First Hawaiian posts Q1 2026 profit of $67.8M

First Hawaiian, Inc. reported net income of $67.8 million for the quarter ended March 31, 2026, with diluted earnings per share of $0.55.

Rhea-AI Filing Summary

First Hawaiian, Inc. reported net income of $67.8 million for the quarter ended March 31, 2026, with diluted earnings per share of $0.55. Net interest income was $167.5 million and the net interest margin was 3.19%.

Total assets reached $24.3 billion, with loans and leases of $14.4 billion and deposits of $20.8 billion at March 31, 2026. Credit quality remained solid: non-performing assets were $39.7 million, or 0.27% of loans and leases and other real estate owned, and net charge-offs were 0.14% of average loans and leases on an annualized basis.

Regulatory capital stayed strong, with a common equity tier 1 capital ratio of 13.12% and a tier 1 leverage ratio of 9.21%. The board declared a quarterly cash dividend of $0.26 per share and the company repurchased about 1.3 million shares for $32.0 million at an average price of $24.47 per share.

Insights

Bank equity analyst

Solid Q1 with stable credit and capital; earnings slightly softer QoQ.

First Hawaiian delivered Q1 2026 net income of $67.8 million, down modestly from $69.9 million in Q4 2025 but above $59.2 million a year earlier. Net interest income was $167.5 million and the net interest margin held at 3.19%, just below 3.21% in the prior quarter.

Loan and deposit growth was steady, with loans and leases at $14.4 billion and deposits at $20.8 billion as of March 31, 2026. Provision for credit losses declined to $5.0 million from $7.7 million in Q4 2025, while asset quality metrics remained strong; non-performing assets were $39.7 million, or 0.27% of loans and leases and other real estate owned.

Operating costs ticked higher, with noninterest expense rising to $127.9 million and the efficiency ratio moving to 57.8% from 55.1%. Capital ratios stayed robust, including a common equity tier 1 ratio of 13.12%. The company continued returning capital through a $0.26 per-share dividend and repurchased about 1.3 million shares for $32.0 million in the quarter.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $67.8M Diluted EPS: $0.55 Net interest income: $167.5M +5 more

8 metrics

Net income $67.8M Quarter ended March 31, 2026

Diluted EPS $0.55 Quarter ended March 31, 2026

Net interest income $167.5M Quarter ended March 31, 2026

Net interest margin 3.19% Quarter ended March 31, 2026

Total loans and leases $14.44B As of March 31, 2026

Total deposits $20.78B As of March 31, 2026

Non-performing assets $39.7M (0.27%) As of March 31, 2026

Quarterly dividend $0.26/share Declared April 22, 2026 for Q1 2026

Key Terms

net interest margin, provision for credit losses, non-performing assets, common equity tier 1 capital ratio, +2 more

6 terms

net interest margin financial

"The net interest margin was 3.19% in the first 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

"During the quarter ended March 31, 2026, we recorded a $5.0 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.

non-performing assets financial

"Total non-performing assets were $39.7 million, or 0.27% of total loans and leases and other real estate owned"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

common equity tier 1 capital ratio financial

"The tier 1 leverage, common equity tier 1 and total capital ratios were 9.21%, 13.12% and 14.37%"

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

efficiency ratio financial

"The efficiency ratio was 57.8% and 55.1% for the quarters ended March 31, 2026 and December 31, 2025"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

tangible book value per share financial

"Tangible book value per share (non-GAAP) (2) | 14.57"

Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.

Earnings Snapshot

Net income: $67.8M

Q1 2026

Net income $67.8M up from $59.2M in Q1 2025

Diluted EPS $0.55 up from $0.47 in Q1 2025

Net interest income $167.5M up from $160.5M in Q1 2025

Net interest margin 3.19% up from 3.08% in Q1 2025

FAQ

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

How much did First Hawaiian (FHB) earn in Q1 2026?

First Hawaiian reported net income of $67.8 million for Q1 2026. Diluted earnings per share were $0.55, compared with $0.56–$0.57 in Q4 2025 and $0.47 in Q1 2025, reflecting modest quarterly pressure but year-over-year growth.

What were First Hawaiian (FHB) key balance sheet figures in Q1 2026?

At March 31, 2026, First Hawaiian had $24.3 billion in total assets. Loans and leases were $14.4 billion, and total deposits reached $20.8 billion, up from $20.5 billion at December 31, 2025, indicating moderate balance sheet expansion.

How did First Hawaiian (FHB) credit quality look in Q1 2026?

Credit quality remained strong. Non-performing assets were $39.7 million, or 0.27% of loans and leases and other real estate owned. Net charge-offs were $4.9 million, or 0.14% of average loans and leases on an annualized basis, similar to the prior quarter.

What capital ratios did First Hawaiian (FHB) report for Q1 2026?

As of March 31, 2026, First Hawaiian reported a 13.12% common equity tier 1 capital ratio and a 14.37% total capital ratio. The tier 1 leverage ratio was 9.21%, and total stockholders’ equity was $2.8 billion, supporting regulatory capital strength.

Did First Hawaiian (FHB) declare a dividend for Q1 2026?

Yes. The board declared a quarterly cash dividend of $0.26 per share on April 22, 2026. The dividend is payable on May 29, 2026 to shareholders of record as of the close of business on May 18, 2026.

Did First Hawaiian (FHB) repurchase shares in Q1 2026?

First Hawaiian repurchased approximately 1.3 million shares of common stock during Q1 2026. Total repurchase cost was about $32.0 million, at an average price of $24.47 per share, under the company’s stock repurchase program.

What was First Hawaiian (FHB) net interest margin in Q1 2026?

Net interest margin in Q1 2026 was 3.19%, slightly lower than 3.21% in Q4 2025 but higher than 3.08% in Q1 2025. Net interest income totaled $167.5 million for the quarter, reflecting stable core banking spreads.

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

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Accepted by SEC EDGAR 04/24/2026 - 08:02 AM EDT Learn about SEC filing dates

0000036377false00000363772026-04-242026-04-24

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): April 24, 2026

FIRST HAWAIIAN, INC.

(Exact Name of Registrant as Specified in Its Charter)

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Delaware	​
(State or Other Jurisdiction of Incorporation)	​

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001-14585	​	99-0156159
(Commission File Number)	​	(IRS Employer Identification No.)

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​	​	​
999 Bishop St., 29th Floor	​	​
Honolulu, Hawaii	​	96813
(Address of Principal Executive Offices)	​	(Zip Code)

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(808) 525-7000

(Registrant’s Telephone Number, Including Area Code)

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Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

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☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

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☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class:	Trading Symbol(s)	Name of each exchange on which registered:
Common Stock, par value $0.01 per share	FHB	NASDAQ Global Select Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 2.02 Results of Operations and Financial Condition.

