First Hawaiian, Inc. Reports Third Quarter 2026 Financial Results and Declares Dividend

Higher net interest income was accompanied by increased credit-loss provisions and expenses, while a tax benefit supported earnings.

Rhea-AI Summary

First Hawaiian (NASDAQ:FHB) reported third-quarter 2026 net income of $63.7 million, down from the prior quarter as credit provisions and expenses rose. Diluted earnings were $0.52 per share, versus $0.60 in the second quarter and $0.59 a year earlier. Net interest income increased to $174.1 million, and net interest margin rose to 3.30% from 3.25% sequentially.

The credit-loss provision increased to $20.3 million, driven by a $12.5 million partial charge-off on one commercial real estate loan and other commercial real estate downgrades. Noninterest expense reached $160.0 million, including $6.7 million in merger costs and $24.3 million related to a tax settlement agreement; that agreement also generated a $31.0 million tax benefit. Loans fell $115.1 million, while deposits rose $50.4 million sequentially. The board declared a $0.26 quarterly dividend, payable November 27 to holders of record November 16, 2026.

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Positive

• Moderate pointNet interest income rose to $174.1 million from $171.0 million sequentially and $169.3 million a year earlier.
• Moderate pointNet interest margin increased to 3.30%, versus 3.25% sequentially and 3.19% a year earlier.
• Moderate point$31.0 million income tax benefit resulted from the agreement to settle liabilities from the 2016 corporate reorganization.
• Moderate pointNine-month net interest income increased to $512.627 million from $493.440 million a year earlier.
• Moderate pointNine-month noninterest income increased to $169.223 million from $161.495 million a year earlier.

5 minor points

• Minor pointDeposits increased $50.4 million sequentially to $20.2 billion at September 30, 2026.
• Minor pointCommon equity tier 1 capital ratio increased to 13.50% from 13.27% at June 30, 2026.
• Minor pointTotal capital ratio increased to 14.74% from 14.52% at June 30, 2026.
• Minor pointTier 1 leverage ratio increased to 9.61% from 9.46% at June 30, 2026.
• Minor pointNine-month diluted earnings increased to $1.67 per share from $1.64 a year earlier.

Negative

• Moderate pointQuarterly net income fell to $63.7 million from $73.4 million sequentially and $73.8 million a year earlier.
• Moderate pointCredit-loss provision increased to $20.3 million from $5.6 million sequentially and $4.5 million a year earlier.
• Moderate pointNoninterest expense rose to $160.0 million from $130.4 million sequentially, including $24.3 million tax-settlement expense and $6.7 million merger costs.
• Moderate pointNoninterest income fell to $56.1 million from $60.3 million sequentially and $57.1 million a year earlier.
• Moderate pointEfficiency ratio worsened to 69.18% from 56.17% sequentially and 55.29% a year earlier.

15 minor points

• Minor pointDiluted earnings fell to $0.52 per share from $0.60 sequentially and $0.59 a year earlier.
• Minor point$12.5 million partial charge-off on one commercial real estate loan, plus other downgrades, drove the provision.
• Minor pointNet charge-offs rose to $21.9 million, or 0.60% annualized, from $4.1 million, or 0.11%, sequentially.
• Minor pointNon-performing assets increased to $46.0 million, or 0.32%, from $39.5 million, or 0.27%, at June 30, 2026.
• Minor pointLoans and leases decreased $115.1 million sequentially to $14.5 billion at September 30, 2026.
• Minor pointAverage deposits declined to $20.409 billion from $20.483 billion in the prior quarter.
• Minor pointCredit-loss allowance declined to $164.4 million, or 1.14% of loans, from $168.1 million, or 1.15%, sequentially.
• Minor pointUnfunded-commitment reserve increased to $39.7 million from $37.7 million at June 30, 2026.
• Minor pointReturn on average assets declined to 1.06% from 1.23% sequentially and 1.22% a year earlier.
• Minor pointReturn on average equity declined to 8.88% from 10.52% sequentially and 10.81% a year earlier.
• Minor pointBook value per share declined to $23.16 from $23.22 at June 30, 2026.
• Minor pointStockholders’ equity declined to $2,817.544 million from $2,826.028 million at June 30, 2026.
• Minor pointNine-month net income declined to $204.889 million from $206.335 million a year earlier.
• Minor pointNine-month credit-loss provision increased to $30.908 million from $19.500 million a year earlier.
• Minor pointNine-month noninterest expense increased to $418.377 million from $374.243 million a year earlier.

Key Figures

Net income: $63.7 million Diluted EPS: $0.52 Net interest margin: 3.30% +5 more

Net income

$63.7 million

Q3 2026; compared with $73.4 million in Q2 2026

Diluted EPS

$0.52

Q3 2026; compared with $0.60 in Q2 2026

Net interest margin

3.30%

Q3 2026; up 5 basis points from Q2 2026

Quarterly dividend

$0.26 per share

Declared October 21, 2026

Provision for credit losses

$20.3 million

Q3 2026; compared with $5.6 million in Q2 2026

Net charge-offs

$21.9 million; 0.60% of average loans and leases

Q3 2026; 0.60% is on an annualized basis

Non-performing assets

$46.0 million; 0.32%

As of September 30, 2026; compared with $39.5 million and 0.27% on June 30, 2026

Common equity tier 1 ratio

13.50%

As of September 30, 2026; compared with 13.27% on June 30, 2026

Previous Dividends,earnings Reports

2 past events · Latest: Jul 24

Same Type 2 events

1. Jul 24

   Quarterly earnings

   24h Move

   -1.9%

   Reported $73.4M net income and 3.25% net interest margin; declared a $0.26 quarterly dividend.

2. Oct 24

   Quarterly earnings

   24h Move

   +4.7%

   Reported $73.8M net income, $0.59 diluted EPS and 3.19% net interest margin; declared a $0.26 dividend.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, provision for credit losses, common equity tier 1, non-gaap

4 terms

net interest margin financial

"The net interest margin was 3.30% in the third quarter of 2026"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

provision for credit losses financial

"we recorded a $20.3 million provision for credit losses"

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

common equity tier 1 financial

"The tier 1 leverage, common equity tier 1 and total capital ratios"

Common Equity Tier 1 is the highest-quality capital a bank holds—mainly common shares and retained profits—that acts as the primary cushion against losses. Investors use the CET1 level and ratio to judge a bank’s financial strength and regulatory standing: a bigger cushion means the bank is better able to absorb shocks, sustain payouts and borrow cheaply, much like an emergency fund for a household.

non-gaap financial

"are non-GAAP financial measures"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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AI-generated analysis. How Rhea-AI works. Not financial advice.

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HONOLULU, Oct. 23, 2026 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended September 30, 2026.

