v3.25.3

Segments (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information by Reportable Segment | The following schedules reported internally for performance assessment by the chief operating decision maker presents financial information for each reportable segment at and for the three months ended September 30, 2025 and 2024.
For the Three Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  | Windsor Advantage™ |  | CBHL |  |  |  |  |  | Consolidated
Interest income |  | $ | 49,035 |  |  | $ | 15,628 |  |  | $ | — |  |  | $ | 228 |  |  |  |  |  |  | $ | 64,891 |
Interest expense |  | 12,768 |  |  | — |  |  | — |  |  | 103 |  |  |  |  |  |  | 12,871 |
Net interest income |  | 36,267 |  |  | 15,628 |  |  | — |  |  | 125 |  |  |  |  |  |  | 52,020 |
Provision for credit losses |  | 1,852 |  |  | 2,798 |  |  | — |  |  | — |  |  |  |  |  |  | 4,650 |
Provision for credit losses on unfunded commitments |  | 217 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 217 |
Net interest income after provision |  | 34,198 |  |  | 12,830 |  |  | — |  |  | 125 |  |  |  |  |  |  | 47,153 |
Noninterest income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposits |  | 425 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 425 |
Credit card fees |  | — |  |  | 4,509 |  |  | — |  |  | — |  |  |  |  |  |  | 4,509 |
Mortgage banking revenue |  | 315 |  |  | — |  |  | — |  |  | 1,612 |  |  |  |  |  |  | 1,927 |
Government lending revenue |  | 14 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 14 |
Government loan servicing revenue(1) |  | (1,074) |  |  | — |  |  | 5,339 |  |  | — |  |  |  |  |  |  | 4,265 |
Loan servicing rights (government guaranteed)(2) |  | 368 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 368 |
Other (loss) income |  | (557) |  |  | (33) |  |  | — |  |  | 150 |  |  |  |  |  |  | (440) |
Total noninterest income |  | (509) |  |  | 4,476 |  |  | 5,339 |  |  | 1,762 |  |  |  |  |  |  | 11,068 |
Noninterest expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 10,559 |  |  | 3,271 |  |  | 2,455 |  |  | 1,443 |  |  |  |  |  |  | 17,728 |
Occupancy and equipment |  | 1,635 |  |  | 632 |  |  | 416 |  |  | 166 |  |  |  |  |  |  | 2,849 |
Professional fees |  | 1,079 |  |  | 571 |  |  | 198 |  |  | 283 |  |  |  |  |  |  | 2,131 |
Data processing |  | 350 |  |  | 7,154 |  |  | 97 |  |  | 53 |  |  |  |  |  |  | 7,654 |
Advertising |  | 694 |  |  | 833 |  |  | 76 |  |  | 111 |  |  |  |  |  |  | 1,714 |
Loan processing |  | 740 |  |  | 15 |  |  | 67 |  |  | 292 |  |  |  |  |  |  | 1,114 |
Merger-related expenses |  | 697 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 697 |
Operational losses |  | — |  |  | 923 |  |  | — |  |  | — |  |  |  |  |  |  | 923 |
Regulatory assessment expenses |  | 788 |  |  | (30) |  |  | (11) |  |  | (7) |  |  |  |  |  |  | 740 |
Other operating |  | 1,493 |  |  | 587 |  |  | 614 |  |  | 110 |  |  |  |  |  |  | 2,804 |
Total noninterest expenses |  | 18,035 |  |  | 13,956 |  |  | 3,912 |  |  | 2,451 |  |  |  |  |  |  | 38,354 |
Net income (loss) before taxes |  | $ | 15,654 |  |  | $ | 3,350 |  |  | $ | 1,427 |  |  | $ | (564) |  |  |  |  |  |  | $ | 19,867 |
Total assets |  | $ | 3,213,222 |  |  | $ | 134,422 |  |  | $ | 21,743 |  |  | $ | 20,055 |  |  |  |  |  |  | $ | 3,389,442 |
(1) Gross government loan servicing revenue totaled $5.3 million, including $1.1 million of servicing fees earned from the Commercial Bank by Windsor Advantage™, for the three months ended September 30, 2025. (2) Interest income of $49.0 million for the Commercial Bank includes a $1.3 million one-time impact associated with the reversal of income related to previously recognized interest income in the first and second quarter that was also correctly recognized as Fee Revenue in those periods.