On April 24, 2026, First Hawaiian, Inc. (together with its consolidated subsidiary, “First Hawaiian”) reported its earnings for the quarter ended March 31, 2026. A copy of First Hawaiian’s press release containing this information is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

All information provided in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of First Hawaiian under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such a filing.

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Item 9.01 Financial Statements and Exhibits.

(d)Exhibits

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​	​	​
Exhibit No.	​	Description
​	​	​
99.1	​	Press release of First Hawaiian, Inc. dated April 24, 2026 containing financial information for its quarter ended March 31, 2026.
​	​	​
104	​	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

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2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Pril	​	​
​	FIRST HAWAIIAN, INC.
​	​	​
Date: April 24, 2026	By:	/s/ Robert S. Harrison
​	​	Robert S. Harrison
​	​	Chairman of the Board, President and Chief Executive Officer
​	​	(Principal Executive Officer)

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3

EXHIBIT 99.1

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For Immediate Release

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

HONOLULU, Hawaii April 24, 2026--(Globe Newswire)--First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended March 31, 2026.

“I’m pleased to report that First Hawaiian started 2026 with a strong first quarter,” said Bob Harrison, Chairman, President, and CEO. “We had good growth in loans and deposits, and credit quality remained excellent. Our commitment to our communities is just as strong, as we actively support recovery efforts following the recent floods in Hawai‘i and Typhoon Sinlaku’s impact on Guam and Saipan. We will continue to stand alongside our customers across our markets throughout the recovery.”

On April 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on May 29, 2026, to stockholders of record at the close of business on May 18, 2026.

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First Quarter 2026 Highlights:

● Net income of $67.8 million, or $0.55 per diluted share

● Total loans and leases increased $128.3 million versus prior quarter

● Total deposits increased $261.7 million versus prior quarter

● Net interest margin declined 2 basis points to 3.19%

● Recorded a $5.0 million provision for credit losses

● Board of Directors declared a quarterly dividend of $0.26 per share

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Balance Sheet

Total assets were $24.3 billion at March 31, 2026 versus $24.0 billion at December 31, 2025.

Gross loans and leases were $14.4 billion as of March 31, 2026, an increase of $128.3 million from $14.3 billion as of December 31, 2025.

Total deposits were $20.8 billion as of March 31, 2026, an increase of $261.7 million from $20.5 billion as of December 31, 2025.

Net Interest Income

Net interest income for the first quarter of 2026 was $167.5 million, a decrease of $2.8 million compared to $170.3 million for the prior quarter.

The net interest margin was 3.19% in the first quarter of 2026, 2 basis points lower than the prior quarter’s margin of 3.21%.

Provision Expense

During the quarter ended March 31, 2026, we recorded a $5.0 million provision for credit losses. In the quarter ended December 31, 2025, we recorded a $7.7 million provision for credit losses.

Noninterest Income

Noninterest income was $52.8 million in the first quarter of 2026, $2.7 million lower compared to noninterest income of $55.6 million in the prior quarter.

Noninterest Expense

Noninterest expense was $127.9 million in the first quarter of 2026, $2.8 million higher compared to noninterest expense of $125.1 million in the prior quarter.

The efficiency ratio was 57.8% and 55.1% for the quarters ended March 31, 2026 and December 31, 2025, respectively.

Taxes

The effective tax rate was 22.5% and 24.8% for the quarters ended March 31, 2026 and December 31, 2025, respectively.

Asset Quality

The allowance for credit losses was $169.3 million, or 1.17% of total loans and leases, as of March 31, 2026, compared to $168.5 million, or 1.18% of total loans and leases, as of December 31, 2025. The reserve for unfunded commitments was $34.9 million as of March 31, 2026 and $35.7 million as of December 31, 2025. Net charge-offs were $4.9 million, or 0.14% of average loans and leases on an annualized basis, for the quarter ended March 31, 2026, compared to net charge-offs of $5.0 million, or 0.14% of average loans and leases on an annualized basis, for the quarter ended December 31, 2025. Total non-performing assets were $39.7 million, or 0.27% of total loans and leases and other real estate owned, on March 31, 2026, compared to total non-performing assets of $41.0 million, or 0.29% of total loans and leases and other real estate owned, on December 31, 2025.

Capital

Total stockholders' equity was $2.8 billion at March 31, 2026 and December 31, 2025.

The tier 1 leverage, common equity tier 1 and total capital ratios were 9.21%, 13.12% and 14.37%, respectively, on March 31, 2026, compared with 9.27%, 13.17% and 14.42%, respectively, on December 31, 2025.

The Company repurchased approximately 1.3 million shares of common stock at a total cost of $32.0 million under the stock repurchase program in the first quarter. The average cost was $24.47 per share repurchased.

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/BI91896a5e1d8b487a89f5948ca1270853, 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.

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

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Investor Relations Contact:	Media Contact:
Kevin Haseyama, CFA	Lindsay Chambers
(808) 525-6268	(808) 525-6254
khaseyama@fhb.com	lchambers@fhb.com

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Financial Highlights	​	Table 1
​	​	For the Three Months Ended								​
​	​	March 31,		​	December 31,		​	March 31,		​
(dollars in thousands, except per share data)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025		​ ​ ​
Operating Results:	​	​	​	​	​	​	​	​	​	​
Net interest income	​	$	167,530	​	$	170,302	​	$	160,526	​
Provision for credit losses	​	​	5,000	​	​	7,700	​	​	10,500	​
Noninterest income	​	​	52,819	​	​	55,551	​	​	50,477	​
Noninterest expense	​	​	127,885	​	​	125,102	​	​	123,560	​
Net income	​	​	67,784	​	​	69,931	​	​	59,248	​
Basic earnings per share	​	​	0.55	​	​	0.57	​	​	0.47	​
Diluted earnings per share	​	​	0.55	​	​	0.56	​	​	0.47	​
Dividends declared per share	​	​	0.26	​	​	0.26	​	​	0.26	​
Dividend payout ratio	​	​	47.27	%	​	46.43	%	​	55.32	%
Performance Ratios(1):	​	​	​	​	​	​	​	​	​	​
Net interest margin	​	​	3.19	%	​	3.21	%	​	3.08	%
Efficiency ratio	​	​	57.77	%	​	55.14	%	​	58.22	%
Return on average total assets	​	​	1.14	%	​	1.16	%	​	1.01	%
Return on average tangible assets (non-GAAP)(2)	​	​	1.19	%	​	1.21	%	​	1.05	%
Return on average total stockholders' equity	​	​	9.86	%	​	10.07	%	​	9.09	%
Return on average tangible stockholders' equity (non-GAAP)(2)	​	​	15.33	%	​	15.76	%	​	14.59	%
Average Balances:	​	​	​	​	​	​	​	​	​	​
Average loans and leases	​	$	14,289,418	​	$	14,251,470	​	$	14,309,998	​
Average earning assets	​	​	21,332,641	​	​	21,215,262	​	​	21,169,194	​
Average assets	​	​	24,083,280	​	​	23,925,000	​	​	23,890,459	​
Average deposits	​	​	20,623,573	​	​	20,510,346	​	​	20,354,040	​
Average stockholders' equity	​	​	2,788,826	​	​	2,756,241	​	​	2,641,978	​
Market Value Per Share:	​	​	​	​	​	​	​	​	​	​
Closing	​	​	24.64	​	​	25.30	​	​	24.44	​
High	​	​	28.35	​	​	26.56	​	​	28.28	​
Low	​	​	23.26	​	​	22.65	​	​	23.95	​

