XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting At September 30, 2025, the Corporation had three reportable business segments, Banking, Wealth Management and Insurance. The parent holding company and intercompany eliminations are included in the "Other" segment. Each segment generates revenue from a variety of products and services it provides. Examples of products and services provided for each reportable segment are indicated as follows:
● | The Banking segment provides financial services to individuals, businesses, municipalities and non-profit organizations. These services include a full range of banking services such as deposit taking, loan origination and servicing, mortgage banking, other general banking services and equipment lease financing.
● | The Wealth Management segment offers investment advisory, financial planning and trust and brokerage services. The Wealth Management segment serves a diverse client base of private families and individuals, municipal pension plans, retirement plans, trusts and guardianships.
● | The Insurance segment includes a full-service insurance brokerage agency offering commercial property and casualty insurance, employee benefit solutions, personal insurance lines and human resources consulting.
The following tables provide reportable segment-specific information, as well as the Other Segment, and reconciliations to the condensed consolidated financial information for the three and nine months ended September 30, 2025 and 2024.
| Three Months Ended
| September 30, 2025
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Interest income | $ | 109,632 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 109,648 |
Interest expense | 45,765 |  |  | — |  |  | — |  |  | 2,559 |  |  | 48,324 |
Net interest income (expense) | 63,867 |  |  | 16 |  |  | — |  |  | (2,559) |  |  | 61,324 |
Noninterest income | 8,455 |  |  | 7,960 |  |  | 5,476 |  |  | 32 |  |  | 21,923 |
Total revenue | 72,322 |  |  | 7,976 |  |  | 5,476 |  |  | (2,527) |  |  | 83,247 |
Provision for credit losses | 517 |  |  | — |  |  | — |  |  | — |  |  | 517 |
Less: (1) |  |  |  |  |  |  |  |  |
Salaries, benefits and commissions | 18,829 |  |  | 4,435 |  |  | 3,703 |  |  | 4,685 |  |  | 31,652 |
Net occupancy | 2,121 |  |  | 123 |  |  | 163 |  |  | 268 |  |  | 2,675 |
Equipment | 924 |  |  | 9 |  |  | 21 |  |  | 122 |  |  | 1,076 |
Data processing | 2,494 |  |  | 376 |  |  | 144 |  |  | 1,249 |  |  | 4,263 |
Professional fees | 633 |  |  | 245 |  |  | 10 |  |  | 988 |  |  | 1,876 |
Marketing and advertising | 173 |  |  | 28 |  |  | — |  |  | 122 |  |  | 323 |
Deposit insurance premiums | 1,195 |  |  | — |  |  | — |  |  | — |  |  | 1,195 |
Intangible expense | 23 |  |  | — |  |  | 83 |  |  | — |  |  | 106 |
Other segment items (2) | 5,988 |  |  | 515 |  |  | 150 |  |  | 850 |  |  | 7,503 |
Intersegment expense (revenue) (3) | 6,929 |  |  | 129 |  |  | 124 |  |  | (7,182) |  |  | — |
Income (loss) before income taxes | $ | 32,496 |  |  | $ | 2,116 |  |  | $ | 1,078 |  |  | $ | (3,629) |  |  | $ | 32,061 |
Income tax expense (benefit) | 6,488 |  |  | 428 |  |  | 236 |  |  | (730) |  |  | 6,422 |
Net income (loss) | $ | 26,008 |  |  | $ | 1,688 |  |  | $ | 842 |  |  | $ | (2,899) |  |  | $ | 25,639 |
Net capital expenditures | $ | 395 |  |  | $ | 4 |  |  | $ | 13 |  |  | $ | 89 |  |  | $ | 501 |
| Three Months Ended
| September 30, 2024
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Interest income | $ | 106,419 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | 106,438 |
Interest expense | 50,953 |  |  | — |  |  | — |  |  | 2,281 |  |  | 53,234 |
Net interest income (expense) | 55,466 |  |  | 19 |  |  | — |  |  | (2,281) |  |  | 53,204 |
Noninterest income | 6,733 |  |  | 8,029 |  |  | 5,247 |  |  | 141 |  |  | 20,150 |
