Enterprise Financial Q3 2026 earnings fall to $42.4M
EFSC's loans rose $452.3 million and deposits $624.4 million quarter over quarter, while its credit-loss provision was $18.1 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Enterprise Financial Services Corp (EFSC) reported third-quarter 2026 net income of $42.4 million, down $2.8 million from the prior-year quarter; diluted earnings were $1.14 per share versus $1.19. Net interest income was $174.6 million, up $16.3 million year over year, while net interest margin was 4.30%, compared with 4.23% a year earlier.
At September 30, loans totaled $12.3 billion, up $452.3 million from June 30, and deposits were $15.1 billion, up $624.4 million. The provision for credit losses was $18.1 million versus $8.4 million a year earlier. Nonperforming assets were 1.03% of total assets, compared with 0.83% a year earlier; the allowance for credit losses was 1.17% of loans.
EFSC repurchased 525,767 shares for $34.0 million during the quarter. The board approved a fourth-quarter common dividend of $0.36 per share, up $0.01, payable December 31, 2026, to holders of record December 15. It also declared a preferred dividend of $12.50 per share, or $0.3125 per depositary share, payable December 15 to holders of record November 30.
How this balance works
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It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointNet interest income rose $16.3 million year over year to $174.6 million.
- Minor point. Forward-looking: it has not happened yet and may not happen.Quarterly common dividend increased $0.01 to $0.36 per share for fourth-quarter 2026.
Negative
- Moderate pointNet income fell $2.8 million year over year to $42.4 million.
Insights
Analyzing...
Filing Explained
At September 30, EFSC's tangible common equity ratio was 8.13%, down from 9.04% at June 30, while nonperforming assets rose to 1.03% of assets.
This 8-K reports EFSC's third-quarter results and documents a lower quarter-end common-equity position.
The company attributes the decline in total equity primarily to higher unrealized losses on available-for-sale securities associated with increased interest rates. The quarter's regulatory capital ratios are preliminary, pending completion and filing of regulatory reports and regulatory review.
Separately, nonperforming assets rose to
8-K Event Classification
Key Figures
Key Terms
Net interest margin financial
Pre-provision net revenue financial
nonperforming assets financial
tax-equivalent basis financial
tangible common equity to tangible assets financial
Earnings Snapshot
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were EFSC's third-quarter 2026 earnings?
What common dividend did EFSC approve for the fourth quarter of 2026?
How many shares did EFSC repurchase in the third quarter, and at what average price?
AI-generated analysis. How Rhea-AI works. Not financial advice.
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices) | (Zip Code) | ||||
| Not applicable | ||
(Former name or former address, if changed since last report) | ||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| Exhibit Number | Description | |||||||
| 99.1 | Press Release dated October 21, 2026. | |||||||
| 99.2 | Presentation to be conducted October 22, 2026. | |||||||
| 104 | The cover page of this Current Report on Form 8-K, formatted in Inline XBRL. | |||||||
| ENTERPRISE FINANCIAL SERVICES CORP | ||||||||||||||
| Date: | October 21, 2026 | By: | /s/ Troy R. Dumlao | |||||||||||
| Troy R. Dumlao | ||||||||||||||
| Executive Vice President and Chief Accounting Officer | ||||||||||||||

| Quarter ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | Average Balance | Interest Income/ Expense | Average Yield/ Rate | Average Balance | Interest Income/ Expense | Average Yield/ Rate | Average Balance | Interest Income/ Expense | Average Yield/ Rate | ||||||||||||||||||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans1, 2 | $ | 12,067,288 | $ | 195,309 | 6.42 | % | $ | 11,775,879 | $ | 188,819 | 6.43 | % | $ | 11,454,183 | $ | 191,589 | 6.64 | % | |||||||||||||||||||||||||||||||||||
| Taxable securities | 2,589,972 | 29,378 | 4.50 | 2,539,301 | 27,898 | 4.41 | 2,100,748 | 21,705 | 4.10 | ||||||||||||||||||||||||||||||||||||||||||||
Non-taxable securities2 | 1,294,511 | 12,510 | 3.83 | 1,294,693 | 12,317 | 3.82 | 1,252,557 | 11,503 | 3.64 | ||||||||||||||||||||||||||||||||||||||||||||
| Total securities | 3,884,483 | 41,888 | 4.28 | 3,833,994 | 40,215 | 4.21 | 3,353,305 | 33,208 | 3.93 | ||||||||||||||||||||||||||||||||||||||||||||
| Interest-earning deposits | 465,119 | 4,343 | 3.70 | 431,044 | 3,697 | 3.44 | 328,392 | 3,638 | 4.40 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-earning assets | 16,416,890 | 241,540 | 5.84 | 16,040,917 | 232,731 | 5.82 | 15,135,880 | 228,435 | 5.99 | ||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-earning assets | 1,279,189 | 1,266,799 | 1,042,208 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 17,696,079 | $ | 17,307,716 | $ | 16,178,088 | |||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities and Stockholders’ Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand accounts | $ | 3,641,074 | $ | 16,877 | 1.84 | % | $ | 3,438,895 | $ | 15,149 | 1.77 | % | $ | 3,298,022 | $ | 17,488 | 2.10 | % | |||||||||||||||||||||||||||||||||||
| Money market accounts | 4,047,970 | 26,316 | 2.58 | 4,009,504 | 25,788 | 2.58 | 3,706,891 | 28,734 | 3.08 | ||||||||||||||||||||||||||||||||||||||||||||
| Savings accounts | 536,184 | 170 | 0.13 | 546,880 | 164 | 0.12 | 532,015 | 183 | 0.14 | ||||||||||||||||||||||||||||||||||||||||||||
| Certificates of deposit | 1,697,479 | 14,648 | 3.42 | 1,698,565 | 14,569 | 3.44 | 1,609,346 | 15,210 | 3.75 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 9,922,707 | 58,011 | 2.32 | 9,693,844 | 55,670 | 2.30 | 9,146,274 | 61,615 | 2.67 | ||||||||||||||||||||||||||||||||||||||||||||
| Subordinated debentures and notes | 262,795 | 4,408 | 6.65 | 120,277 | 2,061 | 6.87 | 136,895 | 2,683 | 7.78 | ||||||||||||||||||||||||||||||||||||||||||||
| FHLB advances | 19,511 | 200 | 4.07 | 88,011 | 861 | 3.92 | 106,130 | 1,207 | 4.51 | ||||||||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 169,322 | 914 | 2.14 | 200,060 | 1,162 | 2.33 | 159,039 | 1,155 | 2.88 | ||||||||||||||||||||||||||||||||||||||||||||