“I’m pleased with the solid earnings we delivered this quarter and the continued trust our customers place in us,” said Bob Harrison, Chairman, President and Chief Executive Officer. “Our deposit growth in a competitive market reflects the strength of those relationships, and our balance sheet is well positioned to benefit from rising interest rates. As we prepare for the Tri Counties Bank acquisition, we’re focused on building on that foundation and the growth opportunities ahead.”

On October 21, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on November 27, 2026, to stockholders of record at the close of business on November 16, 2026.  

Third Quarter 2026 Highlights:

• Net income of $63.7 million, or $0.52 per diluted share
• Total loans and leases decreased $115.1 million to $14.5 billion
• Total deposits increased $50.4 million to $20.2 billion
• Net interest margin increased 5 basis points to 3.30%
• Results include a $24.3 million noninterest expense and a $31.0 million income tax benefit from an agreement to settle tax liabilities resulting from the 2016 corporate reorganization
• Merger-related costs in the quarter were $6.7 million
• Recorded a $20.3 million provision for credit losses, driven by a $12.5 million partial charge-off related to a single CRE loan and other CRE loan downgrades
• Board of Directors declared a quarterly dividend of $0.26 per share
  
  

Balance Sheet

Total assets were $23.8 billion at September 30, 2026 versus $23.6 billion at June 30, 2026.

Gross loans and leases were $14.5 billion as of September 30, 2026, a decrease of $115.1 million from $14.6 billion as of June 30, 2026.

Total deposits were $20.2 billion as of September 30, 2026 and June 30, 2026.

Net Interest Income

Net interest income for the third quarter of 2026 was $174.1 million, an increase of $3.1 million compared to $171.0 million for the prior quarter.  

The net interest margin was 3.30% in the third quarter of 2026, 5 basis points higher than the prior quarter’s margin of 3.25%.

Provision Expense

During the quarter ended September 30, 2026, we recorded a $20.3 million provision for credit losses. In the quarter ended June 30, 2026, we recorded a $5.6 million provision for credit losses.

Noninterest Income

Noninterest income was $56.1 million in the third quarter of 2026, $4.2 million lower than noninterest income of $60.3 million in the prior quarter.  

Noninterest Expense

Noninterest expense was $160.0 million in the third quarter of 2026, $29.6 million higher compared to noninterest expense of $130.4 million in the prior quarter.

Noninterest expense in the third quarter included $6.7 million of merger-related costs and a $24.3 million noninterest expense from an agreement to settle tax liabilities resulting from the 2016 corporate reorganization.

The efficiency ratio was 69.2% and 56.2% for the quarters ended September 30, 2026 and June 30, 2026, respectively.

Taxes

The effective tax rate was -27.8% and 22.9% for the quarters ended September 30, 2026 and June 30, 2026, respectively. The negative effective tax rate in the third quarter was due to a $31.0 million income tax benefit we recorded as a result of the agreement to settle tax liabilities resulting from the 2016 corporate reorganization.

Asset Quality

The allowance for credit losses was $164.4 million, or 1.14% of total loans and leases, as of September 30, 2026, compared to $168.1 million, or 1.15% of total loans and leases, as of June 30, 2026. The reserve for unfunded commitments was $39.7 million as of September 30, 2026 and $37.7 million as of June 30, 2026. Net charge-offs were $21.9 million, or 0.60% of average loans and leases on an annualized basis, for the quarter ended September 30, 2026, compared to net charge-offs of $4.1 million, or 0.11% of average loans and leases on an annualized basis, for the quarter ended June 30, 2026. Total non-performing assets were $46.0 million, or 0.32% of total loans and leases and other real estate owned, on September 30, 2026, compared to total non-performing assets of $39.5 million, or 0.27% of total loans and leases and other real estate owned, on June 30, 2026.

Capital

Total stockholders' equity was $2.8 billion at September 30, 2026 and June 30, 2026.    

The tier 1 leverage, common equity tier 1 and total capital ratios were 9.61%, 13.50% and 14.74%, respectively, on September 30, 2026, compared with 9.46%, 13.27% and 14.52%, respectively, on June 30, 2026.

The Company did not repurchase any shares in the third quarter.

First Hawaiian, Inc.

First Hawaiian, Inc. (NASDAQ:FHB) is a bank holding company headquartered in Honolulu, Hawaii.  Its principal subsidiary, First Hawaiian Bank, founded in 1858 under the name Bishop & Company, is Hawaii’s oldest and largest financial institution with branch locations throughout Hawaii, Guam and Saipan. The company offers a comprehensive suite of banking services to consumer and commercial customers including deposit products, loans, wealth management, insurance, trust, retirement planning, credit card and merchant processing services. Customers may also access their accounts through ATMs, online and mobile banking channels. For more information about First Hawaiian, Inc., visit the Company’s website, www.fhb.com.

Conference Call Information

First Hawaiian will host a conference call to discuss the Company’s results today at 1:00 p.m. Eastern Time, 7:00 a.m. Hawaii Time.

To access the call by phone, please register via the following link:  
https://register-conf.media-server.com/register/BI4e0abe37ecf34f5d8bdacfb166cade22, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

A live webcast of the conference call, including a slide presentation, will be available at the following link: www.fhb.com/earnings.   The archive of the webcast will be available at the same location.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, there can be no assurance that actual results will not prove to be materially different from the results expressed or implied by the forward-looking statements. A number of important factors could cause actual results or performance to differ materially from the forward-looking statements, including (without limitation) the risks and uncertainties associated with the domestic and global economic environment and capital market conditions and other risk factors. For a discussion of some of these risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K for the year ended December 31, 2025 and our Quarterly Report on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026.

Use of Non-GAAP Financial Measures

Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We believe that these measurements are useful for investors, regulators, management and others to evaluate financial performance and capital adequacy relative to other financial institutions. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analysis of our results or financial condition as reported under GAAP. Investors should consider our performance and capital adequacy as reported under GAAP and all other relevant information when assessing our performance and capital adequacy.

Table 14 at the end of this document provides a reconciliation of these non-GAAP financial measures with their most directly comparable GAAP measures.