For the Three Months Ended September 30, 2024 |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  |  |  | CBHL |  |  |  |  |  | Consolidated
Interest income |  | $ | 36,824 |  |  | $ | 15,625 |  |  |  |  | $ | 161 |  |  |  |  |  |  | $ | 52,610 |
Interest expense |  | 14,148 |  |  | — |  |  |  |  | 108 |  |  |  |  |  |  | 14,256 |
Net interest income |  | 22,676 |  |  | 15,625 |  |  |  |  | 53 |  |  |  |  |  |  | 38,354 |
Provision for credit losses |  | 1,454 |  |  | 2,294 |  |  |  |  | — |  |  |  |  |  |  | 3,748 |
Provision for credit losses on unfunded commitments |  | 17 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 17 |
Net interest income after provision |  | 21,205 |  |  | 13,331 |  |  |  |  | 53 |  |  |  |  |  |  | 34,589 |
Noninterest income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposits |  | 235 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 235 |
Credit card fees |  | — |  |  | 4,055 |  |  |  |  | — |  |  |  |  |  |  | 4,055 |
Mortgage banking revenue |  | 166 |  |  | — |  |  |  |  | 1,716 |  |  |  |  |  |  | 1,882 |
Other income |  | 327 |  |  | 41 |  |  |  |  | 95 |  |  |  |  |  |  | 463 |
Total noninterest income |  | 728 |  |  | 4,096 |  |  |  |  | 1,811 |  |  |  |  |  |  | 6,635 |
Noninterest expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 8,542 |  |  | 3,273 |  |  |  |  | 1,530 |  |  |  |  |  |  | 13,345 |
Occupancy and equipment |  | 1,165 |  |  | 485 |  |  |  |  | 141 |  |  |  |  |  |  | 1,791 |
Professional fees |  | 1,005 |  |  | 722 |  |  |  |  | 253 |  |  |  |  |  |  | 1,980 |
Data processing |  | 396 |  |  | 6,492 |  |  |  |  | 42 |  |  |  |  |  |  | 6,930 |
Advertising |  | 429 |  |  | 697 |  |  |  |  | 97 |  |  |  |  |  |  | 1,223 |
Loan processing |  | 371 |  |  | 16 |  |  |  |  | 228 |  |  |  |  |  |  | 615 |
Foreclosed real estate expenses, net |  | 1 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 1 |
Merger-related expenses |  | 520 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 520 |
Operational losses |  | 8 |  |  | 1,000 |  |  |  |  | — |  |  |  |  |  |  | 1,008 |
Regulatory assessment expenses |  | 483 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 483 |
Other operating |  | 1,134 |  |  | 591 |  |  |  |  | 104 |  |  |  |  |  |  | 1,829 |
Total noninterest expenses |  | 14,054 |  |  | 13,276 |  |  |  |  | 2,395 |  |  |  |  |  |  | 29,725 |
Net income (loss) before taxes |  | $ | 7,879 |  |  | $ | 4,151 |  |  |  |  | $ | (531) |  |  |  |  |  |  | $ | 11,499 |
Total assets |  | $ | 2,419,370 |  |  | $ | 121,587 |  |  |  |  | $ | 19,831 |  |  |  |  |  |  | $ | 2,560,788 |
For the Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  | Windsor Advantage™ |  | CBHL |  |  |  |  |  | Consolidated
Interest income |  | $ | 147,128 |  |  | $ | 44,566 |  |  | $ | — |  |  | $ | 543 |  |  |  |  |  |  | $ | 192,237 |
Interest expense |  | 46,273 |  |  | — |  |  | — |  |  | 251 |  |  |  |  |  |  | 46,524 |
Net interest income |  | 100,855 |  |  | 44,566 |  |  | — |  |  | 292 |  |  |  |  |  |  | 145,713 |
Provision for credit losses |  | 3,457 |  |  | 7,520 |  |  | — |  |  | — |  |  |  |  |  |  | 10,977 |
Provision for credit losses on unfunded commitments |  | 217 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 217 |
Net interest income after provision |  | 97,181 |  |  | 37,046 |  |  | — |  |  | 292 |  |  |  |  |  |  | 134,519 |
Noninterest income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposits |  | 945 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 945 |
Credit card fees |  | — |  |  | 12,529 |  |  | — |  |  | — |  |  |  |  |  |  | 12,529 |
Mortgage banking revenue |  | 1,043 |  |  | — |  |  | — |  |  | 4,469 |  |  |  |  |  |  | 5,512 |
Government lending revenue |  | 4,222 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 4,222 |