| Other borrowings | 36,262 | 95 | 1.04 | 84,609 | 843 | 4.00 | 56,164 | 444 | 3.14 | ||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 10,410,597 | 63,628 | 2.42 | 10,186,801 | 60,597 | 2.39 | 9,604,502 | 67,104 | 2.77 | ||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits | 5,065,373 | 4,914,670 | 4,458,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities | 179,865 | 154,012 | 151,432 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 15,655,835 | 15,255,483 | 14,213,962 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Stockholders' equity | 2,040,244 | 2,052,233 | 1,964,126 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 17,696,079 | $ | 17,307,716 | $ | 16,178,088 | |||||||||||||||||||||||||||||||||||||||||||||||
| Total net interest income | $ | 177,912 | $ | 172,134 | $ | 161,331 | |||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin | 4.30 | % | 4.30 | % | 4.23 | % | |||||||||||||||||||||||||||||||||||||||||||||||
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $2.0 million, $1.5 million, and $1.9 million for each of the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $3.3 million, $3.4 million, and $3.0 million for each of the three months ended September 30, 2026, June 30, 2026, and September 30, 2025, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | September 30, 2025 | |||||||||||||||||||||||||||||||||
| ($ in thousands) | Carrying Value | Net Unrealized Loss | Carrying Value | Net Unrealized Loss | Carrying Value | Net Unrealized Loss | |||||||||||||||||||||||||||||
| Available-for-sale (AFS) | $ | 2,730,596 | $ | (251,071) | $ | 2,795,725 | $ | (101,080) | $ | 2,351,493 | $ | (102,269) | |||||||||||||||||||||||
| Held-to-maturity (HTM) | 1,030,084 | (116,265) | 1,036,477 | (38,163) | 1,081,847 | (49,656) | |||||||||||||||||||||||||||||
| Total | $ | 3,760,680 | $ | (367,336) | $ | 3,832,202 | $ | (139,243) | $ | 3,433,340 | $ | (151,925) | |||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| C&I | $ | 2,707,185 | $ | 2,628,065 | $ | 2,655,273 | $ | 2,606,472 | $ | 2,320,868 | |||||||||||||||||||
| CRE investor owned | 3,040,845 | 2,902,890 | 2,763,227 | 2,786,139 | 2,626,657 | ||||||||||||||||||||||||
| CRE owner occupied | 1,454,715 | 1,421,859 | 1,452,350 | 1,404,704 | 1,296,902 | ||||||||||||||||||||||||
| SBA loans* | 1,245,288 | 1,237,294 | 1,230,455 | 1,262,456 | 1,257,817 | ||||||||||||||||||||||||
| Sponsor finance* | 713,614 | 708,449 | 661,946 | 694,905 | 774,142 | ||||||||||||||||||||||||
| Life insurance premium financing* | 1,349,925 | 1,250,250 | 1,208,098 | 1,187,128 | 1,151,700 | ||||||||||||||||||||||||
| Tax credits* | 749,810 | 725,452 | 702,080 | 802,818 | 780,767 | ||||||||||||||||||||||||
| Residential real estate | 352,075 | 356,342 | 340,966 | 362,278 | 359,315 | ||||||||||||||||||||||||
| Construction and land development | 681,068 | 608,923 | 621,988 | 633,803 | 784,218 | ||||||||||||||||||||||||
| Consumer** | 50,180 | 52,875 | 56,397 | 59,635 | 230,723 | ||||||||||||||||||||||||
| Total loans | $ | 12,344,705 | $ | 11,892,399 | $ | 11,692,780 | $ | 11,800,338 | $ | 11,583,109 | |||||||||||||||||||
| Quarterly loan yield | 6.42 | % | 6.43 | % | 6.38 | % | 6.51 | % | 6.64 | % | |||||||||||||||||||
| Loans by rate type (to total loans): | |||||||||||||||||||||||||||||
| Fixed | 37 | % | 37 | % | 37 | % | 40 | % | 41 | % | |||||||||||||||||||
| Variable: | 63 | % | 63 | % | 63 | % | 60 | % | 59 | % | |||||||||||||||||||
| SOFR | 33 | % | 32 | % | 32 | % | 30 | % | 29 | % | |||||||||||||||||||
| Prime | 23 | % | 24 | % | 24 | % | 23 | % | 23 | % | |||||||||||||||||||
| Other | 7 | % | 7 | % | 7 | % | 7 | % | 7 | % | |||||||||||||||||||
| Variable rate loans to total loans, adjusted for interest rate hedges | 57 | % | 58 | % | 59 | % | 56 | % | 55 | % | |||||||||||||||||||
| *Specialty loan category | |||||||||||||||||||||||||||||
**Certain loans were reclassified from Consumer and into other categories in the fourth quarter of 2025. Prior period amounts were not adjusted. | |||||||||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Nonperforming loans* | $ | 87,270 | $ | 76,144 | $ | 64,941 | $ | 82,809 | $ | 127,878 | |||||||||||||||||||
Other1 | 95,582 | 84,259 | 84,482 | 81,544 | 7,821 | ||||||||||||||||||||||||
| Nonperforming assets* | $ | 182,852 | $ | 160,403 | $ | 149,423 | $ | 164,353 | $ | 135,699 | |||||||||||||||||||
| Nonperforming loans to total loans | 0.71 | % | 0.64 | % | 0.56 | % | 0.70 | % | 1.10 | % | |||||||||||||||||||
| Nonperforming assets to total assets | 1.03 | % | 0.92 | % | 0.87 | % | 0.95 | % | 0.83 | % | |||||||||||||||||||
| Allowance for credit losses | $ | 144,519 | $ | 139,238 | $ | 142,064 | $ | 140,022 | $ | 148,854 | |||||||||||||||||||
| Allowance for credit losses to total loans | 1.17 | % | 1.17 | % | 1.21 | % | 1.19 | % | 1.29 | % | |||||||||||||||||||
| Allowance for credit losses to nonperforming loans* | 165.6 | % | 182.9 | % | 218.8 | % | 169.1 | % | 116.4 | % | |||||||||||||||||||
Quarterly net charge-offs | $ | 11,036 | $ | 13,555 | $ | 4,407 | $ | 20,674 | $ | 4,057 | |||||||||||||||||||
| *Guaranteed balances excluded | $ | 53,650 | $ | 40,698 | $ | 28,243 | $ | 28,903 | $ | 33,475 | |||||||||||||||||||
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value. | |||||||||||||||||||||||||||||
| ($ in thousands) | Nonperforming Loans | Government Guaranteed | Nonperforming Loans, net | ACL Reserve Allocation | |||||||||||||||||||
| C&I | $ | 34,193 | $ | (1,155) | $ | 33,038 | $ | (14,977) | |||||||||||||||
| CRE investor owned | 32,762 | (7,189) | 25,573 | (22) | |||||||||||||||||||
| CRE owner occupied | 69,004 | (43,300) | 25,704 | (1,482) | |||||||||||||||||||
| SBA (included in CRE owner occupied) | 55,318 | (43,300) | 12,018 | (658) | |||||||||||||||||||
| Other | 4,961 | (2,006) | 2,955 | (267) | |||||||||||||||||||
| Total | $ | 140,920 | $ | (53,650) | $ | 87,270 | $ | (16,748) | |||||||||||||||
Other1 | 95,582 | ||||||||||||||||||||||
| Nonperforming assets | $ | 182,852 | |||||||||||||||||||||
1OREO and repossessed assets transferred at fair value, and carried at the lesser of cost or market value. | |||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | March 31, 2026 | December 31, 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Noninterest-bearing demand accounts | $ | 5,043,875 | $ | 4,910,235 | $ | 4,828,375 | $ | 4,874,115 | $ | 4,386,513 | |||||||||||||||||||