Investor Relations Contact: Kevin Haseyama, CFA (808) 525-6268 khaseyama@fhb.com

Media Contact: Shari Nishijima (808) 525-6254 snishijima@fhb.com

Financial Highlights		Table 1
		For the Three Months Ended									For the Nine Months Ended
		September 30,			June 30,			September 30,			September 30,
(dollars in thousands, except per share data)		2026			2026			2025			2026			2025
Operating Results:
Net interest income		$	174,104		$	170,993		$	169,331		$	512,627		$	493,440
Provision for credit losses			20,308			5,600			4,500			30,908			19,500
Noninterest income			56,123			60,281			57,060			169,223			161,495
Noninterest expense			160,047			130,445			125,744			418,377			374,243
Net income			63,730			73,375			73,840			204,889			206,335
Basic earnings per share			0.52			0.60			0.59			1.68			1.65
Diluted earnings per share			0.52			0.60			0.59			1.67			1.64
Dividends declared per share			0.26			0.26			0.26			0.78			0.78
Dividend payout ratio			50.00	%		43.33	%		44.07	%		46.71	%		47.56	%
Performance Ratios(1):
Net interest margin			3.30	%		3.25	%		3.19	%		3.25	%		3.13	%
Efficiency ratio			69.18	%		56.17	%		55.29	%		61.08	%		56.88	%
Return on average total assets			1.06	%		1.23	%		1.22	%		1.14	%		1.15	%
Return on average tangible assets (non-GAAP)(2)			1.10	%		1.28	%		1.27	%		1.19	%		1.20	%
Return on average total stockholders' equity			8.88	%		10.52	%		10.81	%		9.75	%		10.32	%
Return on average tangible stockholders' equity (non-GAAP)(2)			13.67	%		16.34	%		17.08	%		15.09	%		16.45	%
Average Balances:
Average loans and leases		$	14,496,740		$	14,488,213		$	14,209,282		$	14,425,550		$	14,269,030
Average earning assets			21,128,236			21,192,973			21,271,827			21,217,201			21,203,245
Average assets			23,955,273			23,954,425			23,993,685			23,997,190			23,914,896
Average deposits			20,408,631			20,483,307			20,411,117			20,504,383			20,348,609
Average stockholders' equity			2,845,750			2,796,857			2,710,273			2,810,686			2,672,284
Market Value Per Share:
Closing			24.62			29.30			24.83			24.62			24.83
High			30.58			29.63			26.72			30.58			28.28
Low			24.48			24.50			23.48			23.26			20.32

		As of			As of			As of			As of
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands, except per share data)		2026			2026			2025			2025
Balance Sheet Data:
Loans and leases		$	14,462,228		$	14,577,299		$	14,312,529		$	14,129,383
Total assets			23,764,015			23,646,049			23,955,252			24,098,728
Total deposits			20,204,570			20,154,181			20,515,668			20,729,557
Total stockholders' equity			2,817,544			2,826,028			2,769,365			2,733,921
Per Share of Common Stock:
Book value		$	23.16		$	23.22		$	22.57		$	22.10
Tangible book value (non-GAAP)(2)			14.97			15.04			14.46			14.05
Asset Quality Ratios:
Non-accrual loans and leases / total loans and leases			0.32	%		0.27	%		0.29	%		0.22	%
Allowance for credit losses for loans and leases / total loans and leases			1.14	%		1.15	%		1.18	%		1.17	%
Capital Ratios:
Common Equity Tier 1 Capital Ratio			13.50	%		13.27	%		13.17	%		13.24	%
Tier 1 Capital Ratio			13.50	%		13.27	%		13.17	%		13.24	%
Total Capital Ratio			14.74	%		14.52	%		14.42	%		14.49	%
Tier 1 Leverage Ratio			9.61	%		9.46	%		9.27	%		9.16	%
Total stockholders' equity to total assets			11.86	%		11.95	%		11.56	%		11.34	%
Tangible stockholders' equity to tangible assets (non-GAAP)(2)			8.00	%		8.08	%		7.73	%		7.52	%
Non-Financial Data:
Number of branches			49			49			49			49
Number of ATMs			272			274			273			275
Number of Full-Time Equivalent Employees			1,974			1,995			1,997			2,001

^{_________________________________________
(1)}  Except for the efficiency ratio, amounts are annualized for the three and nine months ended September 30, 2026 and 2025 and three months ended June 30, 2026.

⁽²⁾  Return on average tangible assets, return on average tangible stockholders’ equity, tangible book value per share and tangible stockholders’ equity to tangible assets are non-GAAP financial measures. We compute our return on average tangible assets as the ratio of net income to average tangible assets, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total assets. We compute our return on average tangible stockholders’ equity as the ratio of net income to average tangible stockholders’ equity, which is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our average total stockholders’ equity. We compute our tangible book value per share as the ratio of tangible stockholders’ equity to outstanding shares. Tangible stockholders’ equity is calculated by subtracting (and thereby effectively excluding) amounts related to the effect of goodwill from our total stockholders’ equity. We compute our tangible stockholders’ equity to tangible assets as the ratio of tangible stockholders’ equity to tangible assets, each of which we calculate by subtracting (and thereby effectively excluding) the value of our goodwill. For a reconciliation to the most directly comparable GAAP financial measure, see Table 14, GAAP to Non-GAAP Reconciliation.

Consolidated Statements of Income		Table 2
		For the Three Months Ended										For the Nine Months Ended
		September 30,				June 30,			September 30,			September 30,
(dollars in thousands, except per share amounts)		2026				2026			2025			2026			2025
Interest income
Loans and lease financing		$	192,373			$	190,727		$	196,441		$	569,489		$	581,936
Available-for-sale investment securities			16,200				15,867			13,470			46,951			39,089
Held-to-maturity investment securities			14,856				15,121			15,920			45,040			48,866
Other			11,114				10,652			16,744			35,128			44,573
Total interest income			234,543				232,367			242,575			696,608			714,464
Interest expense
Deposits			60,211				61,220			70,851			183,495			212,849
Short-term borrowings			1				—			2,195			1			7,421
Other			227				154			198			485			754
Total interest expense			60,439				61,374			73,244			183,981			221,024
Net interest income			174,104				170,993			169,331			512,627			493,440
Provision for credit losses			20,308				5,600			4,500			30,908			19,500
Net interest income after provision for credit losses			153,796				165,393			164,831			481,719			473,940
Noninterest income
Service charges on deposit accounts			8,693				8,316			8,096			25,165			23,461
Credit and debit card fees			15,718				15,402			15,850			46,203			46,237
Other service charges and fees			15,386				14,409			13,807			43,579			39,324
Trust and investment services income			9,146				9,074			9,212			27,366			27,736
Bank-owned life insurance			4,748				7,069			6,314			15,908			15,409
Investment securities gains, net			—				—			—			—			37
Other			2,432				6,011			3,781			11,002			9,291
Total noninterest income			56,123				60,281			57,060			169,223			161,495
Noninterest expense
Salaries and employee benefits			63,159				62,376			61,533			189,625			181,138
Contracted services and professional fees			13,803				14,220			15,785			41,987			46,621
Occupancy			7,333				7,902			7,098			23,051			23,132
Equipment			15,308				14,563			13,834			44,652			41,742
Regulatory assessment and fees			3,112				3,417			3,294			9,777			10,876
Advertising and marketing			2,157				2,178			2,033			6,587			6,247
Card rewards program			9,125				8,403			8,694			25,932			25,019
Merger-related costs			6,672				4,182			—			10,854			—
Other			39,378				13,204			13,473			65,912			39,468
Total noninterest expense			160,047				130,445			125,744			418,377			374,243
Income before provision for income taxes			49,872				95,229			96,147			232,565			261,192
(Benefit) provision for income taxes			(13,858	)			21,854			22,307			27,676			54,857
Net income		$	63,730			$	73,375		$	73,840		$	204,889		$	206,335
Basic earnings per share		$	0.52			$	0.60		$	0.59		$	1.68		$	1.65
Diluted earnings per share		$	0.52			$	0.60		$	0.59		$	1.67		$	1.64
Basic weighted-average outstanding shares			121,681,309				121,669,238			124,267,090			121,933,207			125,282,792
Diluted weighted-average outstanding shares			122,478,489				122,339,836			124,970,898			122,716,742			125,977,271