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​	​	As of		​	As of		​	As of		​
​	​	March 31,		​	December 31,		​	March 31,		​
(dollars in thousands, except per share data)	​	2026		​	2025			2025		​
Balance Sheet Data:	​	​	​	​	​	​	​	​	​	​
Loans and leases	​	$	14,440,835	​	$	14,312,529	​	$	14,293,036	​
Total assets	​	​	24,264,548	​	​	23,955,252	​	​	23,744,958	​
Total deposits	​	​	20,777,353	​	​	20,515,668	​	​	20,215,816	​
Short-term borrowings	​	​	—	​	​	—	​	​	250,000	​
Total stockholders' equity	​	​	2,767,760	​	​	2,769,365	​	​	2,648,852	​
​	​	​	​	​	​	​	​	​	​	​
Per Share of Common Stock:	​	​	​	​	​	​	​	​	​	​
Book value	​	$	22.75	​	$	22.57	​	$	21.07	​
Tangible book value (non-GAAP)(2)	​	​	14.57	​	​	14.46	​	​	13.15	​
​	​	​	​	​	​	​	​	​	​	​
Asset Quality Ratios:	​	​	​	​	​	​	​	​	​	​
Non-accrual loans and leases / total loans and leases	​	​	0.27	%	​	0.29	%	​	0.14	%
Allowance for credit losses for loans and leases / total loans and leases	​	​	1.17	%	​	1.18	%	​	1.17	%
​	​	​	​	​	​	​	​	​	​	​
Capital Ratios:	​	​	​	​	​	​	​	​	​	​
Common Equity Tier 1 Capital Ratio	​	​	13.12	%	​	13.17	%	​	12.93	%
Tier 1 Capital Ratio	​	​	13.12	%	​	13.17	%	​	12.93	%
Total Capital Ratio	​	​	14.37	%	​	14.42	%	​	14.17	%
Tier 1 Leverage Ratio	​	​	9.21	%	​	9.27	%	​	9.01	%
Total stockholders' equity to total assets	​	​	11.41	%	​	11.56	%	​	11.16	%
Tangible stockholders' equity to tangible assets (non-GAAP)(2)	​	​	7.62	%	​	7.73	%	​	7.27	%
​	​	​	​	​	​	​	​	​	​	​
Non-Financial Data:	​	​	​	​	​	​	​	​	​	​
Number of branches	​	​	49	​	​	49	​	​	48	​
Number of ATMs	​	​	273	​	​	273	​	​	273	​
Number of Full-Time Equivalent Employees	​	​	1,986	​	​	1,997	​	​	1,995	​

(1) Except for the efficiency ratio, amounts are annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

(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 12, GAAP to Non-GAAP Reconciliation.

​

​	​	​	​	​	​	​	​	​	​
Consolidated Statements of Income	​	Table 2
​	​	For the Three Months Ended
​	​	March 31,		​	December 31,		​	March 31,
(dollars in thousands, except per share amounts)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025
Interest income	​	​	​	​	​	​	​	​	​
Loans and lease financing	​	$	186,389	​	$	192,483	​	$	192,102
Available-for-sale investment securities	​	​	14,884	​	​	14,997	​	​	13,150
Held-to-maturity investment securities	​	​	15,063	​	​	15,711	​	​	16,647
Other	​	​	13,362	​	​	13,648	​	​	13,251
Total interest income	​	​	229,698	​	​	236,839	​	​	235,150
Interest expense	​	​	​	​	​	​	​	​	​
Deposits	​	​	62,064	​	​	66,441	​	​	71,709
Short-term borrowings	​	​	—	​	​	—	​	​	2,599
Other	​	​	104	​	​	96	​	​	316
Total interest expense	​	​	62,168	​	​	66,537	​	​	74,624
Net interest income	​	​	167,530	​	​	170,302	​	​	160,526
Provision for credit losses	​	​	5,000	​	​	7,700	​	​	10,500
Net interest income after provision for credit losses	​	​	162,530	​	​	162,602	​	​	150,026
Noninterest income	​	​	​	​	​	​	​	​	​
Service charges on deposit accounts	​	​	8,156	​	​	8,175	​	​	7,535
Credit and debit card fees	​	​	15,083	​	​	15,570	​	​	14,474
Other service charges and fees	​	​	13,784	​	​	13,829	​	​	12,167
Trust and investment services income	​	​	9,146	​	​	9,205	​	​	9,370
Bank-owned life insurance	​	​	4,091	​	​	5,204	​	​	4,371
Investment securities gains, net	​	​	—	​	​	—	​	​	37
Other	​	​	2,559	​	​	3,568	​	​	2,523
Total noninterest income	​	​	52,819	​	​	55,551	​	​	50,477
Noninterest expense	​	​	​	​	​	​	​	​	​
Salaries and employee benefits	​	​	64,090	​	​	64,768	​	​	60,104
Contracted services and professional fees	​	​	13,964	​	​	13,676	​	​	14,839
Occupancy	​	​	7,816	​	​	7,092	​	​	8,100
Equipment	​	​	14,781	​	​	14,550	​	​	13,871
Regulatory assessment and fees	​	​	3,248	​	​	1,204	​	​	3,823
Advertising and marketing	​	​	2,252	​	​	2,326	​	​	2,179
Card rewards program	​	​	8,404	​	​	8,344	​	​	7,919
Other	​	​	13,330	​	​	13,142	​	​	12,725
Total noninterest expense	​	​	127,885	​	​	125,102	​	​	123,560
Income before provision for income taxes	​	​	87,464	​	​	93,051	​	​	76,943
Provision for income taxes	​	​	19,680	​	​	23,120	​	​	17,695
Net income	​	$	67,784	​	$	69,931	​	$	59,248
Basic earnings per share	​	$	0.55	​	$	0.57	​	$	0.47
Diluted earnings per share	​	$	0.55	​	$	0.56	​	$	0.47
Basic weighted-average outstanding shares	​	​	122,457,604	​	​	123,342,709	​	​	126,281,802
Diluted weighted-average outstanding shares	​	​	123,345,708	​	​	124,158,037	​	​	127,166,932

