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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING The Company’s reportable segment is determined by the Chief Executive Officer, who is designated as the chief operating decision maker (“CODM”), based upon information provided about the Company’s products and services offered, primarily banking operations. The segment is also distinguished by the level of information provided to the CODM, who uses such information to review performance of various line of businesses, which are then aggregated if operating performance, product/services, and customers are similar. The CODM evaluates the financial performance of the Company’s businesses using revenue streams, comparative product pricing, and significant expenses to assess performance and return on assets. The CODM uses consolidated net income and profitability metrics to benchmark the Company against its competitors. Benchmarking analysis and monitoring of budget to actual results are used to assess performance and establish compensation. The CODM when making significant decisions takes into consideration certain financial metrics including loan growth, deposit growth, return on assets, return on average tangible common equity, efficiency ratio, and net interest margin. Interest income from loans and other earning assets, and income from fee-based businesses provide banking operation revenue. Interest expense on deposits and other sources of funding, provisions for credit losses, and operating expenses, primarily salaries and employee benefits, occupancy, furniture and equipment, and data processing and communications, provide the significant expenses of banking operations. The Company currently operates as a single-segment and all operations are domestic.
|  | At or for the Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (Dollars in thousands)
Net interest income |  | $ | 427,851 |  |  | $ | 525,861 |  |  | $ | 578,421 |
Provision for credit losses |  | (17,280) |  |  | (31,592) |  |  | (9,850) |
Noninterest income |  | 47,077 |  |  | 45,577 |  |  | 51,397 |
Noninterest expense |  | (324,684) |  |  | (361,959) |  |  | (323,920) |
Income before income tax expense |  | $ | 132,964 |  |  | $ | 177,887 |  |  | $ | 296,048 |
Total assets |  | $ | 17,054,008 |  |  | $ | 19,131,522 |  |  | $ | 19,164,491 |
Investment securities AFS and HTM |  | 2,075,628 |  |  | 2,408,971 |  |  | 2,243,195 |
Total loans receivable |  | 13,618,272 |  |  | 13,853,619 |  |  | 15,403,540 |
Total deposits |  | 14,327,489 |  |  | 14,753,753 |  |  | 15,738,801 |
Significant segment expenses |  |  |  |  |  |
Salaries and employee benefits |  | $ | 177,860 |  |  | $ | 207,871 |  |  | $ | 204,719 |
Occupancy |  | 27,469 |  |  | 28,868 |  |  | 28,267 |
Furniture and equipment |  | 21,592 |  |  | 21,378 |  |  | 19,434 |
Data processing and communications |  | 12,060 |  |  | 11,606 |  |  | 10,683 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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