Consolidated Balance Sheets		Table 3
		September 30,				June 30,				December 31,				September 30,
(dollars in thousands, except share amount)		2026				2026				2025				2025
Assets
Cash and due from banks		$	258,228			$	263,762			$	228,734			$	249,563
Interest-bearing deposits in other banks			1,071,703				748,734				1,249,018				1,606,080
Investment securities:
Available-for-sale, at fair value (amortized cost: $2,259,070 as of September 30, 2026, $2,275,837 as of June 30, 2026, $2,246,716 as of December 31, 2025 and $2,178,092 as of September 30, 2025)			2,016,945				2,094,699				2,076,233				1,986,717
Held-to-maturity, at amortized cost (fair value: $2,819,282 as of September 30, 2026, $3,035,475 as of June 30, 2026, $3,188,775 as of December 31, 2025 and $3,209,883 as of September 30, 2025)			3,346,994				3,411,684				3,533,082				3,594,188
Loans held for sale			—				—				1,370				468
Loans and leases			14,462,228				14,577,299				14,312,529				14,129,383
Less: allowance for credit losses			164,437				168,056				168,468				165,269
Net loans and leases			14,297,791				14,409,243				14,144,061				13,964,114
Premises and equipment, net			304,848				304,025				303,496				302,983
Accrued interest receivable			75,204				76,622				77,641				77,878
Bank-owned life insurance			525,898				521,137				513,182				507,950
Goodwill			995,492				995,492				995,492				995,492
Mortgage servicing rights			4,164				4,302				4,638				4,728
Other assets			866,748				816,349				828,305				808,567
Total assets		$	23,764,015			$	23,646,049			$	23,955,252			$	24,098,728
Liabilities and Stockholders' Equity
Deposits:
Interest-bearing		$	13,803,664			$	13,706,392			$	13,968,376			$	13,947,385
Noninterest-bearing			6,400,906				6,447,789				6,547,292				6,782,172
Total deposits			20,204,570				20,154,181				20,515,668				20,729,557
Retirement benefits payable			96,570				97,409				99,052				94,504
Other liabilities			645,331				568,431				571,167				540,746
Total liabilities			20,946,471				20,820,021				21,185,887				21,364,807
Stockholders' equity
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,662,115 / 121,681,352 shares as of September 30, 2026, issued/outstanding: 142,661,019 / 121,680,634 shares as of June 30, 2026, issued/outstanding: 142,184,584 / 122,689,256 shares as of December 31, 2025 and issued/outstanding: 142,173,027 / 123,719,585 shares as of September 30, 2025)			1,427				1,427				1,422				1,422
Additional paid-in capital			2,588,530				2,584,578				2,576,540				2,572,156
Retained earnings			1,187,636				1,156,028				1,078,885				1,041,573
Accumulated other comprehensive loss, net			(403,826	)			(359,793	)			(368,140	)			(388,149	)
Treasury stock (20,980,763 shares as of September 30, 2026, 20,980,385 shares as of June 30, 2026, 19,495,328 shares as of December 31, 2025 and 18,453,442 shares as of September 30, 2025)			(556,223	)			(556,212	)			(519,342	)			(493,081	)
Total stockholders' equity			2,817,544				2,826,028				2,769,365				2,733,921
Total liabilities and stockholders' equity		$	23,764,015			$	23,646,049			$	23,955,252			$	24,098,728

Average Balances and Interest Rates																								Table 4
		Three Months Ended								Three Months Ended								Three Months Ended
		September 30, 2026								June 30, 2026								September 30, 2025
		Average			Income/			Yield/		Average			Income/			Yield/		Average			Income/			Yield/
(dollars in millions)		Balance			Expense			Rate		Balance			Expense			Rate		Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks		$	1,162.4		$	10.9		3.73	%	$	1,142.4		$	10.5		3.68	%	$	1,471.0		$	16.3		4.40	%
Available-for-Sale Investment Securities
Taxable			2,060.5			16.2		3.14			2,081.7			15.8		3.05			1,921.2			13.5		2.80
Non-Taxable			0.1			—		2.20			0.4			—		4.42			1.2			—		5.07
Held-to-Maturity Investment Securities
Taxable			2,795.2			11.8		1.69			2,860.7			12.1		1.69			3,036.1			12.8		1.68
Non-Taxable			587.9			3.3		2.26			590.3			3.3		2.23			595.5			3.6		2.39
Total Investment Securities			5,443.7			31.3		2.30			5,533.1			31.2		2.26			5,554.0			29.9		2.15
Loans Held for Sale			0.9			—		5.82			0.6			—		5.68			0.9			—		5.71
Loans and Leases(1)
Commercial and industrial			2,328.7			33.2		5.66			2,275.4			32.3		5.69			2,144.0			33.6		6.22
Commercial real estate			4,741.5			68.6		5.74			4,736.0			67.6		5.73			4,481.5			69.9		6.18
Construction			705.8			11.8		6.60			770.2			12.4		6.48			891.9			15.2		6.78
Residential:
Residential mortgage			4,029.1			40.5		4.02			4,038.8			40.9		4.05			4,077.1			40.4		3.96
Home equity line			1,178.7			14.6		4.91			1,181.8			14.2		4.82			1,167.0			14.0		4.76
Consumer			1,066.3			20.8		7.74			1,044.1			20.1		7.74			1,018.4			19.6		7.63
Lease financing			446.6			3.7		3.31			441.9			3.9		3.51			429.4			4.3		3.98
Total Loans and Leases			14,496.7			193.2		5.30			14,488.2			191.4		5.30			14,209.3			197.0		5.51
Other Earning Assets			24.5			0.2		3.07			28.7			0.2		2.36			36.6			0.4		4.72
Total Earning Assets(2)			21,128.2			235.6		4.44			21,193.0			233.3		4.41			21,271.8			243.6		4.55
Cash and Due from Banks			241.0								239.1								243.3
Other Assets			2,586.1								2,522.3								2,478.6
Total Assets		$	23,955.3							$	23,954.4							$	23,993.7
Interest-Bearing Liabilities
Interest-Bearing Deposits
Savings		$	6,248.0		$	18.0		1.15	%	$	6,407.4		$	19.6		1.23	%	$	6,331.6		$	21.9		1.37	%
Money Market			4,358.4			20.3		1.84			4,321.3			19.5		1.81			3,837.6			23.4		2.42
Time			3,268.9			21.9		2.66			3,275.3			22.1		2.71			3,353.9			25.5		3.02
Total Interest-Bearing Deposits			13,875.3			60.2		1.72			14,004.0			61.2		1.75			13,523.1			70.8		2.08
Federal Funds Purchased			0.1			—		3.77			—			—		—			—			—		—
Other Short-Term Borrowings			—			—		—			—			—		—			206.5			2.2		4.22
Other Interest-Bearing Liabilities			27.3			0.2		3.29			19.5			0.2		3.16			14.4			0.2		5.46
Total Interest-Bearing Liabilities			13,902.7			60.4		1.72			14,023.5			61.4		1.76			13,744.0			73.2		2.11
Net Interest Income					$	175.2							$	171.9							$	170.4
Interest Rate Spread(3)								2.72	%							2.65	%							2.44	%
Net Interest Margin(4)								3.30	%							3.25	%							3.19	%
Noninterest-Bearing Demand Deposits			6,533.3								6,479.3								6,888.0
Other Liabilities			673.5								654.7								651.4
Stockholders' Equity			2,845.8								2,796.9								2,710.3
Total Liabilities and Stockholders' Equity		$	23,955.3							$	23,954.4							$	23,993.7