​

​

​	​	​	​	​	​	​	​	​	​
Consolidated Balance Sheets	​	Table 3
​	​	March 31,		​	December 31,		​	March 31,
(dollars in thousands, except share amount)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025
Assets	​	​	​	​	​	​	​	​	​
Cash and due from banks	​	$	225,727	​	$	228,734	​	$	240,738
Interest-bearing deposits in other banks	​	​	1,493,421	​	​	1,249,018	​	​	1,073,841
Investment securities:	​	​	​	​	​	​	​	​	​
Available-for-sale, at fair value (amortized cost: $2,270,792 as of March 31, 2026, $2,246,716 as of December 31, 2025 and $2,091,034 as of March 31, 2025)	​	​	2,080,004	​	​	2,076,233	​	​	1,858,428
Held-to-maturity, at amortized cost (fair value: $3,074,133 as of March 31, 2026, $3,188,775 as of December 31, 2025 and $3,250,275 as of March 31, 2025)	​	​	3,480,022	​	​	3,533,082	​	​	3,724,908
Loans held for sale	​	​	—	​	​	1,370	​	​	1,547
Loans and leases	​	​	14,440,835	​	​	14,312,529	​	​	14,293,036
Less: allowance for credit losses	​	​	169,318	​	​	168,468	​	​	166,612
Net loans and leases	​	​	14,271,517	​	​	14,144,061	​	​	14,126,424
​	​	​	​	​	​	​	​	​	​
Premises and equipment, net	​	​	302,807	​	​	303,496	​	​	292,576
Accrued interest receivable	​	​	77,286	​	​	77,641	​	​	78,973
Bank-owned life insurance	​	​	514,069	​	​	513,182	​	​	495,567
Goodwill	​	​	995,492	​	​	995,492	​	​	995,492
Mortgage servicing rights	​	​	4,470	​	​	4,638	​	​	4,926
Other assets	​	​	819,733	​	​	828,305	​	​	851,538
Total assets	​	$	24,264,548	​	$	23,955,252	​	$	23,744,958
Liabilities and Stockholders' Equity	​	​	​	​	​	​	​	​	​
Deposits:	​	​	​	​	​	​	​	​	​
Interest-bearing	​	$	14,257,290	​	$	13,968,376	​	$	13,330,265
Noninterest-bearing	​	​	6,520,063	​	​	6,547,292	​	​	6,885,551
Total deposits	​	​	20,777,353	​	​	20,515,668	​	​	20,215,816
Short-term borrowings	​	​	—	​	​	—	​	​	250,000
Retirement benefits payable	​	​	98,220	​	​	99,052	​	​	96,241
Other liabilities	​	​	621,215	​	​	571,167	​	​	534,049
Total liabilities	​	​	21,496,788	​	​	21,185,887	​	​	21,096,106
​	​	​	​	​	​	​	​	​	​
Stockholders' equity	​	​	​	​	​	​	​	​	​
Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,627,813 / 121,648,973 shares as of March 31, 2026, issued/outstanding: 142,184,584 / 122,689,256 shares as of December 31, 2025 and issued/outstanding: 142,139,353 / 125,692,598 shares as of March 31, 2025)	​	​	1,426	​	​	1,422	​	​	1,421
Additional paid-in capital	​	​	2,580,501	​	​	2,576,540	​	​	2,564,408
Retained earnings	​	​	1,114,759	​	​	1,078,885	​	​	960,337
Accumulated other comprehensive loss, net	​	​	(372,747)	​	​	(368,140)	​	​	(433,769)
Treasury stock (20,978,840 shares as of March 31, 2026, 19,495,328 shares as of December 31, 2025 and 16,446,755 shares as of March 31, 2025)	​	​	(556,179)	​	​	(519,342)	​	​	(443,545)
Total stockholders' equity	​	​	2,767,760	​	​	2,769,365	​	​	2,648,852
Total liabilities and stockholders' equity	​	$	24,264,548	​	$	23,955,252	​	$	23,744,958

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average Balances and Interest Rates

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Table 4

​

​

Three Months Ended

​

Three Months Ended

​

Three Months Ended

​

​

​

March 31, 2026

​

December 31, 2025

​

March 31, 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

​

$

1,455.0

​

$

13.2

​

3.68

%

$

1,331.8

​

$

13.2

​

3.95

%

$

1,171.1

​

$

12.8

​

4.44

%

Available-for-Sale Investment Securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable

​

​

2,050.7

​

​

14.9

​

2.91

​

​

2,035.3

​

​

15.0

​

2.94

​

​

1,891.4

​

​

13.2

​

2.79

​

Non-Taxable

​

​

0.8

​

​

—

​

4.86

​

​

0.9

​

​

—

​

4.97

​

​

1.4

​

​

—

​

5.52

​

Held-to-Maturity Investment Securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Taxable

​

​

2,916.5

​

​

12.0

​

1.64

​

​

2,973.8

​

​

12.6

​

1.69

​

​

3,164.0

​

​

13.6

​

1.72

​

Non-Taxable

​

​

592.6

​

​

3.5

​

2.39

​

​

594.3

​

​

3.5

​

2.37

​

​

599.0

​

​

3.7

​

2.51

​

Total Investment Securities

​

​

5,560.6

​

​

30.4

​

2.19

​

​

5,604.3

​

​

31.1

​

2.22

​

​

5,655.8

​

​

30.5

​

2.16

​

Loans Held for Sale

​

​

0.9

​

​

—

​

5.87

​

​

0.3

​

​

—

​

5.83

​

​

0.3

​

​

—

​

6.28

​

Loans and Leases(1)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial and industrial

​

​

2,170.6

​

​

30.8

​

5.75

​

​

2,131.5

​

​

31.9

​

5.94

​

​

2,196.8

​

​

33.6

​

6.20

​

Commercial real estate

​

​

4,608.4

​

​

65.0

​

5.72

​

​

4,599.2

​

​

68.8

​

5.93

​

​

4,420.1

​

​

66.5

​

6.10

​

Construction

​

​

775.5

​

​

12.4

​

6.48

​

​

804.5

​

​

13.3

​

6.55

​

​

937.0

​

​

15.4

​

6.67

​

Residential:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Residential mortgage

​

​

4,081.8

​

​

41.0

​

4.02

​

​

4,081.3

​

​

41.0

​

4.02

​

​

4,150.3

​

​

40.9

​

3.94

​

Home equity line

​

​

1,175.4

​

​

13.7

​

4.71

​

​

1,175.7

​

​

14.0

​

4.71

​

​

1,149.8

​

​

13.1

​

4.61

​

Consumer

​

​

1,034.5

​

​

20.0

​

7.84

​

​

1,022.1

​

​

19.8

​

7.70

​

​

1,019.5

​

​

18.9

​

7.53

​

Lease financing

​

​

443.2

​

​

4.1

​

3.75

​

​

437.2

​

​

4.3

​

3.89

​

​

436.5

​

​

4.3

​

3.99

​

Total Loans and Leases

​

​

14,289.4

​

​

187.0

​

5.29

​

​

14,251.5

​

​

193.1

​

5.38

​

​

14,310.0

​

​

192.7

​

5.44

​

Other Earning Assets

​

​

26.7

​

​

0.1

​

2.52

​

​

27.4

​

​

0.4

​

5.69

​

​

32.0

​

​

0.4

​

5.48

​

Total Earning Assets(2)

