v3.25.3

Segments (Tables)

9 Months Ended

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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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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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.

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