^{______________________________________
(1)}  Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

⁽²⁾  Interest income includes taxable-equivalent basis adjustments of $1.1 million, $0.9 million and $1.0 million for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, respectively.

⁽³⁾  Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

⁽⁴⁾  Net interest margin is net interest income annualized for the three months ended September 30, 2026, June 30, 2026 and September 30, 2025, on a fully taxable-equivalent basis, divided by average total earning assets.

Average Balances and Interest Rates																Table 5
		Nine Months Ended								Nine Months Ended
		September 30, 2026								September 30, 2025
		Average			Income/			Yield/		Average			Income/			Yield/
(dollars in millions)		Balance			Expense			Rate		Balance			Expense			Rate
Earning Assets
Interest-Bearing Deposits in Other Banks		$	1,252.2		$	34.6		3.69	%	$	1,307.4		$	43.3		4.43	%
Available-for-Sale Investment Securities
Taxable			2,064.3			46.9		3.03			1,894.1			39.0		2.75
Non-Taxable			0.4			—		4.57			1.3			0.1		5.31
Held-to-Maturity Investment Securities
Taxable			2,857.0			35.9		1.67			3,099.5			39.6		1.70
Non-Taxable			590.3			10.1		2.29			597.0			10.5		2.37
Total Investment Securities			5,512.0			92.9		2.25			5,591.9			89.2		2.13
Loans Held for Sale			0.8			—		5.80			0.5			—		6.03
Loans and Leases(1)
Commercial and industrial			2,258.8			96.3		5.70			2,210.6			102.5		6.20
Commercial real estate			4,695.8			201.2		5.73			4,431.6			203.2		6.13
Construction			750.3			36.6		6.52			909.6			45.6		6.71
Residential:
Residential mortgage			4,049.7			122.4		4.03			4,110.2			121.5		3.94
Home equity line			1,178.7			42.4		4.81			1,157.2			40.4		4.67
Consumer			1,048.4			61.0		7.77			1,017.2			57.7		7.58
Lease financing			443.9			11.7		3.52			432.6			12.8		3.96
Total Loans and Leases			14,425.6			571.6		5.29			14,269.0			583.7		5.47
Other Earning Assets			26.6			0.6		2.63			34.4			1.3		5.03
Total Earning Assets(2)			21,217.2			699.7		4.41			21,203.2			717.5		4.52
Cash and Due from Banks			235.6								233.9
Other Assets			2,544.4								2,477.8
Total Assets		$	23,997.2							$	23,914.9
Interest-Bearing Liabilities
Interest-Bearing Deposits
Savings		$	6,352.7		$	56.6		1.19	%	$	6,270.9		$	64.1		1.37	%
Money Market			4,346.2			59.5		1.83			3,860.3			69.2		2.40
Time			3,308.1			67.4		2.72			3,353.6			79.5		3.17
Total Interest-Bearing Deposits			14,007.0			183.5		1.75			13,484.8			212.8		2.11
Federal Funds Purchased			—			—		3.77			—			—		—
Other Short-Term Borrowings			—			—		—			235.3			7.4		4.22
Other Interest-Bearing Liabilities			19.8			0.5		3.27			20.9			0.8		4.84
Total Interest-Bearing Liabilities			14,026.8			184.0		1.75			13,741.0			221.0		2.15
Net Interest Income					$	515.7							$	496.5
Interest Rate Spread(3)								2.66	%							2.37	%
Net Interest Margin(4)								3.25	%							3.13	%
Noninterest-Bearing Demand Deposits			6,497.4								6,863.8
Other Liabilities			662.3								637.8
Stockholders' Equity			2,810.7								2,672.3
Total Liabilities and Stockholders' Equity		$	23,997.2							$	23,914.9

^{______________________________________
(1)}  Non-performing loans and leases are included in the respective average loan and lease balances. Income, if any, on such loans and leases is recognized on a cash basis.

⁽²⁾  Interest income includes taxable-equivalent basis adjustments of $3.1 million for both the nine months ended September 30, 2026 and 2025, respectively.

⁽³⁾  Interest rate spread is the difference between the average yield on earning assets and the average rate paid on interest-bearing liabilities, on a fully taxable-equivalent basis.

⁽⁴⁾  Net interest margin is net interest income annualized for the nine months ended September 30, 2026 and 2025, on a fully taxable-equivalent basis, divided by average total earning assets.