​

​

21,332.6

​

​

230.7

​

4.37

​

​

21,215.3

​

​

237.8

​

4.46

​

​

21,169.2

​

​

236.4

​

4.51

​

Cash and Due from Banks

​

​

226.4

​

​

​

​

​

​

​

221.1

​

​

​

​

​

​

​

235.9

​

​

​

​

​

​

Other Assets

​

​

2,524.3

​

​

​

​

​

​

​

2,488.6

​

​

​

​

​

​

​

2,485.4

​

​

​

​

​

​

Total Assets

​

$

24,083.3

​

​

​

​

​

​

$

23,925.0

​

​

​

​

​

​

$

23,890.5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-Bearing Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-Bearing Deposits

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Savings

​

$

6,404.5

​

$

18.9

​

1.20

%

$

6,288.5

​

$

20.0

​

1.26

%

$

6,232.5

​

$

21.3

​

1.38

%

Money Market

​

​

4,358.9

​

​

19.8

​

1.84

​

​

4,185.4

​

​

22.0

​

2.08

​

​

3,922.2

​

​

23.0

​

2.38

​

Time

​

​

3,381.3

​

​

23.4

​

2.80

​

​

3,368.8

​

​

24.4

​

2.88

​

​

3,317.1

​

​

27.4

​

3.36

​

Total Interest-Bearing Deposits

​

​

14,144.7

​

​

62.1

​

1.78

​

​

13,842.7

​

​

66.4

​

1.90

​

​

13,471.8

​

​

71.7

​

2.16

​

Other Short-Term Borrowings

​

​

—

​

​

—

​

—

​

​

—

​

​

—

​

—

​

​

250.0

​

​

2.6

​

4.22

​

Other Interest-Bearing Liabilities

​

​

12.5

​

​

0.1

​

3.40

​

​

9.5

​

​

0.1

​

3.97

​

​

27.5

​

​

0.3

​

4.67

​

Total Interest-Bearing Liabilities

​

​

14,157.2

​

​

62.2

​

1.78

​

​

13,852.2

​

​

66.5

​

1.91

​

​

13,749.3

​

​

74.6

​

2.20

​

Net Interest Income

​

​

​

​

$

168.5

​

​

​

​

​

​

$

171.3

​

​

​

​

​

​

$

161.8

​

​

​

Interest Rate Spread(3)

​

​

​

​

​

​

​

2.59

%

​

​

​

​

​

​

2.55

%

​

​

​

​

​

​

2.31

%

Net Interest Margin(4)

​

​

​

​

​

​

​

3.19

%

​

​

​

​

​

​

3.21

%

​

​

​

​

​

​

3.08

%

Noninterest-Bearing Demand Deposits

​

​

6,478.9

​

​

​

​

​

​

​

6,667.6

​

​

​

​

​

​

​

6,882.2

​

​

​

​

​

​

Other Liabilities

​

​

658.4

​

​

​

​

​

​

​

649.0

​

​

​

​

​

​

​

617.0

​

​

​

​

​

​

Stockholders' Equity

​

​

2,788.8

​

​

​

​

​

​

​

2,756.2

​

​

​

​

​

​

​

2,642.0

​

​

​

​

​

​

Total Liabilities and Stockholders' Equity

​

$

24,083.3

​

​

​

​

​

​

$

23,925.0

​

​

​

​

​

​

$

23,890.5

​

​

​

​

​

​

(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 $1.0 million, $1.0 million and $1.2 million for the three months ended March 31, 2026, December 31, 2025 and March 31, 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 March 31, 2026, December 31, 2025 and March 31, 2025, on a fully taxable-equivalent basis, divided by average total earning assets.

​

​

​

​	​	​	​	​	​	​	​	​	​
Analysis of Change in Net Interest Income	​	​	​	​	​	​	​	​	Table 5
​	​	Three Months Ended March 31, 2026
​	​	Compared to December 31, 2025
(dollars in millions)	​	Volume		​	Rate		​	Total (1)
Change in Interest Income:	​ ​ ​	​	​	​ ​ ​	​	​	​ ​ ​	​	​
Interest-Bearing Deposits in Other Banks	​	$	1.0	​	$	(1.0)	​	$	—
Available-for-Sale Investment Securities	​	​	​	​	​	​	​	​	​
Taxable	​	​	0.1	​	​	(0.2)	​	​	(0.1)
Held-to-Maturity Investment Securities	​	​	​	​	​	​	​	​	​
Taxable	​	​	(0.2)	​	​	(0.4)	​	​	(0.6)
Non-Taxable	​	​	—	​	​	—	​	​	—
Total Investment Securities	​	​	(0.1)	​	​	(0.6)	​	​	(0.7)
Loans and Leases	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	​	0.3	​	​	(1.4)	​	​	(1.1)
Commercial real estate	​	​	—	​	​	(3.8)	​	​	(3.8)
Construction	​	​	(0.7)	​	​	(0.2)	​	​	(0.9)
Residential:	​	​	​	​	​	​	​	​	​
Residential mortgage	​	​	—	​	​	—	​	​	—
Home equity line	​	​	(0.3)	​	​	—	​	​	(0.3)
Consumer	​	​	0.1	​	​	0.1	​	​	0.2
Lease financing	​	​	—	​	​	(0.2)	​	​	(0.2)
Total Loans and Leases	​	​	(0.6)	​	​	(5.5)	​	​	(6.1)
Other Earning Assets	​	​	(0.1)	​	​	(0.2)	​	​	(0.3)
Total Change in Interest Income	​	​	0.2	​	​	(7.3)	​	​	(7.1)
​	​	​	​	​	​	​	​	​	​
Change in Interest Expense:	​	​	​	​	​	​	​	​	​
Interest-Bearing Deposits	​	​	​	​	​	​	​	​	​
Savings	​	​	0.2	​	​	(1.3)	​	​	(1.1)
Money Market	​	​	0.7	​	​	(2.9)	​	​	(2.2)
Time	​	​	0.1	​	​	(1.1)	​	​	(1.0)
Total Interest-Bearing Deposits	​	​	1.0	​	​	(5.3)	​	​	(4.3)
Other Short-Term Borrowings	​	​	—	​	​	—	​	​	—
Other Interest-Bearing Liabilities	​	​	—	​	​	—	​	​	—
Total Change in Interest Expense	​	​	1.0	​	​	(5.3)	​	​	(4.3)
Change in Net Interest Income	​	$	(0.8)	​	$	(2.0)	​	$	(2.8)