| Interest-bearing demand accounts | 3,723,393 | 3,406,505 | 3,395,680 | 3,537,334 | 3,301,621 | ||||||||||||||||||||||||
| Money market and savings accounts | 4,664,512 | 4,482,011 | 4,610,662 | 4,528,510 | 4,228,605 | ||||||||||||||||||||||||
| Brokered certificates of deposit | 735,993 | 736,377 | 724,788 | 721,977 | 762,499 | ||||||||||||||||||||||||
| Other certificates of deposit | 959,191 | 967,423 | 964,892 | 947,406 | 888,674 | ||||||||||||||||||||||||
| Total deposit portfolio | $ | 15,126,964 | $ | 14,502,551 | $ | 14,524,397 | $ | 14,609,342 | $ | 13,567,912 | |||||||||||||||||||
| Noninterest-bearing deposits to total deposits | 33.3 | % | 33.9 | % | 33.2 | % | 33.4 | % | 32.3 | % | |||||||||||||||||||
| Quarterly cost of deposits | 1.54 | % | 1.53 | % | 1.52 | % | 1.64 | % | 1.80 | % | |||||||||||||||||||
| Linked quarter comparison | Prior year comparison | ||||||||||||||||||||||||||||||||||||||||
| Quarter ended | Quarter ended | ||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | Increase (decrease) | September 30, 2025 | Increase (decrease) | ||||||||||||||||||||||||||||||||||||
| Deposit service charges | $ | 5,407 | $ | 5,477 | $ | (70) | (1) | % | $ | 4,935 | $ | 472 | 10 | % | |||||||||||||||||||||||||||
| Wealth management revenue | 2,864 | 2,804 | 60 | 2 | % | 2,571 | 293 | 11 | % | ||||||||||||||||||||||||||||||||
| Card services revenue | 2,621 | 2,545 | 76 | 3 | % | 2,535 | 86 | 3 | % | ||||||||||||||||||||||||||||||||
Tax credit loss | (5,030) | (1,733) | (3,297) | (190) | % | (300) | (4,730) | (1,577) | % | ||||||||||||||||||||||||||||||||
| Other income | 7,352 | 4,385 | 2,967 | 68 | % | 38,883 | (31,531) | (81) | % | ||||||||||||||||||||||||||||||||
| Total noninterest income | $ | 13,214 | $ | 13,478 | $ | (264) | (2) | % | $ | 48,624 | $ | (35,410) | (73) | % | |||||||||||||||||||||||||||
| Linked quarter comparison | Prior year comparison | ||||||||||||||||||||||||||||||||||||||||
| Quarter ended | Quarter ended | ||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | Increase (decrease) | September 30, 2025 | Increase (decrease) | ||||||||||||||||||||||||||||||||||||
| BOLI | $ | 1,803 | $ | 2,427 | $ | (624) | (26) | % | $ | 2,062 | $ | (259) | (13) | % | |||||||||||||||||||||||||||
| Community development investments | 495 | 404 | 91 | 23 | % | 309 | 186 | 60 | % | ||||||||||||||||||||||||||||||||
| Gain on SBA loan sales | — | — | — | — | % | 1,140 | (1,140) | (100) | % | ||||||||||||||||||||||||||||||||
| Gain on sales of fixed assets | — | 687 | (687) | (100) | % | — | — | — | % | ||||||||||||||||||||||||||||||||
Net gain (loss) on OREO | (1,402) | (302) | (1,100) | 364 | % | 7 | (1,409) | (20,129) | % | ||||||||||||||||||||||||||||||||
| Net loss on sales of investment securities | — | (2,146) | 2,146 | (100) | % | — | — | — | % | ||||||||||||||||||||||||||||||||
| Private equity fund distributions | 149 | 283 | (134) | (47) | % | 626 | (477) | (76) | % | ||||||||||||||||||||||||||||||||
| Servicing fees | 679 | 540 | 139 | 26 | % | 587 | 92 | 16 | % | ||||||||||||||||||||||||||||||||
| Swap fees | 9 | 131 | (122) | (93) | % | 341 | (332) | (97) | % | ||||||||||||||||||||||||||||||||
| Anticipated insurance recoveries | — | — | — | — | % | 32,112 | (32,112) | (100) | % | ||||||||||||||||||||||||||||||||
| Miscellaneous income | 5,619 | 2,361 | 3,258 | 138 | % | 1,699 | 3,920 | 231 | % | ||||||||||||||||||||||||||||||||
| Total other income | $ | 7,352 | $ | 4,385 | $ | 2,967 | 68 | % | $ | 38,883 | $ | (31,531) | (81) | % | |||||||||||||||||||||||||||
| Linked quarter comparison | Prior year comparison | |||||||||||||||||||||||||||||||||||||||||||
| Quarter ended | Quarter ended | |||||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026 | June 30, 2026 | Increase (decrease) | September 30, 2025 | Increase (decrease) | |||||||||||||||||||||||||||||||||||||||
| Employee compensation and benefits | $ | 50,581 | $ | 53,114 | $ | (2,533) | (5) | % | $ | 49,640 | $ | 941 | 2 | % | ||||||||||||||||||||||||||||||
| Deposit costs | 27,482 | 27,832 | (350) | (1) | % | 27,172 | 310 | 1 | % | |||||||||||||||||||||||||||||||||||
| Occupancy | 5,893 | 5,909 | (16) | — | % | 4,895 | 998 | 20 | % | |||||||||||||||||||||||||||||||||||
| Acquisition costs | — | — | — | — | % | 609 | (609) | (100) | % | |||||||||||||||||||||||||||||||||||
| Other expense | 30,698 | 28,884 | 1,814 | 6 | % | 27,474 | 3,224 | 12 | % | |||||||||||||||||||||||||||||||||||
| Total noninterest expense | $ | 114,654 | $ | 115,739 | $ | (1,085) | (1) | % | $ | 109,790 | $ | 4,864 | 4 | % | ||||||||||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | September 30, 2026* | June 30, 2026 | March 31, 2026 | December 31 2025 | September 30, 2025 | ||||||||||||||||||||||||
| Stockholders’ equity | $ | 1,917,326 | $ | 2,040,846 | $ | 2,022,204 | $ | 2,039,386 | $ | 1,982,332 | |||||||||||||||||||
| Total risk-based capital to risk-weighted assets | 14.4 | % | 15.0 | % | 13.9 | % | 13.9 | % | 14.4 | % | |||||||||||||||||||
| Tier 1 capital to risk weighted assets | 12.2 | % | 12.7 | % | 12.9 | % | 12.8 | % | 13.3 | % | |||||||||||||||||||
| Common equity tier 1 capital to risk-weighted assets | 11.1 | % | 11.5 | % | 11.7 | % | 11.6 | % | 12.0 | % | |||||||||||||||||||
| Leverage ratio | 10.2 | % | 10.4 | % | 10.4 | % | 10.5 | % | 11.1 | % | |||||||||||||||||||
Tangible common equity to tangible assets5 | 8.13 | % | 9.04 | % | 9.01 | % | 9.07 | % | 9.60 | % | |||||||||||||||||||
| Quarter ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||
| (in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| EARNINGS SUMMARY | |||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 174,606 | $ | 168,716 | $ | 166,147 | $ | 168,174 | $ | 158,286 | $ | 509,469 | $ | 458,564 | |||||||||||||||||||||||||||
| Provision for credit losses | 18,107 | 14,210 | 7,243 | 9,236 | 8,447 | 39,560 | 17,101 | ||||||||||||||||||||||||||||||||||
| Noninterest income | 13,214 | 13,478 | 19,088 | 25,412 | 48,624 | 45,780 | 87,711 | ||||||||||||||||||||||||||||||||||
| Noninterest expense | 114,654 | 115,739 | 115,137 | 114,532 | 109,790 | 345,530 | 315,275 | ||||||||||||||||||||||||||||||||||
| Income before income tax expense | 55,059 | 52,245 | 62,855 | 69,818 | 88,673 | 170,159 | 213,899 | ||||||||||||||||||||||||||||||||||
| Income tax expense | 12,615 | 11,318 | 13,493 | 15,024 | 43,438 | 37,426 | 67,319 | ||||||||||||||||||||||||||||||||||
