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v3.25.1

BUSINESS SEGMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Following are the results of operations and the selected financial information by operating segment for the quarters ended March 31, 2025 and 2024:
| Quarter Ended March 31, 2025
| Banking |  | Wealth Management |  | Treasury |  | Total Major Segments |  | Eliminations |  | Consolidated Total
| (In thousands)
Interest income | $ | 155,027 |  |  | $ | 5 |  |  | $ | 35,433 |  |  | $ | 190,465 |  |  | $ | (1,243) |  |  | $ | 189,222 |
Interest expense | (34,530) |  |  | — |  |  | (6,864) |  |  | (41,394) |  |  | 1,243 |  |  | (40,151) |
Net interest income | 120,497 |  |  | 5 |  |  | 28,569 |  |  | 149,071 |  |  | — |  |  | 149,071 |
(Provision for) recapture of credit losses | (25,690) |  |  | — |  |  | 2 |  |  | (25,688) |  |  | — |  |  | (25,688) |
Non-interest income, net | 20,700 |  |  | 8,817 |  |  | — |  |  | 29,517 |  |  | — |  |  | 29,517 |
Non-interest expenses [1]: |  |  |  |  |  |  |  |  |  |  |
Compensation and employee benefits | (36,786) |  |  | (2,871) |  |  | (275) |  |  | (39,932) |  |  | — |  |  | (39,932) |
Occupancy, equipment and infrastructure costs | (9,540) |  |  | (178) |  |  | (16) |  |  | (9,734) |  |  | — |  |  | (9,734) |
Depreciation and amortization of premises and equipment | (5,068) |  |  | (13) |  |  | (5) |  |  | (5,086) |  |  | — |  |  | (5,086) |
Electronic banking charges | (9,670) |  |  | — |  |  | — |  |  | (9,670) |  |  | — |  |  | (9,670) |
Information technology expenses | (6,238) |  |  | (55) |  |  | 6 |  |  | (6,287) |  |  | — |  |  | (6,287) |
Professional and service fees | (4,423) |  |  | (642) |  |  | (53) |  |  | (5,118) |  |  | — |  |  | (5,118) |
Loan servicing and clearing expenses | (1,576) |  |  | (590) |  |  | (68) |  |  | (2,234) |  |  | — |  |  | (2,234) |
Amortization of other intangible assets | (288) |  |  | — |  |  | — |  |  | (288) |  |  | — |  |  | (288) |
Intersegment expenses | 830 |  |  | (520) |  |  | (310) |  |  | — |  |  | — |  |  | — |
Other [2] | (14,600) |  |  | (373) |  |  | (130) |  |  | (15,103) |  |  | — |  |  | (15,103) |
Total non-interest expense | (87,359) |  |  | (5,242) |  |  | (851) |  |  | (93,452) |  |  | — |  |  | (93,452) |
Income before income taxes | $ | 28,148 |  |  | $ | 3,580 |  |  | $ | 27,720 |  |  | $ | 59,448 |  |  | $ | — |  |  | $ | 59,448 |
Income tax expense | (13,808) |  |  | (17) |  |  | (51) |  |  | (13,876) |  |  | — |  |  | (13,876) |
Net income | $ | 14,340 |  |  | $ | 3,563 |  |  | $ | 27,669 |  |  | $ | 45,572 |  |  | $ | — |  |  | $ | 45,572 |
Total assets | $ | 9,567,669 |  |  | $ | 37,647 |  |  | $ | 3,350,980 |  |  | $ | 12,956,296 |  |  | $ | (1,227,039) |  |  | $ | 11,729,257 |
Expenditures for long-lived assets | $ | 4,349 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 4,350 |  |  | $ | — |  |  | $ | 4,350 |
[1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
[2] Other non-interest expenses include:
Banking: Taxes, other than payroll and income taxes; insurance; advertising; data communication and systems; printing, postage, stationary and supplies; communication; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses.
Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses.
Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses.