(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 6
​	​	Three Months Ended March 31, 2026
​	​	Compared to March 31, 2025
(dollars in millions)	​	Volume		​	Rate		​	Total (1)
Change in Interest Income:	​ ​ ​	​	​	​ ​ ​	​	​	​ ​ ​	​	​
Interest-Bearing Deposits in Other Banks	​	$	2.8	​	$	(2.4)	​	$	0.4
Available-for-Sale Investment Securities	​	​	​	​	​	​	​	​	​
Taxable	​	​	1.1	​	​	0.6	​	​	1.7
Held-to-Maturity Investment Securities	​	​	​	​	​	​	​	​	​
Taxable	​	​	(1.0)	​	​	(0.6)	​	​	(1.6)
Non-Taxable	​	​	—	​	​	(0.2)	​	​	(0.2)
Total Investment Securities	​	​	0.1	​	​	(0.2)	​	​	(0.1)
Loans and Leases	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	​	(0.4)	​	​	(2.4)	​	​	(2.8)
Commercial real estate	​	​	2.8	​	​	(4.3)	​	​	(1.5)
Construction	​	​	(2.6)	​	​	(0.4)	​	​	(3.0)
Residential:	​	​	​	​	​	​	​	​	​
Residential mortgage	​	​	(0.7)	​	​	0.8	​	​	0.1
Home equity line	​	​	0.3	​	​	0.3	​	​	0.6
Consumer	​	​	0.3	​	​	0.8	​	​	1.1
Lease financing	​	​	0.1	​	​	(0.3)	​	​	(0.2)
Total Loans and Leases	​	​	(0.2)	​	​	(5.5)	​	​	(5.7)
Other Earning Assets	​	​	(0.1)	​	​	(0.2)	​	​	(0.3)
Total Change in Interest Income	​	​	2.6	​	​	(8.3)	​	​	(5.7)
​	​	​	​	​	​	​	​	​	​
Change in Interest Expense:	​	​	​	​	​	​	​	​	​
Interest-Bearing Deposits	​	​	​	​	​	​	​	​	​
Savings	​	​	0.5	​	​	(2.9)	​	​	(2.4)
Money Market	​	​	2.4	​	​	(5.6)	​	​	(3.2)
Time	​	​	0.6	​	​	(4.6)	​	​	(4.0)
Total Interest-Bearing Deposits	​	​	3.5	​	​	(13.1)	​	​	(9.6)
Other Short-Term Borrowings	​	​	(1.3)	​	​	(1.3)	​	​	(2.6)
Other Interest-Bearing Liabilities	​	​	(0.1)	​	​	(0.1)	​	​	(0.2)
Total Change in Interest Expense	​	​	2.1	​	​	(14.5)	​	​	(12.4)
Change in Net Interest Income	​	$	0.5	​	$	6.2	​	$	6.7

(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 7
​	​	March 31,		​	December 31,		​	March 31,
(dollars in thousands)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025
Commercial and industrial	​	$	2,241,882	​	$	2,171,333	​	$	2,261,394
Commercial real estate	​	​	4,715,741	​	​	4,590,326	​	​	4,367,433
Construction	​	​	769,302	​	​	808,275	​	​	954,072
Residential:	​	​	​	​	​	​	​	​	​
Residential mortgage	​	​	4,063,933	​	​	4,096,300	​	​	4,129,518
Home equity line	​	​	1,176,228	​	​	1,178,527	​	​	1,144,895
Total residential	​	​	5,240,161	​	​	5,274,827	​	​	5,274,413
Consumer	​	​	1,030,002	​	​	1,025,838	​	​	998,325
Lease financing	​	​	443,747	​	​	441,930	​	​	437,399
Total loans and leases	​	$	14,440,835	​	$	14,312,529	​	$	14,293,036

​

​

​	​	​	​	​	​	​	​	​	​
Deposits	​	​	​	​	​	​	​	​	Table 8
​	​	March 31,		​	December 31,		​	March 31,
(dollars in thousands)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025
Demand	​	$	6,520,063	​	$	6,547,292	​	$	6,885,551
Savings	​	​	6,566,192	​	​	6,308,873	​	​	6,110,796
Money Market	​	​	4,310,474	​	​	4,289,370	​	​	3,865,203
Time	​	​	3,380,624	​	​	3,370,133	​	​	3,354,266
Total Deposits	​	$	20,777,353	​	$	20,515,668	​	$	20,215,816

​

​

​	​	​	​	​	​	​	​	​	​
Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More	​	​	​	​	​	​	​	​	Table 9
​	​	March 31,		​	December 31,		​	March 31,
(dollars in thousands)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025
Non-Performing Assets	​	​	​	​	​	​	​	​	​
Non-Accrual Loans and Leases	​	​	​	​	​	​	​	​	​
Commercial Loans:	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	$	4,960	​	$	8,805	​	$	—
Commercial real estate	​	​	2,952	​	​	3,007	​	​	216
Construction	​	​	1,788	​	​	1,788	​	​	375
Lease financing	​	​	691	​	​	734	​	​	—
Total Commercial Loans	​	​	10,391	​	​	14,334	​	​	591
Residential Loans:	​	​	​	​	​	​	​	​	​
Residential mortgage	​	​	17,665	​	​	16,423	​	​	12,809
Home equity line	​	​	11,624	​	​	10,271	​	​	6,788
Total Residential Loans	​	​	29,289	​	​	26,694	​	​	19,597
Total Non-Accrual Loans and Leases	​	​	39,680	​	​	41,028	​	​	20,188
Total Non-Performing Assets	​	$	39,680	​	$	41,028	​	$	20,188
​	​	​	​	​	​	​	​	​	​
Accruing Loans and Leases Past Due 90 Days or More	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	$	715	​	$	318	​	$	740
Residential mortgage	​	​	9	​	​	55	​	​	1,008
Consumer	​	​	3,620	​	​	2,984	​	​	2,554
Total Accruing Loans and Leases Past Due 90 Days or More	​	$	4,344	​	$	3,357	​	$	4,302
​	​	​	​	​	​	​	​	​	​
Total Loans and Leases	​	$	14,440,835	​	$	14,312,529	​	$	14,293,036