| Net income | 42,444 | 40,927 | 49,362 | 54,794 | 45,235 | 132,733 | 146,580 | ||||||||||||||||||||||||||||||||||
| Preferred stock dividends | 938 | 937 | 938 | 937 | 938 | 2,813 | 2,813 | ||||||||||||||||||||||||||||||||||
| Net income available to common stockholders | $ | 41,506 | $ | 39,990 | $ | 48,424 | $ | 53,857 | $ | 44,297 | $ | 129,920 | $ | 143,767 | |||||||||||||||||||||||||||
| Diluted earnings per common share | $ | 1.14 | $ | 1.09 | $ | 1.30 | $ | 1.45 | $ | 1.19 | $ | 3.54 | $ | 3.86 | |||||||||||||||||||||||||||
Adjusted diluted earnings per common share1 | 1.17 | 1.13 | 1.31 | 1.36 | 1.20 | 3.61 | 3.88 | ||||||||||||||||||||||||||||||||||
| Return on average assets | 0.95 | % | 0.95 | % | 1.16 | % | 1.27 | % | 1.11 | % | 1.02 | % | 1.23 | % | |||||||||||||||||||||||||||
Adjusted return on average assets1 | 0.98 | % | 0.98 | % | 1.16 | % | 1.19 | % | 1.12 | % | 1.04 | % | 1.24 | % | |||||||||||||||||||||||||||
Return on average common equity1 | 8.37 | % | 8.10 | % | 9.80 | % | 10.95 | % | 9.29 | % | 8.75 | % | 10.45 | % | |||||||||||||||||||||||||||
Adjusted return on average common equity1 | 8.58 | % | 8.37 | % | 9.84 | % | 10.28 | % | 9.40 | % | 8.93 | % | 10.51 | % | |||||||||||||||||||||||||||
ROATCE1 | 10.74 | % | 10.39 | % | 12.53 | % | 14.02 | % | 11.56 | % | 11.22 | % | 13.10 | % | |||||||||||||||||||||||||||
Adjusted ROATCE1 | 11.01 | % | 10.73 | % | 12.59 | % | 13.15 | % | 11.70 | % | 11.44 | % | 13.18 | % | |||||||||||||||||||||||||||
| Net interest margin (tax-equivalent) | 4.30 | % | 4.30 | % | 4.28 | % | 4.26 | % | 4.23 | % | 4.29 | % | 4.20 | % | |||||||||||||||||||||||||||
| Efficiency ratio | 61.0 | % | 63.5 | % | 62.2 | % | 59.2 | % | 53.1 | % | 62.2 | % | 57.7 | % | |||||||||||||||||||||||||||
Core efficiency ratio1 | 58.9 | % | 61.1 | % | 60.2 | % | 58.3 | % | 61.0 | % | 60.1 | % | 59.7 | % | |||||||||||||||||||||||||||
| Assets | $ | 17,792,510 | $ | 17,399,009 | $ | 17,227,828 | $ | 17,300,884 | $ | 16,402,405 | |||||||||||||||||||||||||||||||
| Average assets | $ | 17,696,079 | $ | 17,307,716 | $ | 17,311,103 | $ | 17,099,429 | $ | 16,178,088 | $ | 17,439,709 | $ | 15,895,563 | |||||||||||||||||||||||||||
| Period end common shares outstanding | 35,775 | 36,258 | 36,581 | 36,965 | 37,011 | ||||||||||||||||||||||||||||||||||||
| Dividends per common share | $ | 0.35 | $ | 0.34 | $ | 0.33 | $ | 0.32 | $ | 0.31 | $ | 1.02 | $ | 0.90 | |||||||||||||||||||||||||||
Tangible book value per common share1 | $ | 39.45 | $ | 42.30 | $ | 41.38 | $ | 41.37 | $ | 41.58 | |||||||||||||||||||||||||||||||
Tangible common equity to tangible assets1 | 8.13 | % | 9.04 | % | 9.01 | % | 9.07 | % | 9.60 | % | |||||||||||||||||||||||||||||||
Total risk-based capital to risk-weighted assets2 | 14.4 | % | 15.0 | % | 13.9 | % | 13.9 | % | 14.4 | % | |||||||||||||||||||||||||||||||
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP. | |||||||||||||||||||||||||||||||||||||||||
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review. | |||||||||||||||||||||||||||||||||||||||||
| Quarter ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||
| (in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| INCOME STATEMENTS | |||||||||||||||||||||||||||||||||||||||||
| NET INTEREST INCOME | |||||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 238,234 | $ | 229,313 | $ | 225,091 | $ | 232,273 | $ | 225,390 | $ | 692,638 | $ | 656,137 | |||||||||||||||||||||||||||
| Interest expense | 63,628 | 60,597 | 58,944 | 64,099 | 67,104 | 183,169 | 197,573 | ||||||||||||||||||||||||||||||||||
| Net interest income | 174,606 | 168,716 | 166,147 | 168,174 | 158,286 | 509,469 | 458,564 | ||||||||||||||||||||||||||||||||||
| Provision for credit losses | 18,107 | 14,210 | 7,243 | 9,236 | 8,447 | 39,560 | 17,101 | ||||||||||||||||||||||||||||||||||
| Net interest income after provision for credit losses | 156,499 | 154,506 | 158,904 | 158,938 | 149,839 | 469,909 | 441,463 | ||||||||||||||||||||||||||||||||||
| NONINTEREST INCOME | |||||||||||||||||||||||||||||||||||||||||
| Deposit service charges | 5,407 | 5,477 | 5,256 | 5,081 | 4,935 | 16,140 | 14,295 | ||||||||||||||||||||||||||||||||||
| Wealth management revenue | 2,864 | 2,804 | 2,712 | 2,642 | 2,571 | 8,380 | 7,814 | ||||||||||||||||||||||||||||||||||
| Card services revenue | 2,621 | 2,545 | 2,535 | 2,621 | 2,535 | 7,701 | 7,374 | ||||||||||||||||||||||||||||||||||
Tax credit income (loss) | (5,030) | (1,733) | (179) | 3,180 | (300) | (6,942) | 4,517 | ||||||||||||||||||||||||||||||||||
Insurance recoveries1 | — | — | — | — | 32,112 | — | 32,112 | ||||||||||||||||||||||||||||||||||
| Other income | 7,352 | 4,385 | 8,764 | 11,888 | 6,771 | 20,501 | 21,599 | ||||||||||||||||||||||||||||||||||
| Total noninterest income | 13,214 | 13,478 | 19,088 | 25,412 | 48,624 | 45,780 | 87,711 | ||||||||||||||||||||||||||||||||||
| NONINTEREST EXPENSE | |||||||||||||||||||||||||||||||||||||||||
| Employee compensation and benefits | 50,581 | 53,114 | 55,759 | 50,149 | 49,640 | 159,454 | 148,012 | ||||||||||||||||||||||||||||||||||
| Deposit costs | 27,482 | 27,832 | 25,996 | 27,471 | 27,172 | 81,310 | 75,760 | ||||||||||||||||||||||||||||||||||
| Occupancy | 5,893 | 5,909 | 5,902 | 5,764 | 4,895 | 17,704 | 14,390 | ||||||||||||||||||||||||||||||||||
| FDIC special assessment | — | — | — | (652) | — | — | — | ||||||||||||||||||||||||||||||||||
| Acquisition costs | — | — | — | 2,548 | 609 | — | 1,127 | ||||||||||||||||||||||||||||||||||
| Other expense | 30,698 | 28,884 | 27,480 | 29,252 | 27,474 | 87,062 | 75,986 | ||||||||||||||||||||||||||||||||||
| Total noninterest expense | 114,654 | 115,739 | 115,137 | 114,532 | 109,790 | 345,530 | 315,275 | ||||||||||||||||||||||||||||||||||
| Income before income tax expense | 55,059 | 52,245 | 62,855 | 69,818 | 88,673 | 170,159 | 213,899 | ||||||||||||||||||||||||||||||||||
| Income tax expense | 12,615 | 11,318 | 13,493 | 15,024 | 11,326 | 37,426 | 35,207 | ||||||||||||||||||||||||||||||||||
Tax credit recapture and provision for anticipated tax applied to related insurance recoveries2 | — | — | — | — | 32,112 | — | 32,112 | ||||||||||||||||||||||||||||||||||
| Total income tax expense | 12,615 | 11,318 | 13,493 | 15,024 | 43,438 | 37,426 | 67,319 | ||||||||||||||||||||||||||||||||||
| Net income | $ | 42,444 | $ | 40,927 | $ | 49,362 | $ | 54,794 | $ | 45,235 | $ | 132,733 | $ | 146,580 | |||||||||||||||||||||||||||