Government loan servicing revenue(1) |  | (3,164) |  |  | — |  |  | 14,641 |  |  | — |  |  |  |  |  |  | 11,477 |
Loan servicing rights (government guaranteed) |  | 250 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 250 |
Other income |  | 1,215 |  |  | 3 |  |  | — |  |  | 570 |  |  |  |  |  |  | 1,788 |
Total noninterest income |  | 4,511 |  |  | 12,532 |  |  | 14,641 |  |  | 5,039 |  |  |  |  |  |  | 36,723 |
Noninterest expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 32,275 |  |  | 10,019 |  |  | 7,370 |  |  | 4,591 |  |  |  |  |  |  | 54,255 |
Occupancy and equipment |  | 5,115 |  |  | 1,693 |  |  | 1,495 |  |  | 451 |  |  |  |  |  |  | 8,754 |
Professional fees |  | 3,802 |  |  | 1,714 |  |  | 389 |  |  | 760 |  |  |  |  |  |  | 6,665 |
Data processing |  | 1,244 |  |  | 20,633 |  |  | 283 |  |  | 126 |  |  |  |  |  |  | 22,286 |
Advertising |  | 2,207 |  |  | 2,177 |  |  | 215 |  |  | 265 |  |  |  |  |  |  | 4,864 |
Loan processing |  | 1,867 |  |  | 58 |  |  | 128 |  |  | 783 |  |  |  |  |  |  | 2,836 |
Foreclosed real estate expenses, net |  | 1 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 1 |
Merger-related expenses |  | 3,361 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 3,361 |
Operational losses |  | 131 |  |  | 2,628 |  |  | — |  |  | — |  |  |  |  |  |  | 2,759 |
Regulatory assessment expenses |  | 2,513 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 2,513 |
Other operating |  | 4,718 |  |  | 1,441 |  |  | 1,222 |  |  | 304 |  |  |  |  |  |  | 7,685 |
Total noninterest expenses |  | 57,234 |  |  | 40,363 |  |  | 11,102 |  |  | 7,280 |  |  |  |  |  |  | 115,979 |
Net income (loss) before taxes |  | $ | 44,458 |  |  | $ | 9,215 |  |  | $ | 3,539 |  |  | $ | (1,949) |  |  |  |  |  |  | $ | 55,263 |
Total assets |  | $ | 3,213,222 |  |  | $ | 134,422 |  |  | $ | 21,743 |  |  | $ | 20,055 |  |  |  |  |  |  | $ | 3,389,442 |
(1) Gross government loan servicing revenue totaled $14.6 million, including $3.2 million of servicing fees earned from the Commercial Bank by Windsor Advantage™, for the nine months ended September 30, 2025. (2) Interest income of $147.1 million for the Commercial Bank includes a $1.3 million one-time impact associated with the reversal of income related to previously recognized interest income in the first and second quarter that was also correctly recognized as Fee Revenue in those periods.
For the Nine Months Ended September 30, 2024 |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  |  |  | CBHL |  |  |  |  |  | Consolidated
Interest income |  | $ | 104,887 |  |  | $ | 46,331 |  |  |  |  | $ | 376 |  |  |  |  |  |  | $ | 151,594 |
Interest expense |  | 40,943 |  |  | — |  |  |  |  | 232 |  |  |  |  |  |  | 41,175 |
Net interest income |  | 63,944 |  |  | 46,331 |  |  |  |  | 144 |  |  |  |  |  |  | 110,419 |
Provision for credit losses |  | 3,740 |  |  | 6,152 |  |  |  |  | — |  |  |  |  |  |  | 9,892 |
Provision for credit losses on unfunded commitments |  | 263 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 263 |
Net interest income after provision |  | 59,941 |  |  | 40,179 |  |  |  |  | 144 |  |  |  |  |  |  | 100,264 |
Noninterest income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service charges on deposits |  | 642 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 642 |
Credit card fees |  | — |  |  | 12,266 |  |  |  |  | — |  |  |  |  |  |  | 12,266 |
Mortgage banking revenue |  | 788 |  |  | — |  |  |  |  | 4,537 |  |  |  |  |  |  | 5,325 |
Other income |  | 680 |  |  | 113 |  |  |  |  | 471 |  |  |  |  |  |  | 1,264 |
Total noninterest income |  | 2,110 |  |  | 12,379 |  |  |  |  | 5,008 |  |  |  |  |  |  | 19,497 |
Noninterest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 25,846 |  |  | 9,171 |  |  |  |  | 4,507 |  |  |  |  |  |  | 39,524 |