Analysis of Change in Net Interest Income											Table 6
		Three Months Ended September 30, 2026
		Compared to June 30, 2026
(dollars in millions)		Volume				Rate				Total (1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	0.2			$	0.2			$	0.4
Available-for-Sale Investment Securities
Taxable			(0.1	)			0.5				0.4
Held-to-Maturity Investment Securities
Taxable			(0.3	)			—				(0.3	)
Total Investment Securities			(0.4	)			0.5				0.1
Loans and Leases
Commercial and industrial			1.0				(0.1	)			0.9
Commercial real estate			0.4				0.6				1.0
Construction			(0.9	)			0.3				(0.6	)
Residential:
Residential mortgage			(0.1	)			(0.3	)			(0.4	)
Home equity line			—				0.4				0.4
Consumer			0.7				—				0.7
Lease financing			—				(0.2	)			(0.2	)
Total Loans and Leases			1.1				0.7				1.8
Total Change in Interest Income			0.9				1.4				2.3
Change in Interest Expense:
Interest-Bearing Deposits
Savings			(0.4	)			(1.2	)			(1.6	)
Money Market			0.3				0.5				0.8
Time			—				(0.2	)			(0.2	)
Total Interest-Bearing Deposits			(0.1	)			(0.9	)			(1.0	)
Total Change in Interest Expense			(0.1	)			(0.9	)			(1.0	)
Change in Net Interest Income		$	1.0			$	2.3			$	3.3

^{____________________________________
(1)}  The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Analysis of Change in Net Interest Income											Table 7
		Three Months Ended September 30, 2026
		Compared to September 30, 2025
(dollars in millions)		Volume				Rate				Total (1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	(3.1	)		$	(2.3	)		$	(5.4	)
Available-for-Sale Investment Securities
Taxable			1.0				1.7				2.7
Held-to-Maturity Investment Securities
Taxable			(1.1	)			0.1				(1.0	)
Non-Taxable			(0.1	)			(0.2	)			(0.3	)
Total Investment Securities			(0.2	)			1.6				1.4
Loans and Leases
Commercial and industrial			2.7				(3.1	)			(0.4	)
Commercial real estate			3.8				(5.1	)			(1.3	)
Construction			(3.0	)			(0.4	)			(3.4	)
Residential:
Residential mortgage			(0.5	)			0.6				0.1
Home equity line			0.2				0.4				0.6
Consumer			0.9				0.3				1.2
Lease financing			0.2				(0.8	)			(0.6	)
Total Loans and Leases			4.3				(8.1	)			(3.8	)
Other Earning Assets			(0.1	)			(0.1	)			(0.2	)
Total Change in Interest Income			0.9				(8.9	)			(8.0	)
Change in Interest Expense:
Interest-Bearing Deposits
Savings			(0.3	)			(3.6	)			(3.9	)
Money Market			2.9				(6.0	)			(3.1	)
Time			(0.6	)			(3.0	)			(3.6	)
Total Interest-Bearing Deposits			2.0				(12.6	)			(10.6	)
Other Short-Term Borrowings			(1.1	)			(1.1	)			(2.2	)
Other Interest-Bearing Liabilities			0.1				(0.1	)			—
Total Change in Interest Expense			1.0				(13.8	)			(12.8	)
Change in Net Interest Income		$	(0.1	)		$	4.9			$	4.8

^{______________________________________
(1)}   The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Analysis of Change in Net Interest Income											Table 8
		Nine Months Ended September 30, 2026
		Compared to September 30, 2025
(dollars in millions)		Volume				Rate				Total (1)
Change in Interest Income:
Interest-Bearing Deposits in Other Banks		$	(1.8	)		$	(6.9	)		$	(8.7	)
Available-for-Sale Investment Securities
Taxable			3.7				4.2				7.9
Non-Taxable			(0.1	)			—				(0.1	)
Held-to-Maturity Investment Securities
Taxable			(3.0	)			(0.7	)			(3.7	)
Non-Taxable			(0.1	)			(0.3	)			(0.4	)
Total Investment Securities			0.5				3.2				3.7
Loans and Leases
Commercial and industrial			2.2				(8.4	)			(6.2	)
Commercial real estate			11.7				(13.7	)			(2.0	)
Construction			(7.7	)			(1.3	)			(9.0	)
Residential:
Residential mortgage			(1.8	)			2.7				0.9
Home equity line			0.8				1.2				2.0
Consumer			1.8				1.5				3.3
Lease financing			0.3				(1.4	)			(1.1	)
Total Loans and Leases			7.3				(19.4	)			(12.1	)
Other Earning Assets			(0.2	)			(0.5	)			(0.7	)
Total Change in Interest Income			5.8				(23.6	)			(17.8	)
Change in Interest Expense:
Interest-Bearing Deposits
Savings			0.9				(8.4	)			(7.5	)
Money Market			8.0				(17.7	)			(9.7	)
Time			(1.1	)			(11.0	)			(12.1	)
Total Interest-Bearing Deposits			7.8				(37.1	)			(29.3	)
Other Short-Term Borrowings			(3.7	)			(3.7	)			(7.4	)
Other Interest-Bearing Liabilities			—				(0.3	)			(0.3	)
Total Change in Interest Expense			4.1				(41.1	)			(37.0	)
Change in Net Interest Income		$	1.7			$	17.5			$	19.2

^{______________________________________
(1)}  The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis to the volume and rate columns.

Loans and Leases												Table 9
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2026			2026			2025			2025
Commercial and industrial		$	2,304,567		$	2,339,882		$	2,171,333		$	2,027,504
Commercial real estate			4,714,502			4,783,130			4,590,326			4,513,706
Construction			739,531			731,766			808,275			881,462
Residential:
Residential mortgage			3,996,717			4,044,207			4,096,300			4,077,946
Home equity line			1,177,610			1,181,396			1,178,527			1,170,822
Total residential			5,174,327			5,225,603			5,274,827			5,248,768
Consumer			1,067,697			1,046,461			1,025,838			1,013,663
Lease financing			461,604			450,457			441,930			444,280
Total loans and leases		$	14,462,228		$	14,577,299		$	14,312,529		$	14,129,383

Deposits												Table 10
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2026			2026			2025			2025
Demand		$	6,400,906		$	6,447,789		$	6,547,292		$	6,782,172
Savings			6,248,848			6,132,746			6,308,873			6,691,136
Money Market			4,313,623			4,283,982			4,289,370			3,874,614
Time			3,241,193			3,289,664			3,370,133			3,381,635
Total Deposits		$	20,204,570		$	20,154,181		$	20,515,668		$	20,729,557

Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More												Table 11
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands)		2026			2026			2025			2025
Non-Performing Assets
Non-Accrual Loans and Leases
Commercial Loans:
Commercial and industrial		$	1,688		$	4,054		$	8,805		$	1,084
Commercial real estate			13,833			2,879			3,007			3,089
Construction			1,064			1,788			1,788			904
Lease financing			115			680			734			169
Total Commercial Loans			16,700			9,401			14,334			5,246
Residential Loans:
Residential mortgage			19,244			18,675			16,423			16,702
Home equity line			10,030			11,425			10,271			8,385
Total Residential Loans			29,274			30,100			26,694			25,087
Consumer			—			—			—			600
Total Non-Accrual Loans and Leases			45,974			39,501			41,028			30,933
Total Non-Performing Assets		$	45,974		$	39,501		$	41,028		$	30,933
Accruing Loans and Leases Past Due 90 Days or More
Commercial Loans:
Commercial and industrial		$	403		$	249		$	318		$	633
Commercial real estate			1,690			—			—			—
Construction			—			—			—			2,063
Total Commercial Loans			2,093			249			318			2,696
Residential mortgage			14,963			771			55			627
Consumer			2,171			3,073			2,984			2,566
Total Accruing Loans and Leases Past Due 90 Days or More		$	19,227		$	4,093		$	3,357		$	5,889
Total Loans and Leases		$	14,462,228		$	14,577,299		$	14,312,529		$	14,129,383