| Preferred stock dividends | 938 | 937 | 938 | 937 | 938 | 2,813 | 2,813 | ||||||||||||||||||||||||||||||||||
| Net income available to common stockholders | $ | 41,506 | $ | 39,990 | $ | 48,424 | $ | 53,857 | $ | 44,297 | $ | 129,920 | $ | 143,767 | |||||||||||||||||||||||||||
| Basic earnings per common share | $ | 1.15 | $ | 1.10 | $ | 1.31 | $ | 1.46 | $ | 1.20 | $ | 3.56 | $ | 3.89 | |||||||||||||||||||||||||||
| Diluted earnings per common share | $ | 1.14 | $ | 1.09 | $ | 1.30 | $ | 1.45 | $ | 1.19 | $ | 3.54 | $ | 3.86 | |||||||||||||||||||||||||||
1 Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event. | |||||||||||||||||||||||||||||||||||||||||
2 Represents recapture of $24.1 million solar tax credit and approximately $8.0 million of estimated tax liability related to anticipated proceeds from pending insurance claim related to a third quarter 2025 recapture event. | |||||||||||||||||||||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| BALANCE SHEET | |||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | 213,259 | $ | 273,875 | $ | 258,542 | $ | 208,080 | $ | 208,455 | |||||||||||||||||||
| Interest-earning deposits | 275,281 | 278,852 | 376,824 | 474,720 | 264,399 | ||||||||||||||||||||||||
| Debt and equity investments | 3,881,344 | 3,960,834 | 3,911,106 | 3,810,876 | 3,527,467 | ||||||||||||||||||||||||
| Loans held for sale | 202 | 1,145 | 418 | 928 | 681 | ||||||||||||||||||||||||
| Loans | 12,344,705 | 11,892,399 | 11,692,780 | 11,800,338 | 11,583,109 | ||||||||||||||||||||||||
| Allowance for credit losses | (144,519) | (139,238) | (142,064) | (140,022) | (148,854) | ||||||||||||||||||||||||
| Total loans, net | 12,200,186 | 11,753,161 | 11,550,716 | 11,660,316 | 11,434,255 | ||||||||||||||||||||||||
| Fixed assets, net | 56,819 | 57,318 | 57,956 | 58,993 | 49,248 | ||||||||||||||||||||||||
| Goodwill | 416,968 | 416,968 | 416,968 | 416,968 | 365,164 | ||||||||||||||||||||||||
| Intangible assets, net | 16,948 | 18,228 | 19,525 | 21,175 | 6,140 | ||||||||||||||||||||||||
| Other assets | 731,503 | 638,628 | 635,773 | 648,828 | 546,596 | ||||||||||||||||||||||||
| Total assets | $ | 17,792,510 | $ | 17,399,009 | $ | 17,227,828 | $ | 17,300,884 | $ | 16,402,405 | |||||||||||||||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||||||
| Noninterest-bearing deposits | $ | 5,043,875 | $ | 4,910,235 | $ | 4,828,375 | $ | 4,874,115 | $ | 4,386,513 | |||||||||||||||||||
| Interest-bearing deposits | 10,083,089 | 9,592,316 | 9,696,022 | 9,735,227 | 9,181,399 | ||||||||||||||||||||||||
| Total deposits | 15,126,964 | 14,502,551 | 14,524,397 | 14,609,342 | 13,567,912 | ||||||||||||||||||||||||
| Subordinated debentures and notes | 258,409 | 265,910 | 93,759 | 93,688 | 93,617 | ||||||||||||||||||||||||
| FHLB advances | 64,000 | 208,000 | — | — | 327,000 | ||||||||||||||||||||||||
| Other borrowings | 179,532 | 208,166 | 319,345 | 387,717 | 247,006 | ||||||||||||||||||||||||
| Other liabilities | 246,279 | 173,536 | 268,123 | 170,751 | 184,538 | ||||||||||||||||||||||||
| Total liabilities | 15,875,184 | 15,358,163 | 15,205,624 | 15,261,498 | 14,420,073 | ||||||||||||||||||||||||
| Stockholders’ equity: | |||||||||||||||||||||||||||||
| Preferred stock | 71,988 | 71,988 | 71,988 | 71,988 | 71,988 | ||||||||||||||||||||||||
| Common stock | 358 | 363 | 366 | 370 | 370 | ||||||||||||||||||||||||
| Additional paid-in capital | 976,905 | 986,133 | 990,394 | 1,000,775 | 997,446 | ||||||||||||||||||||||||
| Retained earnings | 1,064,907 | 1,056,072 | 1,041,038 | 1,020,840 | 980,548 | ||||||||||||||||||||||||
| Accumulated other comprehensive loss | (196,832) | (73,710) | (81,582) | (54,587) | (68,020) | ||||||||||||||||||||||||
| Total stockholders’ equity | 1,917,326 | 2,040,846 | 2,022,204 | 2,039,386 | 1,982,332 | ||||||||||||||||||||||||
| Total liabilities and stockholders’ equity | $ | 17,792,510 | $ | 17,399,009 | $ | 17,227,828 | $ | 17,300,884 | $ | 16,402,405 | |||||||||||||||||||
| Nine months ended | |||||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | Average Balance | Interest Income/ Expense | Average Yield/ Rate | Average Balance | Interest Income/ Expense | Average Yield/ Rate | |||||||||||||||||||||||||||||||||||
| AVERAGE BALANCE SHEET | |||||||||||||||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||||||||
Loans1, 2 | $ | 11,874,692 | $ | 569,508 | 6.41 | % | $ | 11,351,848 | $ | 561,635 | 6.61 | % | |||||||||||||||||||||||||||||
| Taxable securities | 2,537,213 | 83,384 | 4.39 | 1,964,496 | 59,270 | 4.03 | |||||||||||||||||||||||||||||||||||
Nontaxable securities2 | 1,296,933 | 37,217 | 3.84 | 1,181,460 | 31,360 | 3.55 | |||||||||||||||||||||||||||||||||||
| Total securities | 3,834,146 | 120,601 | 4.21 | 3,145,956 | 90,630 | 3.85 | |||||||||||||||||||||||||||||||||||
| Interest-earning deposits | 466,757 | 12,573 | 3.60 | 373,870 | 12,130 | 4.34 | |||||||||||||||||||||||||||||||||||
| Total interest-earning assets | 16,175,595 | 702,682 | 5.81 | 14,871,674 | 664,395 | 5.97 | |||||||||||||||||||||||||||||||||||
| Noninterest-earning assets | 1,264,114 | 1,023,889 | |||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 17,439,709 | $ | 15,895,563 | |||||||||||||||||||||||||||||||||||||
| Liabilities and Stockholders’ Equity | |||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||
| Interest-bearing demand accounts | $ | 3,511,893 | $ | 46,966 | 1.79 | % | $ | 3,230,832 | $ | 51,697 | 2.14 | % | |||||||||||||||||||||||||||||
| Money market accounts | 4,003,666 | 77,302 | 2.58 | 3,656,546 | 85,675 | 3.13 | |||||||||||||||||||||||||||||||||||
| Savings accounts | 540,544 | 486 | 0.12 | 533,084 | 555 | 0.14 | |||||||||||||||||||||||||||||||||||
| Certificates of deposit | 1,687,456 | 43,676 | 3.46 | 1,491,047 | 42,933 | 3.85 | |||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 9,743,559 | 168,430 | 2.31 | 8,911,509 | 180,860 | 2.71 | |||||||||||||||||||||||||||||||||||
| Subordinated debentures and notes | 159,552 | 7,991 | 6.70 | 150,015 | 7,982 | 7.11 | |||||||||||||||||||||||||||||||||||
| FHLB advances | 37,810 | 1,117 | 3.95 | 96,396 | 3,295 | 4.57 | |||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 212,777 | 3,690 | 2.32 | 211,429 | 4,764 | 3.01 | |||||||||||||||||||||||||||||||||||
| Other borrowings | 71,712 | 1,941 | 3.62 | 42,932 | 672 | 2.09 | |||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 10,225,410 | 183,169 | 2.39 | 9,412,281 | 197,573 | 2.81 | |||||||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||