​

​

​	​	​	​	​	​	​	​	​	​	​
Allowance for Credit Losses and Reserve for Unfunded Commitments	​	Table 10
​	​	For the Three Months Ended								​
​	​	March 31,		​	December 31,		​	March 31,		​
(dollars in thousands)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025		​ ​ ​
Balance at Beginning of Period	​	$	204,165	​	$	201,466	​	$	193,240	​
Loans and Leases Charged-Off	​	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	​	(2,625)	​	​	(1,478)	​	​	(1,459)	​
Home equity line	​	​	—	​	​	—	​	​	(14)	​
Consumer	​	​	(4,844)	​	​	(5,186)	​	​	(5,025)	​
Total Loans and Leases Charged-Off	​	​	(7,469)	​	​	(6,664)	​	​	(6,498)	​
Recoveries on Loans and Leases Previously Charged-Off	​	​	​	​	​	​	​	​	​	​
Commercial Loans:	​	​	​	​	​	​	​	​	​	​
Commercial and industrial	​	​	266	​	​	193	​	​	403	​
Commercial real estate	​	​	—	​	​	—	​	​	251	​
Lease financing	​	​	3	​	​	—	​	​	—	​
Total Commercial Loans	​	​	269	​	​	193	​	​	654	​
Residential Loans:	​	​	​	​	​	​	​	​	​	​
Residential mortgage	​	​	13	​	​	14	​	​	20	​
Home equity line	​	​	39	​	​	27	​	​	64	​
Total Residential Loans	​	​	52	​	​	41	​	​	84	​
Consumer	​	​	2,248	​	​	1,429	​	​	1,979	​
Total Recoveries on Loans and Leases Previously Charged-Off	​	​	2,569	​	​	1,663	​	​	2,717	​
Net Loans and Leases Charged-Off	​	​	(4,900)	​	​	(5,001)	​	​	(3,781)	​
Provision for Credit Losses	​	​	5,000	​	​	7,700	​	​	10,500	​
Balance at End of Period	​	$	204,265	​	$	204,165	​	$	199,959	​
Components:	​	​	​	​	​	​	​	​	​	​
Allowance for Credit Losses	​	$	169,318	​	$	168,468	​	$	166,612	​
Reserve for Unfunded Commitments	​	​	34,947	​	​	35,697	​	​	33,347	​
Total Allowance for Credit Losses and Reserve for Unfunded Commitments	​	$	204,265	​	$	204,165	​	$	199,959	​
Average Loans and Leases Outstanding	​	$	14,289,418	​	$	14,251,470	​	$	14,309,998	​
Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding(1)	​	​	0.14	%	​	0.14	%	​	0.11	%
Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding	​	​	1.17	%	​	1.18	%	​	1.17	%
Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases	​	​	4.27x	​	​	4.11x	​	​	8.25x	​

(1) Annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans and Leases by Year of Origination and Credit Quality Indicator

​

​

Table 11

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

$

39,118

​

$

287,976

​

$

121,084

​

$

59,643

​

$

88,428

​

$

360,068

​

$

1,084,181

​

$

29,066

​

$

2,069,564

Special Mention

​

​

460

​

​

3,650

​

​

2,733

​

​

1,690

​

​

2,286

​

​

1,120

​

​

1,404

​

​

—

​

​

13,343

Substandard

​

​

4,439

​

​

717

​

​

—

​

​

405

​

​

3,164

​

​

19,234

​

​

32,253

​

​

—

​

​

60,212

Other (1)

​

​

14,670

​

​

15,797

​

​

8,089

​

​

4,154

​

​

3,116

​

​

1,754

​

​

51,183

​

​

—

​

​

98,763

Total Commercial and Industrial

​

​

58,687

​

​

308,140

​

​

131,906

​

​

65,892

​

​

96,994

​

​

382,176

​

​

1,169,021

​

​

29,066

​

​

2,241,882

Current period gross charge-offs

​

​

—

​

​

—

​

​

46

​

​

—

​

​

10

​

​

708

​

​

1,861

​

​

—

​

​

2,625

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Real Estate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Risk rating:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

​

245,499

​

​

732,845

​

​

290,053

​

​

415,324

​

​

728,453

​

​

1,987,673

​

​

98,893

​

​

6,790

​

​

4,505,530

Special Mention

​

​

—

​

​

—

​

​

678

​

​

1,659

​

​

50,911

​

​

72,086

​

​

3,035

​

​

—

​

​

128,369

Substandard

​

​

224

​

​

—

​

​

5,514

​

​

737

​

​

57,133

​

​

16,863

​

​

1,251

​

​

—

​

​

81,722

Other (1)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

120

​

​

—

​

​

—

​

​

120

Total Commercial Real Estate

​

​

245,723

​

​

732,845

​

​

296,245

​

​

417,720

​

​

836,497

​

​

2,076,742

​

​

103,179

​

​

6,790

​

​

4,715,741

Current period gross charge-offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Risk rating:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

​

8,033

​

​

101,880

​

​

256,657

​

​

79,748

​

​

193,998

​

​

37,280

​

​

37,491

​

​

—

​

​

715,087

Special Mention

​

​

—

​

​

—

​

​

—

​

​

—

​

​

27,979

​

​

—

​

​

—

​

​

—

​

​

27,979

Substandard

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

904

​

​

—

​

​

—

​

​

904

Other (1)

​

​

1,634

​

​

8,395

​

​

5,881

​

​

4,878

​

​

2,098

​

​

1,764

​

​

682

​

​

—

​

​

25,332

Total Construction

​

​

9,667

​

​

110,275

​

​

262,538

​

​

84,626

​

​

224,075

​

​

39,948

​

​

38,173

​

​

—

​

​

769,302

Current period gross charge-offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Lease Financing

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Risk rating:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Pass

​

​

68,176

​

​

65,980

​

​

80,294

​

​

87,568

​

​

38,834

​

​

97,878

​

​

—

​

​

—

​

​

438,730

Special Mention

​

​

—

​

​

—

​

​

—

​

​

355

​

​

37

​

​

—

​

​

—

​

​

—

​

​

392

Substandard

​

​

—

​

​

—

​

​

4,072

​

​

368

​

​

185

​

​

—

​

​

—

​

​

—

​

​

4,625

Total Lease Financing

​

​

68,176

​

​

65,980

​

​

84,366

​

​

88,291

​

​

39,056

​

​

97,878

​

​

—

​

​

—

​

​

443,747

Current period gross charge-offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Commercial Lending

​

$

382,253

​

$

1,217,240

​

$

775,055

​

$

656,529

​

$

1,196,622

​

$

2,596,744

​

$

1,310,373

​

$

35,856

​

$

8,170,672

Current period gross charge-offs

​

$

—

​

$

—

​

$

46

​

$

—

​

$

10

​

$

708

​

$

1,861

​

$

—

​

$

2,625

(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

​

$

55,081

​

$

194,338

​

$

141,798

​

$

177,437

​

$

445,925

​

$

2,310,043

​

$

—

​

$

—

​

$

3,324,622

680 - 739

​

​

5,446

​

​

21,151

​

​

18,967

​

​

25,654

​

​

55,761

​

​

260,895

​

​

—

​

​

—

​

​

387,874

620 - 679

​

​

158

​

​

6,936

​

​

2,095

​

​

5,513

​

​

24,724

​

​

74,911

​

​

—

​

​

—

​

​

114,337

550 - 619

​

​

—

​

​

—

​

​

713

​

​

1,186

​

​

3,099

​

​

19,617

​

​

—

​

​

—

​

​

24,615

Less than 550

​

​

—

​

​

—

​

​

1,960

​

​

885

​

​

2,980

​

​

13,897

​

​

—

​

​

—

​

​

19,722

No Score (3)