Allowance for Credit Losses and Reserve for Unfunded Commitments		Table 12
		For the Three Months Ended												For the Nine Months Ended
		September 30,				June 30,				September 30,				September 30,				September 30,
(dollars in thousands)		2026				2026				2025				2026				2025
Balance at Beginning of Period		$	205,728			$	204,265			$	201,172			$	204,165			$	193,240
Loans and Leases Charged-Off
Commercial Loans:
Commercial and industrial			(6,918	)			(769	)			(1,106	)			(10,312	)			(3,253	)
Commercial real estate			(12,465	)			—				—				(12,465	)			—
Lease financing			(6	)			—				(580	)			(6	)			(662	)
Total Commercial Loans			(19,389	)			(769	)			(1,686	)			(22,783	)			(3,915	)
Home equity line			—				(23	)			—				(23	)			(30	)
Consumer			(6,281	)			(5,490	)			(4,719	)			(16,615	)			(14,287	)
Total Loans and Leases Charged-Off			(25,670	)			(6,282	)			(6,405	)			(39,421	)			(18,232	)
Recoveries on Loans and Leases Previously Charged-Off
Commercial Loans:
Commercial and industrial			1,444				281				410				1,991				1,009
Commercial real estate			—				—				—				—				251
Lease financing			—				—				—				3				—
Total Commercial Loans			1,444				281				410				1,994				1,260
Residential Loans:
Residential mortgage			11				16				14				40				143
Home equity line			69				28				26				136				122
Total Residential Loans			80				44				40				176				265
Consumer			2,198				1,820				1,749				6,266				5,433
Total Recoveries on Loans and Leases Previously Charged-Off			3,722				2,145				2,199				8,436				6,958
Net Loans and Leases Charged-Off			(21,948	)			(4,137	)			(4,206	)			(30,985	)			(11,274	)
Provision for Credit Losses			20,308				5,600				4,500				30,908				19,500
Balance at End of Period		$	204,088			$	205,728			$	201,466			$	204,088			$	201,466
Components:
Allowance for Credit Losses		$	164,437			$	168,056			$	165,269			$	164,437			$	165,269
Reserve for Unfunded Commitments			39,651				37,672				36,197				39,651				36,197
Total Allowance for Credit Losses and Reserve for Unfunded Commitments		$	204,088			$	205,728			$	201,466			$	204,088			$	201,466
Average Loans and Leases Outstanding		$	14,496,740			$	14,488,213			$	14,209,282			$	14,425,550			$	14,269,030
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding(1)			0.60		%		0.11		%		0.12		%		0.29		%		0.11		%
Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding			1.14		%		1.15		%		1.17		%		1.14		%		1.17		%
Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases			3.58x				4.25x				5.34x				3.58x				5.34x

^{____________________________________
(1)}  Annualized for the three and nine months ended September 30, 2026 and 2025 and three months ended June 30, 2026.

Loans and Leases by Year of Origination and Credit Quality Indicator																											Table 13
																							Revolving
																							Loans
																							Converted
		Term Loans																		Revolving			to Term
		Amortized Cost Basis by Origination Year																		Loans			Loans
																				Amortized			Amortized
(dollars in thousands)		2026			2025			2024			2023			2022			Prior			Cost Basis			Cost Basis			Total
Commercial Lending
Commercial and Industrial
Risk rating:
Pass		$	202,063		$	241,039		$	149,553		$	57,135		$	51,359		$	289,563		$	1,146,313		$	28,352		$	2,165,377
Special Mention			417			3,541			549			1,523			1,899			746			6,318			—			14,993
Substandard			139			184			500			429			2,908			18,158			5,300			—			27,618
Other (1)			17,281			13,451			6,347			2,954			2,249			2,043			52,254			—			96,579
Total Commercial and Industrial			219,900			258,215			156,949			62,041			58,415			310,510			1,210,185			28,352			2,304,567
Current period gross charge-offs			—			129			1,864			259			2,180			3,214			2,666			—			10,312
Commercial Real Estate
Risk rating:
Pass			538,756			723,291			364,311			391,394			585,898			1,643,436			114,656			6,267			4,368,009
Special Mention			419			—			3,608			1,644			171,581			48,290			964			—			226,506
Substandard			889			—			5,287			689			37,464			61,603			13,940			—			119,872
Other (1)			—			—			—			—			—			115			—			—			115
Total Commercial Real Estate			540,064			723,291			373,206			393,727			794,943			1,753,444			129,560			6,267			4,714,502
Current period gross charge-offs			—			—			—			—			—			12,465			—			—			12,465
Construction
Risk rating:
Pass			64,419			174,295			235,743			53,119			148,418			11,369			3,579			—			690,942
Special Mention			—			—			—			—			22,591			—			—			—			22,591
Substandard			—			—			—			—			—			904			—			—			904
Other (1)			4,740			8,669			4,719			2,805			1,719			1,767			675			—			25,094
Total Construction			69,159			182,964			240,462			55,924			172,728			14,040			4,254			—			739,531
Current period gross charge-offs			—			—			—			—			—			—			—			—			—
Lease Financing
Risk rating:
Pass			118,981			61,372			75,171			82,562			32,936			89,720			—			—			460,742
Special Mention			—			—			68			382			57			—			—			—			507
Substandard			—			132			172			51			—			—			—			—			355
Total Lease Financing			118,981			61,504			75,411			82,995			32,993			89,720			—			—			461,604
Current period gross charge-offs			—			—			6			—			—			—			—			—			6
Total Commercial Lending		$	948,104		$	1,225,974		$	846,028		$	594,687		$	1,059,079		$	2,167,714		$	1,343,999		$	34,619		$	8,220,204
Current period gross charge-offs		$	—		$	129		$	1,870		$	259		$	2,180		$	15,679		$	2,666		$	—		$	22,783

(continued)