| Demand deposits | 4,993,391 | 4,420,552 | |||||||||||||||||||||||||||||||||||||||
| Other liabilities | 164,714 | 151,199 | |||||||||||||||||||||||||||||||||||||||
| Total liabilities | 15,383,515 | 13,984,032 | |||||||||||||||||||||||||||||||||||||||
| Stockholders' equity | 2,056,194 | 1,911,531 | |||||||||||||||||||||||||||||||||||||||
| Total liabilities and stockholders' equity | $ | 17,439,709 | $ | 15,895,563 | |||||||||||||||||||||||||||||||||||||
| Total net interest income | $ | 519,513 | $ | 466,822 | |||||||||||||||||||||||||||||||||||||
| Net interest margin | 4.29 | % | 4.20 | % | |||||||||||||||||||||||||||||||||||||
1 Average balances include nonaccrual loans. Interest income includes net loan fees of $4.9 million and $5.3 million for the nine months ended September 30, 2026 and September 30, 2025, respectively. | |||||||||||||||||||||||||||||||||||||||||
2 Non-taxable income is presented on a fully tax-equivalent basis using a tax rate of approximately 25%. The tax-equivalent adjustments were $10.0 million and $8.3 million for the nine months ended September 30, 2026 and September 30, 2025, respectively. | |||||||||||||||||||||||||||||||||||||||||
| At or for the quarter ended | |||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| LOAN PORTFOLIO | |||||||||||||||||||||||||||||
| Commercial and industrial | $ | 5,467,434 | $ | 5,257,840 | $ | 5,168,533 | $ | 5,231,616 | $ | 4,943,561 | |||||||||||||||||||
| Commercial real estate | 5,725,119 | 5,556,856 | 5,453,966 | 5,453,821 | 5,178,649 | ||||||||||||||||||||||||
| Construction real estate | 744,787 | 663,480 | 667,703 | 687,584 | 858,146 | ||||||||||||||||||||||||
| Residential real estate | 357,184 | 361,346 | 346,181 | 367,682 | 365,010 | ||||||||||||||||||||||||
| Consumer | 50,181 | 52,877 | 56,397 | 59,635 | 237,743 | ||||||||||||||||||||||||
| Total loans | $ | 12,344,705 | $ | 11,892,399 | $ | 11,692,780 | $ | 11,800,338 | $ | 11,583,109 | |||||||||||||||||||
| DEPOSIT PORTFOLIO | |||||||||||||||||||||||||||||
| Noninterest-bearing demand accounts | $ | 5,043,875 | $ | 4,910,235 | $ | 4,828,375 | $ | 4,874,115 | $ | 4,386,513 | |||||||||||||||||||
| Interest-bearing demand accounts | 3,723,393 | 3,406,505 | 3,395,680 | 3,537,334 | 3,301,621 | ||||||||||||||||||||||||
| Money market and savings accounts | 4,664,512 | 4,482,011 | 4,610,662 | 4,528,510 | 4,228,605 | ||||||||||||||||||||||||
| Brokered certificates of deposit | 735,993 | 736,377 | 724,788 | 721,977 | 762,499 | ||||||||||||||||||||||||
| Other certificates of deposit | 959,191 | 967,423 | 964,892 | 947,406 | 888,674 | ||||||||||||||||||||||||
| Total deposits | $ | 15,126,964 | $ | 14,502,551 | $ | 14,524,397 | $ | 14,609,342 | $ | 13,567,912 | |||||||||||||||||||
| AVERAGE BALANCES | |||||||||||||||||||||||||||||
| Loans | $ | 12,067,288 | $ | 11,775,879 | $ | 11,777,727 | $ | 11,794,459 | $ | 11,454,183 | |||||||||||||||||||
| Securities | 3,884,483 | 3,833,994 | 3,782,844 | 3,623,965 | 3,353,305 | ||||||||||||||||||||||||
| Interest-earning assets | 16,416,890 | 16,040,917 | 16,065,112 | 15,971,267 | 15,135,880 | ||||||||||||||||||||||||
| Assets | 17,696,079 | 17,307,716 | 17,311,103 | 17,099,429 | 16,178,088 | ||||||||||||||||||||||||
| Deposits | 14,988,080 | 14,608,514 | 14,609,433 | 14,537,381 | 13,604,302 | ||||||||||||||||||||||||
| Stockholders’ equity | 2,040,244 | 2,052,233 | 2,076,504 | 2,022,472 | 1,964,126 | ||||||||||||||||||||||||
Tangible common equity1 | 1,533,720 | 1,544,417 | 1,567,129 | 1,524,453 | 1,520,476 | ||||||||||||||||||||||||
| YIELDS (tax-equivalent) | |||||||||||||||||||||||||||||
| Loans | 6.42 | % | 6.43 | % | 6.38 | % | 6.51 | % | 6.64 | % | |||||||||||||||||||
| Securities | 4.28 | 4.21 | 4.13 | 4.02 | 3.93 | ||||||||||||||||||||||||
| Interest-earning assets | 5.84 | 5.82 | 5.77 | 5.86 | 5.99 | ||||||||||||||||||||||||
| Interest-bearing deposits | 2.32 | 2.30 | 2.31 | 2.46 | 2.67 | ||||||||||||||||||||||||
| Deposits | 1.54 | 1.53 | 1.52 | 1.64 | 1.80 | ||||||||||||||||||||||||
| Subordinated debentures and notes | 6.65 | 6.87 | 6.59 | 6.61 | 7.78 | ||||||||||||||||||||||||
| FHLB advances and other borrowed funds | 2.13 | 3.08 | 2.92 | 3.27 | 3.47 | ||||||||||||||||||||||||
| Interest-bearing liabilities | 2.42 | 2.39 | 2.37 | 2.52 | 2.77 | ||||||||||||||||||||||||
| Net interest margin | 4.30 | 4.30 | 4.28 | 4.26 | 4.23 | ||||||||||||||||||||||||
| Quarter ended | |||||||||||||||||||||||||||||
| (in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| ASSET QUALITY | |||||||||||||||||||||||||||||
Net charge-offs | $ | 11,036 | $ | 13,555 | $ | 4,407 | $ | 20,674 | $ | 4,057 | |||||||||||||||||||
| Nonperforming loans | 87,270 | 76,144 | 64,941 | 82,809 | 127,878 | ||||||||||||||||||||||||
| Classified assets | 416,025 | 413,779 | 430,288 | 410,485 | 352,792 | ||||||||||||||||||||||||
| Nonperforming loans to total loans | 0.71 | % | 0.64 | % | 0.56 | % | 0.70 | % | 1.10 | % | |||||||||||||||||||
| Nonperforming assets to total assets | 1.03 | % | 0.92 | % | 0.87 | % | 0.95 | % | 0.83 | % | |||||||||||||||||||
| Allowance for credit losses to total loans | 1.17 | % | 1.17 | % | 1.21 | % | 1.19 | % | 1.29 | % | |||||||||||||||||||
Allowance for credit losses to total loans, excluding guaranteed loans1 | 1.27 | % | 1.27 | % | 1.32 | % | 1.29 | % | 1.40 | % | |||||||||||||||||||
| Allowance for credit losses to nonperforming loans | 165.6 | % | 182.9 | % | 218.8 | % | 169.1 | % | 116.4 | % | |||||||||||||||||||
Net charge-offs to average loans - annualized | 0.36 | % | 0.46 | % | 0.15 | % | 0.70 | % | 0.14 | % | |||||||||||||||||||
| WEALTH MANAGEMENT | |||||||||||||||||||||||||||||
| Trust assets under management | $ | 3,128,732 | $ | 3,060,836 | $ | 2,882,919 | $ | 2,750,803 | $ | 2,566,784 | |||||||||||||||||||
| SHARE DATA | |||||||||||||||||||||||||||||
| Book value per common share | $ | 51.58 | $ | 54.30 | $ | 53.31 | $ | 53.22 | $ | 51.62 | |||||||||||||||||||
Tangible book value per common share1 | $ | 39.45 | $ | 42.30 | $ | 41.38 | $ | 41.37 | $ | 41.58 | |||||||||||||||||||
| Market value per share | $ | 58.95 | $ | 65.88 | $ | 54.11 | $ | 54.00 | $ | 57.98 | |||||||||||||||||||
| Period end common shares outstanding | 35,775 | 36,258 | 36,581 | 36,965 | 37,011 | ||||||||||||||||||||||||
