XML 65 R54.htm IDEA: XBRL DOCUMENT v3.25.1
BUSINESS SEGMENTS (Tables)
 3 Months Ended
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
BankingWealth
Management		TreasuryTotal Major
Segments		EliminationsConsolidated
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 income120,497 5 28,569 149,071 — 149,071 
(Provision for) recapture of credit losses(25,690)— 2 (25,688)— (25,688)
Non-interest income, net20,700 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 expenses830 (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
BankingWealth
Management		TreasuryTotal Major
Segments		EliminationsConsolidated
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 income115,146 9 28,947 144,102 — 144,102 
(Provision for) recapture of credit losses, net(15,225)— 104 (15,121)— (15,121)
Non-interest income, net23,065 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 expenses424 (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.