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SEGMENT INFORMATION
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company's reportable segments are determined by the Chief Executive Officer, who is the designated chief operating decision maker, based upon information provided about the Company's products and services offered, primarily distinguished between Banking, Wealth Management and Corporate. They are also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products and services, and customers are similar. The chief operating decision maker analyzes the financial performance of the Company's segments, allocates resources and assesses compensation of certain employees by evaluating revenue streams, significant expenses and budget to actual results. The performance of the Banking segment is assessed by monitoring the margin between interest income and interest expense related to loans, investments, deposits and other borrowings. Pretax profit and loss is used to assess the performance of the Wealth Management segment. Interest expense, provisions for credit losses and payroll provide the significant expenses in the Banking segment, while payroll provides the significant expenses in the Wealth Management segment.
The Banking segment provides a wide range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment financing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services; and corporate treasury management services.
The Wealth Management segment consists of trust and fiduciary services, brokerage and retirement planning services.
The Corporate segment includes the holding company financing and investment activities, administrative expenses, as well as the elimination of intercompany transactions.
Reported segments and the financial information of the reported segments are not necessarily comparable with similar information reported by other financial institutions. Additionally, because of the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities. Changes in management structure or allocation methodologies and procedures may result in future changes to previously reported segment financial data. The accounting policies of the segments are substantially the same as those described in the “Summary of Significant Accounting Policies” in Note 1 of the Company’s 2024 Annual Report on Form 10-K.
Transactions between segments consist primarily of borrowed funds and servicing fees. Noninterest income and expense directly attributable to a segment are assigned to it with various shared service costs such as human resources, accounting, finance, risk management and information technology expense assigned to the Banking segment.
Selected business segment financial information for the three and nine months ended September 30, 2025 and 2024 were as follows:
(dollars in thousands)BankingWealth
Management
CorporateTotal
Three Months Ended September 30, 2025
Interest income$98,493 $— $— $98,493 
Interest expense35,011 20 2,345 37,376 
Net interest income (expense)63,482 (20)(2,345)61,117 
Provision for credit losses20,005 — — 20,005 
Wealth management revenue— 8,018 — 8,018 
Other noninterest income13,861 — (1,863)11,998 
Total noninterest income13,861 8,018 (1,863)20,016 
Salaries and employee benefits22,206 4,187 — 26,393 
Depreciation expense1,204 12 — 1,216 
Amortization of intangible assets492 251 — 743 
Other noninterest expense20,727 1,463 (728)21,462 
Total noninterest expense44,629 5,913 (728)49,814 
Income (loss) before income taxes (benefit)12,709 2,085 (3,480)11,314 
Income taxes (benefit)1,614 99 2,044 3,757 
Net income (loss)$11,095 $1,986 $(5,524)$7,557 
Total assets$6,922,828 $35,589 $(46,901)$6,911,515 
Nine Months Ended September 30, 2025
Interest income$295,772 $— $— $295,772 
Interest expense110,620 55 6,995 117,670 
Net interest income (expense)185,152 (55)(6,995)178,102 
Provision for credit losses48,224 — — 48,224 
Wealth management revenue— 22,747 — 22,747 
Other noninterest income42,183 — (3,617)38,566 
Total noninterest income42,183 22,747 (3,617)61,313 
Salaries and employee benefits66,450 12,044 — 78,494 
Depreciation expense3,639 33 — 3,672 
Amortization of intangible assets1,708 773 — 2,481 
Impairment on goodwill153,977 — — 153,977 
Other noninterest expense(1)
61,560 4,894 (2,267)64,187 
Total noninterest expense287,334 17,744 (2,267)302,811 
(Loss) income before income (benefit) taxes(108,223)4,948 (8,345)(111,620)
Income (benefit) taxes 7,758 1,387 628 9,773 
Net (loss) income$(115,981)$3,561 $(8,973)$(121,393)
Total assets$6,922,828 $35,589 $(46,901)$6,911,515 
(dollars in thousands)BankingWealth
Management
CorporateTotal
Three Months Ended September 30, 2024
Interest income$108,994 $— $— $108,994 
Interest expense47,743 16 2,125 49,884 
Net interest income (expense)61,251 (16)(2,125)59,110 
Provision for credit losses17,925 — — 17,925 
Wealth management revenue— 7,104 — 7,104 
Other noninterest income26,343 — 98 26,441 
Total noninterest income26,343 7,104 98 33,545 
Salaries and employee benefits21,817 2,565 — 24,382 
Depreciation expense1,235 — 1,243 
Amortization of intangible assets678 273 — 951 
Other noninterest expense21,297 2,669 (778)23,188 
Total noninterest expense45,027 5,515 (778)49,764 
Income (loss) before income taxes (benefit)24,642 1,573 (1,249)24,966 
Income taxes (benefit)5,614 1,136 (2,215)4,535 
Net income (loss)$19,028 $437 $966 $20,431 
Total assets$7,680,957 $33,763 $(10,531)$7,704,189 
Nine Months Ended September 30, 2024
Interest income$321,643 $— $15 $321,658 
Interest expense137,259 36 6,587 143,882 
Net interest income (expense)184,384 (36)(6,572)177,776 
Provision for credit losses46,149 — — 46,149 
Wealth management revenue— 21,037 — 21,037 
Other noninterest income82,691 — (358)82,333 
Total noninterest income82,691 21,037 (358)103,370 
Salaries and employee benefits62,022 9,334 — 71,356 
Depreciation expense3,687 34 — 3,721 
Amortization of intangible assets2,220 836 — 3,056 
Other noninterest expense(1)
67,034 6,065 (2,076)71,023 
Total noninterest expense134,963 16,269 (2,076)149,156 
Income (loss) before income taxes (benefit)85,963 4,732 (4,854)85,841 
Income taxes (benefit)18,238 2,444 (3,654)17,028 
Net income (loss)$67,725 $2,288 $(1,200)$68,813 
Total assets$7,680,957 $33,763 $(10,531)$7,704,189 
(1)    Other noninterest expense for Banking includes occupancy and equipment, data processing, FDIC insurance, professional services, marketing, communications, loan expense and other miscellaneous expenses. Other noninterest expense for Wealth Management includes occupancy and equipment, data processing, professional services, marketing, communications and other miscellaneous expenses. Other noninterest expense for Corporate includes data processing, professional services, marketing and other miscellaneous expenses.