| Average basic common shares | 36,055 | 36,438 | 36,907 | 36,997 | 37,015 | ||||||||||||||||||||||||
| Average diluted common shares | 36,359 | 36,697 | 37,152 | 37,265 | 37,333 | ||||||||||||||||||||||||
| CAPITAL | |||||||||||||||||||||||||||||
Total risk-based capital to risk-weighted assets2 | 14.4 | % | 15.0 | % | 13.9 | % | 13.9 | % | 14.4 | % | |||||||||||||||||||
Tier 1 capital to risk-weighted assets2 | 12.2 | % | 12.7 | % | 12.9 | % | 12.8 | % | 13.3 | % | |||||||||||||||||||
Common equity tier 1 capital to risk-weighted assets2 | 11.1 | % | 11.5 | % | 11.7 | % | 11.6 | % | 12.0 | % | |||||||||||||||||||
Tangible common equity to tangible assets1 | 8.13 | % | 9.04 | % | 9.01 | % | 9.07 | % | 9.60 | % | |||||||||||||||||||
1 Refer to Reconciliations of Non-GAAP Financial Measures tables for a reconciliation of these measures to GAAP. | |||||||||||||||||||||||||||||
2 Capital ratios for the current quarter are preliminary and subject to, among other things, completion and filing of the Company’s regulatory reports and ongoing regulatory review. | |||||||||||||||||||||||||||||
| Quarter ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| CORE EFFICIENCY RATIO | |||||||||||||||||||||||||||||||||||||||||
| Net interest income (GAAP) | $ | 174,606 | $ | 168,716 | $ | 166,147 | $ | 168,174 | $ | 158,286 | $ | 509,469 | $ | 458,564 | |||||||||||||||||||||||||||
| Tax-equivalent adjustment | 3,306 | 3,418 | 3,320 | 3,477 | 3,045 | 10,044 | 8,258 | ||||||||||||||||||||||||||||||||||
| Noninterest income (GAAP) | 13,214 | 13,478 | 19,088 | 25,412 | 48,624 | 45,780 | 87,711 | ||||||||||||||||||||||||||||||||||
Less insurance recoveries1 | — | — | — | — | 32,112 | — | 32,112 | ||||||||||||||||||||||||||||||||||
| Less gain on sales of fixed assets | — | 687 | — | — | — | 687 | — | ||||||||||||||||||||||||||||||||||
Less net gain (loss) on sales of investment securities | — | (2,146) | — | (57) | — | (2,146) | 106 | ||||||||||||||||||||||||||||||||||
Less net gain (loss) on OREO | (1,402) | (302) | (295) | 6,169 | 7 | (1,999) | 86 | ||||||||||||||||||||||||||||||||||
| Core revenue (non-GAAP) | $ | 192,528 | $ | 187,373 | $ | 188,850 | $ | 190,951 | $ | 177,836 | $ | 568,751 | $ | 522,229 | |||||||||||||||||||||||||||
| Noninterest expense (GAAP) | $ | 114,654 | $ | 115,739 | $ | 115,137 | $ | 114,532 | $ | 109,790 | $ | 345,530 | $ | 315,275 | |||||||||||||||||||||||||||
| Less FDIC special assessment | — | — | — | (652) | — | — | — | ||||||||||||||||||||||||||||||||||
| Less amortization on intangibles | 1,279 | 1,297 | 1,400 | 1,380 | 736 | 3,976 | 2,344 | ||||||||||||||||||||||||||||||||||
| Less acquisition costs | — | — | — | 2,548 | 609 | — | 1,127 | ||||||||||||||||||||||||||||||||||
| Core noninterest expense (non-GAAP) | $ | 113,375 | $ | 114,442 | $ | 113,737 | $ | 111,256 | $ | 108,445 | $ | 341,554 | $ | 311,804 | |||||||||||||||||||||||||||
| Core efficiency ratio (non-GAAP) | 58.9 | % | 61.1 | % | 60.2 | % | 58.3 | % | 61.0 | % | 60.1 | % | 59.7 | % | |||||||||||||||||||||||||||
1Represents anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event. | |||||||||||||||||||||||||||||||||||||||||
| Quarter ended | |||||||||||||||||||||||||||||
| (in thousands, except per share data) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| TANGIBLE COMMON EQUITY, TANGIBLE BOOK VALUE PER COMMON SHARE AND TANGIBLE COMMON EQUITY RATIO | |||||||||||||||||||||||||||||
| Stockholders’ equity (GAAP) | $ | 1,917,326 | $ | 2,040,846 | $ | 2,022,204 | $ | 2,039,386 | $ | 1,982,332 | |||||||||||||||||||
| Less preferred stock | 71,988 | 71,988 | 71,988 | 71,988 | 71,988 | ||||||||||||||||||||||||
| Less goodwill | 416,968 | 416,968 | 416,968 | 416,968 | 365,164 | ||||||||||||||||||||||||
| Less intangible assets | 16,948 | 18,228 | 19,525 | 21,175 | 6,140 | ||||||||||||||||||||||||
| Tangible common equity (non-GAAP) | $ | 1,411,422 | $ | 1,533,662 | $ | 1,513,723 | $ | 1,529,255 | $ | 1,539,040 | |||||||||||||||||||
| Less net unrealized losses on HTM securities, after tax | 87,082 | 28,584 | 39,080 | 26,431 | 37,341 | ||||||||||||||||||||||||
| Tangible common equity adjusted for unrealized losses on HTM securities (non-GAAP) | $ | 1,324,340 | $ | 1,505,078 | $ | 1,474,643 | $ | 1,502,824 | $ | 1,501,699 | |||||||||||||||||||
| Common shares outstanding | 35,775 | 36,258 | 36,581 | 36,965 | 37,011 | ||||||||||||||||||||||||
| Tangible book value per common share (non-GAAP) | $ | 39.45 | $ | 42.30 | $ | 41.38 | $ | 41.37 | $ | 41.58 | |||||||||||||||||||
| Total assets (GAAP) | $ | 17,792,510 | $ | 17,399,009 | $ | 17,227,828 | $ | 17,300,884 | $ | 16,402,405 | |||||||||||||||||||
| Less goodwill | 416,968 | 416,968 | 416,968 | 416,968 | 365,164 | ||||||||||||||||||||||||
| Less intangible assets | 16,948 | 18,228 | 19,525 | 21,175 | 6,140 | ||||||||||||||||||||||||
| Tangible assets (non-GAAP) | $ | 17,358,594 | $ | 16,963,813 | $ | 16,791,335 | $ | 16,862,741 | $ | 16,031,101 | |||||||||||||||||||
| Tangible common equity to tangible assets (non-GAAP) | 8.13 | % | 9.04 | % | 9.01 | % | 9.07 | % | 9.60 | % | |||||||||||||||||||
| Tangible common equity to tangible assets adjusted for unrealized losses on HTM securities (non-GAAP) | 7.63 | % | 8.87 | % | 8.78 | % | 8.91 | % | 9.37 | % | |||||||||||||||||||
| Quarter ended | Nine months ended | ||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Sep 30, 2026 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||
| RETURN ON AVERAGE TANGIBLE COMMON EQUITY (ROATCE), RETURN ON AVERAGE ASSETS (ROAA) AND DILUTED EARNINGS PER SHARE | |||||||||||||||||||||||||||||||||||||||||
| Average stockholder’s equity (GAAP) | $ | 2,040,244 | $ | 2,052,233 | $ | 2,076,504 | $ | 2,022,472 | $ | 1,964,126 | $ | 2,056,194 | $ | 1,911,531 | |||||||||||||||||||||||||||
| Less average preferred stock | 71,988 | 71,988 | 71,988 | 71,988 | 71,988 | 71,988 | 71,988 | ||||||||||||||||||||||||||||||||||
| Less average goodwill | 416,968 | 416,968 | 416,968 | 414,858 | 365,164 | 416,968 | 365,164 | ||||||||||||||||||||||||||||||||||
| Less average intangible assets | 17,568 | 18,860 | 20,419 | 11,173 | 6,498 | 18,938 | 7,248 | ||||||||||||||||||||||||||||||||||
| Average tangible common equity (non-GAAP) | $ | 1,533,720 | $ | 1,544,417 | $ | 1,567,129 | $ | 1,524,453 | $ | 1,520,476 | $ | 1,548,300 | $ | 1,467,131 | |||||||||||||||||||||||||||