																							Revolving
																							Loans
																							Converted
		Term Loans																		Revolving			to Term
		Amortized Cost Basis by Origination Year																		Loans			Loans
(continued)																				Amortized			Amortized
(dollars in thousands)		2026			2025			2024			2023			2022			Prior			Cost Basis			Cost Basis			Total
Residential Lending
Residential Mortgage
FICO:
740 and greater		$	157,553		$	187,527		$	127,156		$	155,856		$	413,991		$	2,176,053		$	—		$	—		$	3,218,136
680 - 739			22,002			18,668			15,661			24,033			67,424			275,860			—			—			423,648
620 - 679			2,635			8,008			8,553			5,716			18,661			69,081			—			—			112,654
550 - 619			—			1,060			—			1,945			5,375			16,974			—			—			25,354
Less than 550			—			—			—			441			3,802			17,872			—			—			22,115
No Score (3)			7,850			5,511			2,887			4,728			15,250			47,394			—			—			83,620
Other (2)			4,764			22,123			6,499			17,778			12,991			38,541			8,494			—			111,190
Total Residential Mortgage			194,804			242,897			160,756			210,497			537,494			2,641,775			8,494			—			3,996,717
Current period gross charge-offs			—			—			—			—			—			—			—			—			—
Home Equity Line
FICO:
740 and greater			—			—			—			—			—			—			924,498			332			924,830
680 - 739			—			—			—			—			—			—			179,779			1,604			181,383
620 - 679			—			—			—			—			—			—			47,607			633			48,240
550 - 619			—			—			—			—			—			—			13,382			375			13,757
Less than 550			—			—			—			—			—			—			8,612			30			8,642
No Score (3)			—			—			—			—			—			—			758			—			758
Total Home Equity Line			—			—			—			—			—			—			1,174,636			2,974			1,177,610
Current period gross charge-offs			—			—			—			—			—			—			23			—			23
Total Residential Lending		$	194,804		$	242,897		$	160,756		$	210,497		$	537,494		$	2,641,775		$	1,183,130		$	2,974		$	5,174,327
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	23		$	—		$	23
Consumer Lending
FICO:
740 and greater		$	95,688		$	85,965		$	48,787		$	29,752		$	28,841		$	9,062		$	98,607		$	61		$	396,763
680 - 739			76,834			67,554			33,419			17,684			14,466			5,241			86,795			581			302,574
620 - 679			46,475			34,123			14,524			8,382			7,706			3,947			50,763			900			166,820
550 - 619			8,343			13,276			7,917			5,138			4,675			2,581			17,429			809			60,168
Less than 550			2,360			5,503			4,270			2,208			2,523			1,334			5,572			573			24,343
No Score (3)			4,376			274			3			17			—			10			37,409			201			42,290
Other (2)			201			3,389			—			—			—			1,472			69,677			—			74,739
Total Consumer Lending		$	234,277		$	210,084		$	108,920		$	63,181		$	58,211		$	23,647		$	366,252		$	3,125		$	1,067,697
Current period gross charge-offs		$	525		$	2,613		$	1,778		$	1,435		$	786		$	1,772		$	7,162		$	544		$	16,615
Total Loans and Leases		$	1,377,185		$	1,678,955		$	1,115,704		$	868,365		$	1,654,784		$	4,833,136		$	2,893,381		$	40,718		$	14,462,228
Current period gross charge-offs		$	525		$	2,742		$	3,648		$	1,694		$	2,966		$	17,451		$	9,851		$	544		$	39,421

_____________________________

⁽¹⁾  Other credit quality indicators used for monitoring purposes are primarily FICO scores. The majority of the loans in this population were originated to borrowers with a prime FICO score (680 and above). As of September 30, 2026, the majority of the loans in this population were current.

⁽²⁾  Other credit quality indicators used for monitoring purposes are primarily internal risk ratings. The majority of the loans in this population were graded with a “Pass” rating. As of September 30, 2026, the majority of the loans in this population were current.

⁽³⁾  No FICO scores are primarily related to loans and leases extended to non-residents. Loans and leases of this nature are primarily secured by collateral and/or are closely monitored for performance.

GAAP to Non-GAAP Reconciliation		Table 14
		For the Three Months Ended									For the Nine Months Ended
		September 30,			June 30,			September 30,			September 30,
(dollars in thousands)		2026			2026			2025			2026			2025
Income Statement Data:
Net income		$	63,730		$	73,375		$	73,840		$	204,889		$	206,335
Average total stockholders' equity		$	2,845,750		$	2,796,857		$	2,710,273		$	2,810,686		$	2,672,284
Less: average goodwill			995,492			995,492			995,492			995,492			995,492
Average tangible stockholders' equity		$	1,850,258		$	1,801,365		$	1,714,781		$	1,815,194		$	1,676,792
Average total assets		$	23,955,273		$	23,954,425		$	23,993,685		$	23,997,190		$	23,914,896
Less: average goodwill			995,492			995,492			995,492			995,492			995,492
Average tangible assets		$	22,959,781		$	22,958,933		$	22,998,193		$	23,001,698		$	22,919,404
Return on average total stockholders' equity(1)			8.88	%		10.52	%		10.81	%		9.75	%		10.32	%
Return on average tangible stockholders' equity (non-GAAP)(1)			13.67	%		16.34	%		17.08	%		15.09	%		16.45	%
Return on average total assets(1)			1.06	%		1.23	%		1.22	%		1.14	%		1.15	%
Return on average tangible assets (non-GAAP)(1)			1.10	%		1.28	%		1.27	%		1.19	%		1.20	%

		As of			As of			As of			As of
		September 30,			June 30,			December 31,			September 30,
(dollars in thousands, except per share amounts)		2026			2026			2025			2025
Balance Sheet Data:
Total stockholders' equity		$	2,817,544		$	2,826,028		$	2,769,365		$	2,733,921
Less: goodwill			995,492			995,492			995,492			995,492
Tangible stockholders' equity		$	1,822,052		$	1,830,536		$	1,773,873		$	1,738,429
Total assets		$	23,764,015		$	23,646,049		$	23,955,252		$	24,098,728
Less: goodwill			995,492			995,492			995,492			995,492
Tangible assets		$	22,768,523		$	22,650,557		$	22,959,760		$	23,103,236
Shares outstanding			121,681,352			121,680,634			122,689,256			123,719,585
Total stockholders' equity to total assets			11.86	%		11.95	%		11.56	%		11.34	%
Tangible stockholders' equity to tangible assets (non-GAAP)			8.00	%		8.08	%		7.73	%		7.52	%
Book value per share		$	23.16		$	23.22		$	22.57		$	22.10
Tangible book value per share (non-GAAP)		$	14.97		$	15.04		$	14.46		$	14.05

^{____________________________________
(1)}   Annualized for the three and nine months ended September 30, 2026 and 2025 and three months ended June 30, 2026.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were First Hawaiian’s third-quarter 2026 earnings?

First Hawaiian earned $63.7 million, or $0.52 per diluted share, in the quarter ended September 30, 2026. That compares with $73.4 million, or $0.60 per diluted share, in the preceding quarter and $73.8 million, or $0.59 per diluted share, a year earlier.

When will First Hawaiian pay its third-quarter 2026 dividend?

The $0.26 per-share quarterly cash dividend is payable November 27, 2026, to stockholders of record at the close of business November 16, 2026. The quarterly amount is unchanged from the preceding quarter and the year-earlier quarter.

Did First Hawaiian repurchase shares in the third quarter of 2026?

First Hawaiian did not repurchase any shares during the third quarter of 2026.