Occupancy and equipment |  | 3,430 |  |  | 1,418 |  |  |  |  | 420 |  |  |  |  |  |  | 5,268 |
Professional fees |  | 2,661 |  |  | 2,338 |  |  |  |  | 697 |  |  |  |  |  |  | 5,696 |
Data processing |  | 857 |  |  | 19,496 |  |  |  |  | 126 |  |  |  |  |  |  | 20,479 |
Advertising |  | 1,215 |  |  | 3,865 |  |  |  |  | 247 |  |  |  |  |  |  | 5,327 |
Loan processing |  | 763 |  |  | 45 |  |  |  |  | 654 |  |  |  |  |  |  | 1,462 |
Foreclosed real estate expenses, net |  | 2 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 2 |
Merger-related expenses |  | 1,315 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 1,315 |
Operational losses |  | 13 |  |  | 2,708 |  |  |  |  | — |  |  |  |  |  |  | 2,721 |
Regulatory assessment expenses |  | 1,384 |  |  | — |  |  |  |  | — |  |  |  |  |  |  | 1,384 |
Other operating |  | 3,569 |  |  | 1,609 |  |  |  |  | 349 |  |  |  |  |  |  | 5,527 |
Total noninterest expenses |  | 41,055 |  |  | 40,650 |  |  |  |  | 7,000 |  |  |  |  |  |  | 88,705 |
Net income (loss) before taxes |  | $ | 20,996 |  |  | $ | 11,908 |  |  |  |  | $ | (1,848) |  |  |  |  |  |  | $ | 31,056 |
Total assets |  | $ | 2,419,370 |  |  | $ | 121,587 |  |  |  |  | $ | 19,831 |  |  |  |  |  |  | $ | 2,560,788 |
Schedule of Financial Information | The following table presents financial information as of September 30, 2025, December 31, 2024 and September 30, 2024.
September 30, 2025 |  |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  | Windsor Advantage™ |  | CBHL |  |  |  |  |  | Consolidated
Cash and cash equivalents |  | $ | 176,685 |  |  | $ | 7,701 |  |  | $ | 4,475 |  |  | $ | — |  |  |  |  |  |  | $ | 188,861 |
Goodwill |  | 25,969 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 25,969 |
Intangible assets |  | 3 |  |  | — |  |  | 13,454 |  |  | — |  |  |  |  |  |  | 13,457 |
Core deposit intangibles |  | 1,576 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 1,576 |
Other segment assets |  | 3,008,989 |  |  | 126,721 |  |  | 3,814 |  |  | 20,055 |  |  |  |  |  |  | 3,159,579 |
Total assets |  | $ | 3,213,222 |  |  | $ | 134,422 |  |  | $ | 21,743 |  |  | $ | 20,055 |  |  |  |  |  |  | $ | 3,389,442 |
December 31, 2024 |  |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  | Windsor Advantage™ |  | CBHL |  |  |  |  |  | Consolidated
Cash and cash equivalents |  | $ | 193,860 |  |  | $ | 7,890 |  |  | $ | 3,582 |  |  | $ | — |  |  |  |  |  |  | $ | 205,332 |
Goodwill |  | 21,126 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 21,126 |
Intangible assets |  | 3 |  |  | — |  |  | 14,069 |  |  | — |  |  |  |  |  |  | 14,072 |
Core deposit intangibles |  | 1,745 |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | 1,745 |
Other segment assets |  | 2,820,581 |  |  | 118,023 |  |  | 4,341 |  |  | 21,691 |  |  |  |  |  |  | 2,964,636 |
Total assets |  | $ | 3,037,315 |  |  | $ | 125,913 |  |  | $ | 21,992 |  |  | $ | 21,691 |  |  |  |  |  |  | $ | 3,206,911 |
September 30, 2024 |  |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | OpenSky™ |  | Windsor Advantage™ |  | CBHL |  |  |  |  |  | Consolidated
Cash and cash equivalents |  | $ | 150,171 |  |  | $ | 6,529 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 156,700 |
Goodwill |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Intangible assets |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Core deposit intangibles |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  | — |
Other segment assets |  | 2,269,199 |  |  | 115,058 |  |  | — |  |  | 19,831 |  |  |  |  |  |  | 2,404,088 |
Total assets |  | $ | 2,419,370 |  |  | $ | 121,587 |  |  | $ | — |  |  | $ | 19,831 |  |  |  |  |  |  | $ | 2,560,788 |

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