| Net income (GAAP) | $ | 42,444 | $ | 40,927 | $ | 49,362 | $ | 54,794 | $ | 45,235 | $ | 132,733 | $ | 146,580 | |||||||||||||||||||||||||||
| FDIC special assessment (after tax) | — | — | — | (488) | — | — | — | ||||||||||||||||||||||||||||||||||
| Acquisition costs (after tax) | — | — | — | 1,742 | 549 | — | 1,011 | ||||||||||||||||||||||||||||||||||
| Less net gain on sales of fixed assets (after tax) | — | 515 | — | — | — | 515 | — | ||||||||||||||||||||||||||||||||||
Less net gain (loss) on sales of investment securities (after tax) | — | (1,607) | — | (43) | — | (1,607) | 80 | ||||||||||||||||||||||||||||||||||
Less net gain (loss) on OREO (after tax) | (1,050) | (226) | (221) | 4,621 | 5 | (1,497) | 64 | ||||||||||||||||||||||||||||||||||
| Net income adjusted (non-GAAP) | $ | 43,494 | $ | 42,245 | $ | 49,583 | $ | 51,470 | $ | 45,779 | $ | 135,322 | $ | 147,447 | |||||||||||||||||||||||||||
| Less preferred stock dividends | 938 | 937 | 938 | 937 | 938 | 2,813 | 2,813 | ||||||||||||||||||||||||||||||||||
| Net income available to common stockholders adjusted (non-GAAP) | $ | 42,556 | $ | 41,308 | $ | 48,645 | $ | 50,533 | $ | 44,841 | $ | 132,509 | $ | 144,634 | |||||||||||||||||||||||||||
| Return on average common equity (non-GAAP) | 8.37 | % | 8.10 | % | 9.80 | % | 10.95 | % | 9.29 | % | 8.75 | % | 10.45 | % | |||||||||||||||||||||||||||
| Adjusted return on average common equity (non-GAAP) | 8.58 | % | 8.37 | % | 9.84 | % | 10.28 | % | 9.40 | % | 8.93 | % | 10.51 | % | |||||||||||||||||||||||||||
| ROATCE (non-GAAP) | 10.74 | % | 10.39 | % | 12.53 | % | 14.02 | % | 11.56 | % | 11.22 | % | 13.10 | % | |||||||||||||||||||||||||||
| Adjusted ROATCE (non-GAAP) | 11.01 | % | 10.73 | % | 12.59 | % | 13.15 | % | 11.70 | % | 11.44 | % | 13.18 | % | |||||||||||||||||||||||||||
| Average assets | $ | 17,696,079 | $ | 17,307,716 | $ | 17,311,103 | $ | 17,099,429 | $ | 16,178,088 | $ | 17,439,709 | $ | 15,895,563 | |||||||||||||||||||||||||||
| Return on average assets (GAAP) | 0.95 | % | 0.95 | % | 1.16 | % | 1.27 | % | 1.11 | % | 1.02 | % | 1.23 | % | |||||||||||||||||||||||||||
| Adjusted return on average assets (non-GAAP) | 0.98 | % | 0.98 | % | 1.16 | % | 1.19 | % | 1.12 | % | 1.04 | % | 1.24 | % | |||||||||||||||||||||||||||
| Average diluted common shares | 36,359 | 36,697 | 37,152 | 37,265 | 37,333 | 36,727 | 37,273 | ||||||||||||||||||||||||||||||||||
| Diluted earnings per share (GAAP) | $ | 1.14 | $ | 1.09 | $ | 1.30 | $ | 1.45 | $ | 1.19 | $ | 3.54 | $ | 3.86 | |||||||||||||||||||||||||||
| Adjusted diluted earnings per share (non-GAAP) | $ | 1.17 | $ | 1.13 | $ | 1.31 | $ | 1.36 | $ | 1.20 | $ | 3.61 | $ | 3.88 | |||||||||||||||||||||||||||
| Quarter ended | |||||||||||||||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||||||||||||||
| CALCULATION OF PRE-PROVISION NET REVENUE (PPNR) | |||||||||||||||||||||||||||||||||||||||||
| Net interest income (GAAP) | $ | 174,606 | $ | 168,716 | $ | 166,147 | $ | 168,174 | $ | 158,286 | |||||||||||||||||||||||||||||||
| Noninterest income (GAAP) | 13,214 | 13,478 | 19,088 | 25,412 | 48,624 | ||||||||||||||||||||||||||||||||||||
| FDIC special assessment | — | — | — | (652) | — | ||||||||||||||||||||||||||||||||||||
| Acquisition costs | — | — | — | 2,548 | 609 | ||||||||||||||||||||||||||||||||||||
Less net loss on sales of investment securities | — | (2,146) | — | (57) | — | ||||||||||||||||||||||||||||||||||||
Less net gain (loss) on OREO | (1,402) | (302) | (295) | 6,169 | 7 | ||||||||||||||||||||||||||||||||||||
| Less gain on sales of fixed assets | — | 687 | — | — | — | ||||||||||||||||||||||||||||||||||||
| Less insurance recoveries | — | — | — | — | 32,112 | ||||||||||||||||||||||||||||||||||||
| Less noninterest expense (GAAP) | 114,654 | 115,739 | 115,137 | 114,532 | 109,790 | ||||||||||||||||||||||||||||||||||||
| PPNR (non-GAAP) | $ | 74,568 | $ | 68,216 | $ | 70,393 | $ | 74,838 | $ | 65,610 | |||||||||||||||||||||||||||||||
| At | |||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| ALLOWANCE TO LOANS RATIO EXCLUDING GUARANTEED LOANS | |||||||||||||||||||||||||||||
| Loans (GAAP) | $ | 12,344,705 | $ | 11,892,399 | $ | 11,692,780 | $ | 11,800,338 | $ | 11,583,109 | |||||||||||||||||||
| Less guaranteed loans | 946,578 | 939,255 | 935,409 | 960,132 | 922,168 | ||||||||||||||||||||||||
| Adjusted loans (non-GAAP) | $ | 11,398,127 | $ | 10,953,144 | $ | 10,757,371 | $ | 10,840,206 | $ | 10,660,941 | |||||||||||||||||||
| Allowance for credit losses | $ | 144,519 | $ | 139,238 | $ | 142,064 | $ | 140,022 | $ | 148,854 | |||||||||||||||||||
| Allowance for credit losses/loans (GAAP) | 1.17 | % | 1.17 | % | 1.21 | % | 1.19 | % | 1.29 | % | |||||||||||||||||||
| Allowance for credit losses/adjusted loans (non-GAAP) | 1.27 | % | 1.27 | % | 1.32 | % | 1.29 | % | 1.40 | % | |||||||||||||||||||
| Quarter ended | |||||||||||||||||||||||||||||
| ($ in thousands) | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | ||||||||||||||||||||||||
| ADJUSTED EFFECTIVE TAX RATE | |||||||||||||||||||||||||||||
| Income before income tax expense (GAAP) | $ | 55,059 | $ | 52,245 | $ | 62,855 | $ | 69,818 | $ | 88,673 | |||||||||||||||||||
Less insurance recoveries1 | — | — | — | — | 32,112 | ||||||||||||||||||||||||
| Adjusted income before income tax expense (non-GAAP) | $ | 55,059 | $ | 52,245 | $ | 62,855 | $ | 69,818 | $ | 56,561 | |||||||||||||||||||
| Income tax expense (GAAP) | $ | 12,615 | $ | 11,318 | $ | 13,493 | $ | 15,024 | $ | 43,438 | |||||||||||||||||||
Less tax credit recapture and provision for anticipated tax applied to related insurance recoveries1 | — | — | — | — | 32,112 | ||||||||||||||||||||||||
| Adjusted income tax expense (non-GAAP) | $ | 12,615 | $ | 11,318 | $ | 13,493 | $ | 15,024 | $ | 11,326 | |||||||||||||||||||
| Effective tax rate (GAAP) | 22.9 | % | 21.7 | % | 21.5 | % | 21.5 | % | 49.0 | % | |||||||||||||||||||
| Adjusted effective tax rate (non-GAAP) | 22.9 | % | 21.7 | % | 21.5 | % | 21.5 | % | 20.0 | % | |||||||||||||||||||
1Represents $32.1 million of anticipated proceeds from a pending insurance claim related to a third quarter 2025 solar tax credit recapture event included in noninterest income, and $24.1 million of tax liability related to the anticipated recapture plus approximately $8.0 million of estimated tax liability related to the anticipated proceeds from the pending insurance claim included in income tax expense. | |||||||||||||||||||||||||||||