Total revenue | 62,199 |  |  | 8,048 |  |  | 5,247 |  |  | (2,140) |  |  | 73,354 |
Provision for credit losses | 1,414 |  |  | — |  |  | — |  |  | — |  |  | 1,414 |
Less: (1) |  |  |  |  |  |  |  |  |
Salaries, benefits and commissions | 18,329 |  |  | 4,456 |  |  | 3,431 |  |  | 4,486 |  |  | 30,702 |
Net occupancy | 2,332 |  |  | 77 |  |  | 149 |  |  | 165 |  |  | 2,723 |
Equipment | 1,007 |  |  | 11 |  |  | 24 |  |  | 65 |  |  | 1,107 |
Data processing | 3,126 |  |  | 362 |  |  | 141 |  |  | 525 |  |  | 4,154 |
Professional fees | 841 |  |  | 118 |  |  | 8 |  |  | 612 |  |  | 1,579 |
Marketing and advertising | 187 |  |  | 27 |  |  | 12 |  |  | 264 |  |  | 490 |
Deposit insurance premiums | 1,097 |  |  | — |  |  | — |  |  | — |  |  | 1,097 |
Intangible expense | 55 |  |  | — |  |  | 109 |  |  | — |  |  | 164 |
Other segment items (2) | 4,940 |  |  | 612 |  |  | 144 |  |  | 840 |  |  | 6,536 |
Intersegment expense (revenue) (3) | 7,226 |  |  | 52 |  |  | 123 |  |  | (7,401) |  |  | — |
Income (loss) before income taxes | $ | 21,645 |  |  | $ | 2,333 |  |  | $ | 1,106 |  |  | $ | (1,696) |  |  | $ | 23,388 |
Income tax expense (benefit) | 4,591 |  |  | 398 |  |  | 259 |  |  | (438) |  |  | 4,810 |
Net income (loss) | $ | 17,054 |  |  | $ | 1,935 |  |  | $ | 847 |  |  | $ | (1,258) |  |  | $ | 18,578 |
Net capital expenditures | $ | 544 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 60 |  |  | $ | 610 |
| Nine Months Ended
| September 30, 2025
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Interest income | $ | 318,723 |  |  | $ | 47 |  |  | $ | — |  |  | $ | — |  |  | $ | 318,770 |
Interest expense | 134,002 |  |  | — |  |  | — |  |  | 7,122 |  |  | 141,124 |
Net interest income (expense) | 184,721 |  |  | 47 |  |  | — |  |  | (7,122) |  |  | 177,646 |
Noninterest income | 24,620 |  |  | 23,460 |  |  | 17,652 |  |  | 107 |  |  | 65,839 |
Total revenue | 209,341 |  |  | 23,507 |  |  | 17,652 |  |  | (7,015) |  |  | 243,485 |
Provision for credit losses | 8,522 |  |  | — |  |  | — |  |  | — |  |  | 8,522 |
Less: (1) |  |  |  |  |  |  |  |  |
Salaries, benefits and commissions | 55,657 |  |  | 13,293 |  |  | 10,966 |  |  | 14,098 |  |  | 94,014 |
Net occupancy | 6,591 |  |  | 373 |  |  | 496 |  |  | 807 |  |  | 8,267 |
Equipment | 2,800 |  |  | 29 |  |  | 73 |  |  | 339 |  |  | 3,241 |
Data processing | 7,651 |  |  | 1,103 |  |  | 432 |  |  | 3,849 |  |  | 13,035 |
Professional fees | 1,809 |  |  | 755 |  |  | 39 |  |  | 2,667 |  |  | 5,270 |
Marketing and advertising | 667 |  |  | 86 |  |  | 22 |  |  | 399 |  |  | 1,174 |
Deposit insurance premiums | 3,420 |  |  | — |  |  | — |  |  | — |  |  | 3,420 |
Intangible expense | 119 |  |  | — |  |  | 248 |  |  | — |  |  | 367 |
Other segment items (2) | 16,894 |  |  | 1,589 |  |  | 536 |  |  | 2,522 |  |  | 21,541 |
Intersegment expense (revenue) (3) | 20,014 |  |  | 388 |  |  | 358 |  |  | (20,760) |  |  | — |
Income (loss) before income taxes | $ | 85,197 |  |  | $ | 5,891 |  |  | $ | 4,482 |  |  | $ | (10,936) |  |  | $ | 84,634 |
Income tax expense (benefit) | 16,932 |  |  | 1,192 |  |  | 993 |  |  | (2,495) |  |  | 16,622 |
Net income (loss) | $ | 68,265 |  |  | $ | 4,699 |  |  | $ | 3,489 |  |  | $ | (8,441) |  |  | $ | 68,012 |
Net capital expenditures | $ | 2,745 |  |  | $ | 13 |  |  | $ | 43 |  |  | $ | 687 |  |  | $ | 3,488 |
| Nine Months Ended
| September 30, 2024
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Interest income | $ | 304,805 |  |  | $ | 56 |  |  | $ | — |  |  | $ | 18 |  |  | $ | 304,879 |
Interest expense | 142,337 |  |  | — |  |  | — |  |  | 6,844 |  |  | 149,181 |
Net interest income (expense) | 162,468 |  |  | 56 |  |  | — |  |  | (6,826) |  |  | 155,698 |