​

​

—

​

​

8,064

​

​

5,077

​

​

5,352

​

​

15,747

​

​

51,351

​

​

—

​

​

—

​

​

85,591

Other (2)

​

​

2,541

​

​

20,241

​

​

7,176

​

​

11,124

​

​

13,352

​

​

44,311

​

​

8,427

​

​

—

​

​

107,172

Total Residential Mortgage

​

​

63,226

​

​

250,730

​

​

177,786

​

​

227,151

​

​

561,588

​

​

2,775,025

​

​

8,427

​

​

—

​

​

4,063,933

Current period gross charge-offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Home Equity Line

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FICO:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

740 and greater

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

927,710

​

​

353

​

​

928,063

680 - 739

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

179,282

​

​

1,553

​

​

180,835

620 - 679

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

42,052

​

​

407

​

​

42,459

550 - 619

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

13,280

​

​

821

​

​

14,101

Less than 550

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

9,946

​

​

71

​

​

10,017

No Score (3)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

753

​

​

—

​

​

753

Total Home Equity Line

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

1,173,023

​

​

3,205

​

​

1,176,228

Current period gross charge-offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Residential Lending

​

$

63,226

​

$

250,730

​

$

177,786

​

$

227,151

​

$

561,588

​

$

2,775,025

​

$

1,181,450

​

$

3,205

​

$

5,240,161

Current period gross charge-offs

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Consumer Lending

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

FICO:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

740 and greater

​

​

33,204

​

​

101,067

​

​

58,946

​

​

38,378

​

​

41,556

​

​

17,925

​

​

95,475

​

​

91

​

​

386,642

680 - 739

​

​

24,220

​

​

80,977

​

​

43,398

​

​

24,700

​

​

20,837

​

​

10,393

​

​

86,290

​

​

534

​

​

291,349

620 - 679

​

​

15,474

​

​

45,858

​

​

17,506

​

​

9,762

​

​

10,820

​

​

6,119

​

​

51,631

​

​

824

​

​

157,994

550 - 619

​

​

1,090

​

​

12,576

​

​

8,565

​

​

5,877

​

​

6,434

​

​

4,201

​

​

17,550

​

​

906

​

​

57,199

Less than 550

​

​

203

​

​

4,779

​

​

4,993

​

​

3,216

​

​

3,499

​

​

2,786

​

​

6,156

​

​

528

​

​

26,160

No Score (3)

​

​

2,494

​

​

940

​

​

4

​

​

31

​

​

—

​

​

6

​

​

35,918

​

​

158

​

​

39,551

Other (2)

​

​

—

​

​

4,503

​

​

—

​

​

—

​

​

—

​

​

1,498

​

​

65,106

​

​

—

​

​

71,107

Total Consumer Lending

​

$

76,685

​

$

250,700

​

$

133,412

​

$

81,964

​

$

83,146

​

$

42,928

​

$

358,126

​

$

3,041

​

$

1,030,002

Current period gross charge-offs

​

$

—

​

$

680

​

$

778

​

$

582

​

$

370

​

$

593

​

$

1,645

​

$

196

​

$

4,844

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Loans and Leases

​

$

522,164

​

$

1,718,670

​

$

1,086,253

​

$

965,644

​

$

1,841,356

​

$

5,414,697

​

$

2,849,949

​

$

42,102

​

$

14,440,835

Current period gross charge-offs

​

$

—

​

$

680

​

$

824

​

$

582

​

$

380

​

$

1,301

​

$

3,506

​

$

196

​

$

7,469

(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 March 31, 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 March 31, 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 12
​	​	For the Three Months Ended								​
​	​	March 31,		​	December 31,		​	March 31,		​
(dollars in thousands)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025		​ ​ ​
Income Statement Data:	​	​	​	​	​	​	​	​	​	​
Net income	​	$	67,784	​	$	69,931	​	$	59,248	​
​	​	​	​	​	​	​	​	​	​	​
Average total stockholders' equity	​	$	2,788,826	​	$	2,756,241	​	$	2,641,978	​
Less: average goodwill	​	​	995,492	​	​	995,492	​	​	995,492	​
Average tangible stockholders' equity	​	$	1,793,334	​	$	1,760,749	​	$	1,646,486	​
​	​	​	​	​	​	​	​	​	​	​
Average total assets	​	$	24,083,280	​	$	23,925,000	​	$	23,890,459	​
Less: average goodwill	​	​	995,492	​	​	995,492	​	​	995,492	​
Average tangible assets	​	$	23,087,788	​	$	22,929,508	​	$	22,894,967	​
​	​	​	​	​	​	​	​	​	​	​
Return on average total stockholders' equity(1)	​	​	9.86	%	​	10.07	%	​	9.09	%
Return on average tangible stockholders' equity (non-GAAP)(1)	​	​	15.33	%	​	15.76	%	​	14.59	%
​	​	​	​	​	​	​	​	​	​	​
Return on average total assets(1)	​	​	1.14	%	​	1.16	%	​	1.01	%
Return on average tangible assets (non-GAAP)(1)	​	​	1.19	%	​	1.21	%	​	1.05	%

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​		​
​	​	As of		​	As of		​	As of		​
​	​	March 31,		​	December 31,		​	March 31,		​
(dollars in thousands, except per share amounts)	​ ​ ​	2026		​ ​ ​	2025		​ ​ ​	2025		​
Balance Sheet Data:	​	​	​	​	​	​	​	​	​	​
Total stockholders' equity	​	$	2,767,760	​	$	2,769,365	​	$	2,648,852	​
Less: goodwill	​	​	995,492	​	​	995,492	​	​	995,492	​
Tangible stockholders' equity	​	$	1,772,268	​	$	1,773,873	​	$	1,653,360	​
​	​	​	​	​	​	​	​	​	​	​
Total assets	​	$	24,264,548	​	$	23,955,252	​	$	23,744,958	​
Less: goodwill	​	​	995,492	​	​	995,492	​	​	995,492	​
Tangible assets	​	$	23,269,056	​	$	22,959,760	​	$	22,749,466	​
​	​	​	​	​	​	​	​	​	​	​
Shares outstanding	​	​	121,648,973	​	​	122,689,256	​	​	125,692,598	​
​	​	​	​	​	​	​	​	​	​	​
Total stockholders' equity to total assets	​	​	11.41	%	​	11.56	%	​	11.16	%
Tangible stockholders' equity to tangible assets (non-GAAP)	​	​	7.62	%	​	7.73	%	​	7.27	%
​	​	​	​	​	​	​	​	​	​	​
Book value per share	​	$	22.75	​	$	22.57	​	$	21.07	​
Tangible book value per share (non-GAAP)	​	$	14.57	​	$	14.46	​	$	13.15	​

(1) Annualized for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025.

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