Eliminations include interest income and expense for a time deposit opened by the Bank in Oriental Overseas, the IBE unit, which operates within the Bank. The time deposit with a balance of $279.6 million and $301.4 million at March 31, 2025 and 2024, respectively, to fund Oriental Overseas operations is included in the Treasury Segment with its corresponding interest expense, and the related interest income is included in the Banking Segment, and are eliminated in the consolidation. Interest income is accrued on the unpaid principal balance. The increase in interest income and interest expense from the prior year period was mainly as a result of higher interest rate.
| Quarter Ended March 31, 2024
| Banking |  | Wealth Management |  | Treasury |  | Total Major Segments |  | Eliminations |  | Consolidated Total
| (In thousands)
Interest income | $ | 150,995 |  |  | $ | 9 |  |  | $ | 33,497 |  |  | $ | 184,501 |  |  | $ | (1,075) |  |  | $ | 183,426 |
Interest expense | (35,849) |  |  | — |  |  | (4,550) |  |  | (40,399) |  |  | 1,075 |  |  | (39,324) |
Net interest income | 115,146 |  |  | 9 |  |  | 28,947 |  |  | 144,102 |  |  | — |  |  | 144,102 |
(Provision for) recapture of credit losses, net | (15,225) |  |  | — |  |  | 104 |  |  | (15,121) |  |  | — |  |  | (15,121) |
Non-interest income, net | 23,065 |  |  | 7,375 |  |  | (92) |  |  | 30,348 |  |  | — |  |  | 30,348 |
Non-interest expenses [1]: |  |  |  |  |  |  |  |  |  |  |
Compensation and employee benefits | (37,285) |  |  | (2,270) |  |  | (261) |  |  | (39,816) |  |  | — |  |  | (39,816) |
Occupancy, equipment and infrastructure costs | (8,835) |  |  | (168) |  |  | (33) |  |  | (9,036) |  |  | — |  |  | (9,036) |
Depreciation and amortization of premises and equipment | (5,276) |  |  | (5) |  |  | (5) |  |  | (5,286) |  |  | — |  |  | (5,286) |
Electronic banking charges | (10,366) |  |  | — |  |  | — |  |  | (10,366) |  |  | — |  |  | (10,366) |
Information technology expenses | (6,556) |  |  | (47) |  |  | — |  |  | (6,603) |  |  | — |  |  | (6,603) |
Professional and service fees | (3,260) |  |  | (679) |  |  | (65) |  |  | (4,004) |  |  | — |  |  | (4,004) |
Loan servicing and clearing expenses | (1,443) |  |  | (527) |  |  | (140) |  |  | (2,110) |  |  | — |  |  | (2,110) |
Amortization of other intangibles assets | (346) |  |  | — |  |  | — |  |  | (346) |  |  | — |  |  | (346) |
Intersegment expenses | 424 |  |  | (267) |  |  | (157) |  |  | — |  |  | — |  |  | — |
Other [2] | (12,623) |  |  | (826) |  |  | (396) |  |  | (13,845) |  |  | — |  |  | (13,845) |
Total non-interest expense | (85,566) |  |  | (4,789) |  |  | (1,057) |  |  | (91,412) |  |  | — |  |  | (91,412) |
Income before income taxes | $ | 37,420 |  |  | $ | 2,595 |  |  | $ | 27,902 |  |  | $ | 67,917 |  |  | $ | — |  |  | $ | 67,917 |
Income tax expense | (18,166) |  |  | (13) |  |  | (46) |  |  | (18,225) |  |  | — |  |  | (18,225) |
Net income | $ | 19,254 |  |  | $ | 2,582 |  |  | $ | 27,856 |  |  | $ | 49,692 |  |  | $ | — |  |  | $ | 49,692 |
Total assets | $ | 9,132,772 |  |  | $ | 32,597 |  |  | $ | 3,144,241 |  |  | $ | 12,309,610 |  |  | $ | (1,150,375) |  |  | $ | 11,159,235 |
Expenditures for long-lived assets | $ | 6,186 |  | — |  | $ | — |  |  | $ | — |  |  | $ | 6,186 |  |  | $ | — |  |  | $ | 6,186 |
[1] The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
[2] Other non-interest expenses include:
Banking: Taxes, other than payroll and income taxes; insurance; advertising; data communication and systems; printing, postage, stationary and supplies; travels, meals and training; credit related expenses; director and investor relations; loss on sale of foreclosed real estate and other repossessed properties; losses and operational errors, among other business expenses.
Wealth Management: Reinsurance incurred net losses; taxes, other than payroll and income taxes; advertising; insurance; data communication and systems, among other business expenses.
Treasury: Data communication and systems; taxes, other than payroll and income taxes; insurance, among other business expenses.

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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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