Noninterest income | 26,706 |  |  | 22,134 |  |  | 17,721 |  |  | 164 |  |  | 66,725 |
Total revenue | 189,174 |  |  | 22,190 |  |  | 17,721 |  |  | (6,662) |  |  | 222,423 |
Provision for credit losses | 3,553 |  |  | — |  |  | — |  |  | — |  |  | 3,553 |
Less: (1) |  |  |  |  |  |  |  |  |
Salaries, benefits and commissions | 55,461 |  |  | 13,145 |  |  | 10,252 |  |  | 13,369 |  |  | 92,227 |
Net occupancy | 7,074 |  |  | 236 |  |  | 467 |  |  | 497 |  |  | 8,274 |
Equipment | 3,013 |  |  | 31 |  |  | 70 |  |  | 192 |  |  | 3,306 |
Data processing | 9,706 |  |  | 1,091 |  |  | 400 |  |  | 1,613 |  |  | 12,810 |
Professional fees | 2,368 |  |  | 388 |  |  | 40 |  |  | 1,937 |  |  | 4,733 |
Marketing and advertising | 620 |  |  | 133 |  |  | 28 |  |  | 840 |  |  | 1,621 |
Deposit insurance premiums | 3,330 |  |  | — |  |  | — |  |  | — |  |  | 3,330 |
Intangible expense | 212 |  |  | — |  |  | 327 |  |  | — |  |  | 539 |
Other segment items (2) | 15,158 |  |  | 1,921 |  |  | 474 |  |  | 2,941 |  |  | 20,494 |
Intersegment expense (revenue) (3) | 18,390 |  |  | 156 |  |  | 370 |  |  | (18,916) |  |  | — |
Income (loss) before income taxes | $ | 70,289 |  |  | $ | 5,089 |  |  | $ | 5,293 |  |  | $ | (9,135) |  |  | $ | 71,536 |
Income tax expense (benefit) | 14,283 |  |  | 1,109 |  |  | 1,184 |  |  | (2,030) |  |  | 14,546 |
Net income (loss) | $ | 56,006 |  |  | $ | 3,980 |  |  | $ | 4,109 |  |  | $ | (7,105) |  |  | $ | 56,990 |
Net capital expenditures | $ | (234) |  |  | $ | 11 |  |  | $ | 73 |  |  | $ | 167 |  |  | $ | 17 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. (2) Other segment items for each reportable segment includes: Banking - loan and lease financing related fees, deposit and card service fees, and certain overhead expenses. Wealth Management - referral fees, clearing broker fees, and certain overhead expenses. Insurance - certain overhead expenses. Other - Board of Director fees, retirement costs, and certain overhead expenses. (3) Includes an allocation of general and administrative expenses from both the parent holding company and the Bank. The following tables show significant components of segment net assets as of September 30, 2025 and December 31, 2024.
| At September 30, 2025
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Other segment disclosures: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 727,636 |  |  | $ | 53,527 |  |  | $ | 35,576 |  |  | $ | — |  |  | $ | 816,739 |
Loans and leases, including loans held for sale, net of allowance for credit losses | 6,705,285 |  |  | — |  |  | — |  |  | — |  |  | 6,705,285 |
Goodwill | 138,476 |  |  | 15,434 |  |  | 21,600 |  |  | — |  |  | 175,510 |
Other segment assets | 842,215 |  |  | 2,487 |  |  | 2,652 |  |  | 28,728 |  |  | 876,082 |
Total segment assets | $ | 8,413,612 |  |  | $ | 71,448 |  |  | $ | 59,828 |  |  | $ | 28,728 |  |  | $ | 8,573,616 |
| At December 31, 2024
(Dollars in thousands) | Banking |  | Wealth Management |  | Insurance |  | Other |  | Consolidated
Other segment disclosures: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 247,023 |  |  | $ | 50,149 |  |  | $ | 31,672 |  |  | $ | — |  |  | $ | 328,844 |
Loans and leases, including loans held for sale, net of allowance for credit losses | 6,756,145 |  |  | — |  |  | — |  |  | — |  |  | 6,756,145 |
Goodwill | 138,476 |  |  | 15,434 |  |  | 21,600 |  |  | — |  |  | 175,510 |
Other segment assets | 839,359 |  |  | 3,485 |  |  | 2,828 |  |  | 22,246 |  |  | 867,918 |
Total segment assets | $ | 7,981,003 |  |  | $ | 69,068 |  |  | $ | 56,100 |  |  | $ | 22,246 |  |  | $ | 8,128,417 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: 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 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration