---
title: "First Hawaiian, Inc. Reports Second Quarter 2026 Financial Results and Declares Dividend | FHB Stock News"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293755875.md"
description: "First Hawaiian, Inc. reported Q2 2026 net income of $73.4 million ($0.60 per diluted share). The company declared a quarterly cash dividend of $0.26 per share, payable August 28, 2026. Key highlights include a 6 basis point increase in net interest margin to 3.25%, total loans increasing by $136.5 million, and deposits decreasing by $623.2 million. CEO Bob Harrison cited strong business execution and the upcoming acquisition of Tri Counties Bank as drivers for long-term shareholder value."
datetime: "2026-07-24T04:00:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293755875.md)
  - [en](https://longbridge.com/en/news/293755875.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293755875.md)
---

# First Hawaiian, Inc. Reports Second Quarter 2026 Financial Results and Declares Dividend | FHB Stock News

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HONOLULU, July 24, 2026 (GLOBE NEWSWIRE) -- First Hawaiian, Inc. (NASDAQ:FHB), (“First Hawaiian” or the “Company”) today reported financial results for its quarter ended June 30, 2026.

"The second quarter was another strong quarter, reflecting the strength of our business model, the disciplined execution by our team and the trust our customers place in us," said Bob Harrison, Chairman, President and Chief Executive Officer. "The announced acquisition of Tri Counties Bank builds on that momentum, bringing together two strong banks with shared values and complementary strengths to better serve our customers and communities while creating long-term value for our shareholders."

On July 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share. The dividend will be payable on August 28, 2026, to stockholders of record at the close of business on August 17, 2026.

**Second Quarter 2026 Highlights:**

-   Net income of $73.4 million, or $0.60 per diluted share
-   Total loans and leases increased $136.5 million versus prior quarter
-   Total deposits decreased $623.2 million versus prior quarter
-   Net interest margin increased 6 basis points to 3.25%
-   Recorded a $5.6 million provision for credit losses
-   Board of Directors declared a quarterly dividend of $0.26 per share

**Balance Sheet**

Total assets were $23.6 billion at June 30, 2026 versus $24.3 billion at March 31, 2026.

Gross loans and leases were $14.6 billion as of June 30, 2026, an increase of $136.5 million from $14.4 billion as of March 31, 2026.

Total deposits were $20.2 billion as of June 30, 2026, a decrease of $623.2 million from $20.8 billion as of March 31, 2026.

**Net Interest Income**

Net interest income for the second quarter of 2026 was $171.0 million, an increase of $3.5 million compared to $167.5 million for the prior quarter.

The net interest margin was 3.25% in the second quarter of 2026, 6 basis points higher than the prior quarter’s margin of 3.19%.

**Provision Expense**

During the quarter ended June 30, 2026, we recorded a $5.6 million provision for credit losses. In the quarter ended March 31, 2026, we recorded a $5.0 million provision for credit losses.

**Noninterest Income**

Noninterest income was $60.3 million in the second quarter of 2026, $7.5 million higher compared to noninterest income of $52.8 million in the prior quarter.

**Noninterest Expense**

Noninterest expense was $130.4 million in the second quarter of 2026, $2.6 million higher compared to noninterest expense of $127.9 million in the prior quarter.

The efficiency ratio was 56.2% and 57.8% for the quarters ended June 30, 2026 and March 31, 2026, respectively.

**Taxes**

The effective tax rate was 22.9% and 22.5% for the quarters ended June 30, 2026 and March 31, 2026, respectively.

**Asset Quality**

The allowance for credit losses was $168.1 million, or 1.15% of total loans and leases, as of June 30, 2026, compared to $169.3 million, or 1.17% of total loans and leases, as of March 31, 2026. The reserve for unfunded commitments was $37.7 million as of June 30, 2026 and $34.9 million as of March 31, 2026. Net charge-offs were $4.1 million, or 0.11% of average loans and leases on an annualized basis, for the quarter ended June 30, 2026, compared to net charge-offs of $4.9 million, or 0.14% of average loans and leases on an annualized basis, for the quarter ended March 31, 2026. Total non-performing assets were $39.5 million, or 0.27% of total loans and leases and other real estate owned, on June 30, 2026, compared to total non-performing assets of $39.7 million, or 0.27% of total loans and leases and other real estate owned, on March 31, 2026.

**Capital**

Total stockholders' equity was $2.8 billion at June 30, 2026 and March 31, 2026.

The tier 1 leverage, common equity tier 1 and total capital ratios were 9.46%, 13.27% and 14.52%, respectively, on June 30, 2026, compared with 9.21%, 13.12% and 14.37%, respectively, on March 31, 2026.

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

**First Hawaiian, Inc.**

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

**Conference Call Information**

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

To access the call by phone, please register via the following link: https://register-conf.media-server.com/register/BIb8e318d9b8d24417b3d7d113fcf80dbc, and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

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

**Forward-Looking Statements**

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

**Use of Non-GAAP Financial Measures**

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

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

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

**Media Contact:**  
Bill Weeshoff  
(808) 525-6229  
bweeshoff@fhb.com  

**Financial Highlights**

**Table 1**

**For the Three Months Ended**

**For the Six Months Ended**

**June 30,**

**March 31,**

**June 30,**

**June 30,**

(dollars in thousands, except per share data)

**2026**

**2026**

**2025**

**2026**

**2025**

**Operating Results:**

Net interest income

**$**

**170,993**

$

167,530

$

163,583

**$**

**338,523**

$

324,109

Provision for credit losses

**5,600**

5,000

4,500

**10,600**

15,000

Noninterest income

**60,281**

52,819

53,958

**113,100**

104,435

Noninterest expense

**130,445**

127,885

124,939

**258,330**

248,499

Net income

**73,375**

67,784

73,247

**141,159**

132,495

Basic earnings per share

**0.60**

0.55

0.58

**1.16**

1.05

Diluted earnings per share

**0.60**

0.55

0.58

**1.15**

1.05

Dividends declared per share

**0.26**

0.26

0.26

**0.52**

0.52

Dividend payout ratio

**43.33**

**%**

47.27

%

44.83

%

**45.22**

**%**

49.52

%

**Performance Ratios****(1)****:**

Net interest margin

**3.25**

**%**

3.19

%

3.11

%

**3.22**

**%**

3.10

%

Efficiency ratio

**56.17**

**%**

57.77

%

57.23

%

**56.95**

**%**

57.71

%

Return on average total assets

**1.23**

**%**

1.14

%

1.23

%

**1.19**

**%**

1.12

%

Return on average tangible assets (non-GAAP)(2)

**1.28**

**%**

1.19

%

1.28

%

**1.24**

**%**

1.17

%

Return on average total stockholders' equity

**10.52**

**%**

9.86

%

11.03

%

**10.19**

**%**

10.07

%

Return on average tangible stockholders' equity (non-GAAP)(2)

**16.34**

**%**

15.33

%

17.61

%

**15.84**

**%**

16.12

%

**Average Balances:**

Average loans and leases

**$**

**14,488,213**

$

14,289,418

$

14,288,918

**$**

**14,389,365**

$

14,299,400

Average earning assets

**21,192,973**

21,332,641

21,167,588

**21,262,421**

21,168,386

Average assets

**23,954,425**

24,083,280

23,859,410

**24,018,496**

23,874,849

Average deposits

**20,483,307**

20,623,573

20,280,042

**20,553,052**

20,316,836

Average stockholders' equity

**2,796,857**

2,788,826

2,663,850

**2,792,863**

2,652,975

**Market Value Per Share:**

Closing

**29.30**

24.64

24.96

**29.30**

24.96

High

**29.63**

28.35

25.09

**29.63**

28.28

Low

**24.50**

23.26

20.32

**23.26**

20.32

**As of**

**As of**

**As of**

**As of**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands, except per share data)

**2026**

**2026**

**2025**

**2025**

**Balance Sheet Data:**

Loans and leases

**$**

**14,577,299**

$

14,440,835

$

14,312,529

$

14,351,869

Total assets

**23,646,049**

24,264,548

23,955,252

23,837,147

Total deposits

**20,154,181**

20,777,353

20,515,668

20,231,419

Short-term borrowings

**—**

—

—

250,000

Total stockholders' equity

**2,826,028**

2,767,760

2,769,365

2,694,545

**Per Share of Common Stock:**

Book value

**$**

**23.22**

$

22.75

$

22.57

$

21.61

Tangible book value (non-GAAP)(2)

**15.04**

14.57

14.46

13.63

**Asset Quality Ratios:**

Non-accrual loans and leases / total loans and leases

**0.27**

**%**

0.27

%

0.29

%

0.20

%

Allowance for credit losses for loans and leases / total loans and leases

**1.15**

**%**

1.17

%

1.18

%

1.17

%

**Capital Ratios:**

Common Equity Tier 1 Capital Ratio

**13.27**

**%**

13.12

%

13.17

%

13.03

%

Tier 1 Capital Ratio

**13.27**

**%**

13.12

%

13.17

%

13.03

%

Total Capital Ratio

**14.52**

**%**

14.37

%

14.42

%

14.28

%

Tier 1 Leverage Ratio

**9.46**

**%**

9.21

%

9.27

%

9.12

%

Total stockholders' equity to total assets

**11.95**

**%**

11.41

%

11.56

%

11.30

%

Tangible stockholders' equity to tangible assets (non-GAAP)(2)

**8.08**

**%**

7.62

%

7.73

%

7.44

%

**Non-Financial Data:**

Number of branches

**49**

49

49

48

Number of ATMs

**274**

273

273

274

Number of Full-Time Equivalent Employees

**1,995**

1,986

1,997

2,006

(1) Except for the efficiency ratio, amounts are annualized for the three and six months ended June 30, 2026 and 2025 and three months ended March 31, 2026.

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

**Consolidated Statements of Income**

**Table 2**

**For the Three Months Ended**

**For the Six Months Ended**

**June 30,**

**March 31,**

**June 30,**

**June 30,**

(dollars in thousands, except per share amounts)

**2026**

**2026**

**2025**

**2026**

**2025**

**Interest income**

Loans and lease financing

**$**

**190,727**

$

186,389

$

193,393

**$**

**377,116**

$

385,495

Available-for-sale investment securities

**15,867**

14,884

12,469

**30,751**

25,619

Held-to-maturity investment securities

**15,121**

15,063

16,299

**30,184**

32,946

Other

**10,652**

13,362

14,578

**24,014**

27,829

Total interest income

**232,367**

229,698

236,739

**462,065**

471,889

**Interest expense**

Deposits

**61,220**

62,064

70,289

**123,284**

141,998

Short-term borrowings

**—**

—

2,627

**—**

5,226

Other

**154**

104

240

**258**

556

Total interest expense

**61,374**

62,168

73,156

**123,542**

147,780

Net interest income

**170,993**

167,530

163,583

**338,523**

324,109

Provision for credit losses

**5,600**

5,000

4,500

**10,600**

15,000

Net interest income after provision for credit losses

**165,393**

162,530

159,083

**327,923**

309,109

**Noninterest income**

Service charges on deposit accounts

**8,316**

8,156

7,830

**16,472**

15,365

Credit and debit card fees

**15,402**

15,083

15,913

**30,485**

30,387

Other service charges and fees

**14,409**

13,784

13,350

**28,193**

25,517

Trust and investment services income

**9,074**

9,146

9,154

**18,220**

18,524

Bank-owned life insurance

**7,069**

4,091

4,724

**11,160**

9,095

Investment securities gains, net

**—**

—

—

**—**

37

Other

**6,011**

2,559

2,987

**8,570**

5,510

Total noninterest income

**60,281**

52,819

53,958

**113,100**

104,435

**Noninterest expense**

Salaries and employee benefits

**62,376**

64,090

59,501

**126,466**

119,605

Contracted services and professional fees

**18,402**

13,964

15,997

**32,366**

30,836

Occupancy

**7,902**

7,816

7,934

**15,718**

16,034

Equipment

**14,563**

14,781

14,037

**29,344**

27,908

Regulatory assessment and fees

**3,417**

3,248

3,759

**6,665**

7,582

Advertising and marketing

**2,178**

2,252

2,035

**4,430**

4,214

Card rewards program

**8,403**

8,404

8,406

**16,807**

16,325

Other

**13,204**

13,330

13,270

**26,534**

25,995

Total noninterest expense

**130,445**

127,885

124,939

**258,330**

248,499

Income before provision for income taxes

**95,229**

87,464

88,102

**182,693**

165,045

Provision for income taxes

**21,854**

19,680

14,855

**41,534**

32,550

**Net income**

**$**

**73,375**

$

67,784

$

73,247

**$**

**141,159**

$

132,495

Basic earnings per share

**$**

**0.60**

$

0.55

$

0.58

**$**

**1.16**

$

1.05

Diluted earnings per share

**$**

**0.60**

$

0.55

$

0.58

**$**

**1.15**

$

1.05

Basic weighted-average outstanding shares

**121,669,238**

122,457,604

125,321,837

**122,061,243**

125,799,060

Diluted weighted-average outstanding shares

**122,339,836**

123,345,708

125,833,064

**122,830,138**

126,493,569

**Consolidated Balance Sheets**

**Table 3**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands, except share amount)

**2026**

**2026**

**2025**

**2025**

**Assets**

Cash and due from banks

**$**

**263,762**

$

225,727

$

228,734

$

304,624

Interest-bearing deposits in other banks

**748,734**

1,493,421

1,249,018

1,094,411

Investment securities:

Available-for-sale, at fair value (amortized cost: $2,275,837 as of June 30, 2026, $2,270,792 as of March 31, 2026, $2,246,716 as of December 31, 2025 and $2,097,906 as of June 30, 2025)

**2,094,699**

2,080,004

2,076,233

1,891,654

Held-to-maturity, at amortized cost (fair value: $3,035,475 as of June 30, 2026, $3,074,133 as of March 31, 2026, $3,188,775 as of December 31, 2025 and $3,230,698 as of June 30, 2025)

**3,411,684**

3,480,022

3,533,082

3,658,814

Loans held for sale

**—**

—

1,370

—

Loans and leases

**14,577,299**

14,440,835

14,312,529

14,351,869

Less: allowance for credit losses

**168,056**

169,318

168,468

167,825

Net loans and leases

**14,409,243**

14,271,517

14,144,061

14,184,044

Premises and equipment, net

**304,025**

302,807

303,496

299,149

Accrued interest receivable

**76,622**

77,286

77,641

77,943

Bank-owned life insurance

**521,137**

514,069

513,182

502,419

Goodwill

**995,492**

995,492

995,492

995,492

Mortgage servicing rights

**4,302**

4,470

4,638

4,828

Other assets

**816,349**

819,733

828,305

823,769

**Total assets**

**$**

**23,646,049**

$

24,264,548

$

23,955,252

$

23,837,147

**Liabilities and Stockholders' Equity**

Deposits:

Interest-bearing

**$**

**13,706,392**

$

14,257,290

$

13,968,376

$

13,386,987

Noninterest-bearing

**6,447,789**

6,520,063

6,547,292

6,844,432

Total deposits

**20,154,181**

20,777,353

20,515,668

20,231,419

Short-term borrowings

**—**

—

—

250,000

Retirement benefits payable

**97,409**

98,220

99,052

95,357

Other liabilities

**568,431**

621,215

571,167

565,826

Total liabilities

**20,820,021**

21,496,788

21,185,887

21,142,602

Stockholders' equity

Common stock ($0.01 par value; authorized 300,000,000 shares; issued/outstanding: 142,661,019 / 121,680,634 shares as of June 30, 2026, 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: 142,173,027 / 124,683,544 shares as of June 30, 2025)

**1,427**

1,426

1,422

1,422

Additional paid-in capital

**2,584,578**

2,580,501

2,576,540

2,567,936

Retained earnings

**1,156,028**

1,114,759

1,078,885

1,000,997

Accumulated other comprehensive loss, net

**(359,793**

**)**

(372,747

)

(368,140

)

(407,008

)

Treasury stock (20,980,385 shares as of June 30, 2026, 20,978,840 shares as of March 31, 2026, 19,495,328 shares as of December 31, 2025 and 17,489,483 shares as of June 30, 2025)

**(556,212**

**)**

(556,179

)

(519,342

)

(468,802

)

Total stockholders' equity

**2,826,028**

2,767,760

2,769,365

2,694,545

**Total liabilities and stockholders' equity**

**$**

**23,646,049**

$

24,264,548

$

23,955,252

$

23,837,147

**Average Balances and Interest Rates**

**Table 4**

**Three Months Ended**

**Three Months Ended**

**Three Months Ended**

**June 30, 2026**

**March 31, 2026**

**June 30, 2025**

**Average**

**Income/**

**Yield/**

**Average**

**Income/**

**Yield/**

**Average**

**Income/**

**Yield/**

(dollars in millions)

**Balance**

**Expense**

**Rate**

**Balance**

**Expense**

**Rate**

**Balance**

**Expense**

**Rate**

**Earning Assets**

Interest-Bearing Deposits in Other Banks

**$**

**1,142.4**

**$**

**10.5**

**3.68**

**%**

$

1,455.0

$

13.2

3.68

%

$

1,276.8

$

14.1

4.45

%

Available-for-Sale Investment Securities

Taxable

**2,081.7**

**15.8**

**3.05**

2,050.7

14.9

2.91

1,869.3

12.5

2.67

Non-Taxable

**0.4**

**—**

**4.42**

0.8

—

4.86

1.3

—

5.27

Held-to-Maturity Investment Securities

Taxable

**2,860.7**

**12.1**

**1.69**

2,916.5

12.0

1.64

3,099.9

13.2

1.70

Non-Taxable

**590.3**

**3.3**

**2.23**

592.6

3.5

2.39

596.5

3.3

2.21

Total Investment Securities

**5,533.1**

**31.2**

**2.26**

5,560.6

30.4

2.19

5,567.0

29.0

2.08

Loans Held for Sale

**0.6**

**—**

**5.68**

0.9

—

5.87

0.3

—

6.86

Loans and Leases(1)

Commercial and industrial

**2,275.4**

**32.3**

**5.69**

2,170.6

30.8

5.75

2,291.5

35.2

6.16

Commercial real estate

**4,736.0**

**67.6**

**5.73**

4,608.4

65.0

5.72

4,392.5

66.9

6.11

Construction

**770.2**

**12.4**

**6.48**

775.5

12.4

6.48

900.4

14.9

6.66

Residential:

Residential mortgage

**4,038.8**

**40.9**

**4.05**

4,081.8

41.0

4.02

4,104.1

40.2

3.92

Home equity line

**1,181.8**

**14.2**

**4.82**

1,175.4

13.7

4.71

1,154.4

13.4

4.64

Consumer

**1,044.1**

**20.1**

**7.74**

1,034.5

20.0

7.84

1,013.9

19.2

7.58

Lease financing

**441.9**

**3.9**

**3.51**

443.2

4.1

3.75

432.1

4.2

3.90

Total Loans and Leases

**14,488.2**

**191.4**

**5.30**

14,289.4

187.0

5.29

14,288.9

194.0

5.44

Other Earning Assets

**28.7**

**0.2**

**2.36**

26.7

0.1

2.52

34.6

0.4

4.94

Total Earning Assets(2)

**21,193.0**

**233.3**

**4.41**

21,332.6

230.7

4.37

21,167.6

237.5

4.50

Cash and Due from Banks

**239.1**

226.4

222.3

Other Assets

**2,522.3**

2,524.3

2,469.5

**Total Assets**

**$**

**23,954.4**

$

24,083.3

$

23,859.4

**Interest-Bearing Liabilities**

Interest-Bearing Deposits

Savings

**$**

**6,407.4**

**$**

**19.6**

**1.23**

**%**

$

6,404.5

$

18.9

1.20

%

$

6,247.5

$

21.0

1.35

%

Money Market

**4,321.3**

**19.5**

**1.81**

4,358.9

19.8

1.84

3,822.1

22.8

2.39

Time

**3,275.3**

**22.1**

**2.71**

3,381.3

23.4

2.80

3,389.4

26.5

3.14

Total Interest-Bearing Deposits

**14,004.0**

**61.2**

**1.75**

14,144.7

62.1

1.78

13,459.0

70.3

2.09

Other Short-Term Borrowings

**—**

**—**

**—**

—

—

—

250.0

2.6

4.22

Other Interest-Bearing Liabilities

**19.5**

**0.2**

**3.16**

12.5

0.1

3.40

20.8

0.2

4.62

**Total Interest-Bearing Liabilities**

**14,023.5**

**61.4**

**1.76**

14,157.2

62.2

1.78

13,729.8

73.1

2.14

**Net Interest Income**

**$**

**171.9**

$

168.5

$

164.4

Interest Rate Spread(3)

**2.65**

**%**

2.59

%

2.36

%

Net Interest Margin(4)

**3.25**

**%**

3.19

%

3.11

%

Noninterest-Bearing Demand Deposits

**6,479.3**

6,478.9

6,821.0

Other Liabilities

**654.7**

658.4

644.7

Stockholders' Equity

**2,796.9**

2,788.8

2,663.9

**Total Liabilities and Stockholders' Equity**

**$**

**23,954.4**

$

24,083.3

$

23,859.4

(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 $0.9 million, $1.0 million and $0.8 million for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively.

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

(4) Net interest margin is net interest income annualized for the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, on a fully taxable-equivalent basis, divided by average total earning assets.

**Average Balances and Interest Rates**

**Table 5**

**Six Months Ended**

**Six Months Ended**

**June 30, 2026**

**June 30, 2025**

**Average**

**Income/**

**Yield/**

**Average**

**Income/**

**Yield/**

(dollars in millions)

**Balance**

**Expense**

**Rate**

**Balance**

**Expense**

**Rate**

**Earning Assets**

Interest-Bearing Deposits in Other Banks

**$**

**1,297.9**

**$**

**23.7**

**3.68**

**%**

$

1,224.3

$

27.0

4.44

%

Available-for-Sale Investment Securities

Taxable

**2,066.3**

**30.7**

**2.98**

1,880.3

25.6

2.73

Non-Taxable

**0.6**

**—**

**4.71**

1.3

—

5.38

Held-to-Maturity Investment Securities

Taxable

**2,888.4**

**24.1**

**1.67**

3,131.8

26.8

1.71

Non-Taxable

**591.4**

**6.8**

**2.31**

597.7

7.0

2.36

Total Investment Securities

**5,546.7**

**61.6**

**2.22**

5,611.1

59.4

2.12

Loans Held for Sale

**0.8**

**—**

**5.79**

0.3

—

6.54

Loans and Leases(1)

Commercial and industrial

**2,223.3**

**63.1**

**5.72**

2,244.4

68.8

6.18

Commercial real estate

**4,672.5**

**132.7**

**5.73**

4,406.3

133.3

6.10

Construction

**772.8**

**24.8**

**6.48**

918.6

30.4

6.67

Residential:

Residential mortgage

**4,060.2**

**81.9**

**4.03**

4,127.1

81.2

3.93

Home equity line

**1,178.6**

**27.8**

**4.76**

1,152.1

26.4

4.62

Consumer

**1,039.4**

**40.1**

**7.79**

1,016.6

38.1

7.56

Lease financing

**442.6**

**8.0**

**3.63**

434.3

8.5

3.95

Total Loans and Leases

**14,389.4**

**378.4**

**5.29**

14,299.4

386.7

5.44

Other Earning Assets

**27.6**

**0.3**

**2.44**

33.3

0.8

5.20

Total Earning Assets(2)

**21,262.4**

**464.0**

**4.39**

21,168.4

473.9

4.50

Cash and Due from Banks

**232.8**

229.0

Other Assets

**2,523.3**

2,477.4

**Total Assets**

**$**

**24,018.5**

$

23,874.8

**Interest-Bearing Liabilities**

Interest-Bearing Deposits

Savings

**$**

**6,406.0**

**$**

**38.5**

**1.21**

**%**

$

6,240.1

$

42.2

1.36

%

Money Market

**4,340.0**

**39.3**

**1.83**

3,871.8

45.8

2.38

Time

**3,328.0**

**45.5**

**2.76**

3,353.5

54.0

3.25

Total Interest-Bearing Deposits

**14,074.0**

**123.3**

**1.77**

13,465.4

142.0

2.13

Other Short-Term Borrowings

**—**

**—**

**—**

250.0

5.2

4.22

Other Interest-Bearing Liabilities

**16.0**

**0.2**

**3.25**

24.1

0.6

4.65

**Total Interest-Bearing Liabilities**

**14,090.0**

**123.5**

**1.77**

13,739.5

147.8

2.17

**Net Interest Income**

**$**

**340.5**

$

326.1

Interest Rate Spread(3)

**2.62**

**%**

2.33

%

Net Interest Margin(4)

**3.22**

**%**

3.10

%

Noninterest-Bearing Demand Deposits

**6,479.1**

6,851.4

Other Liabilities

**656.5**

630.9

Stockholders' Equity

**2,792.9**

2,653.0

**Total Liabilities and Stockholders' Equity**

**$**

**24,018.5**

$

23,874.8

(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 $2.0 million for both the six months ended June 30, 2026 and 2025.

(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 six months ended June 30, 2026 and 2025, on a fully taxable-equivalent basis, divided by average total earning assets.

**Analysis of Change in Net Interest Income**

**Table 6**

**Three Months Ended June 30, 2026**

**Compared to March 31, 2026**

(dollars in millions)

**Volume**

**Rate**

**Total****(1)**

**Change in Interest Income:**

Interest-Bearing Deposits in Other Banks

**$**

**(2.7**

**)**

**$**

**—**

**$**

**(2.7**

**)**

Available-for-Sale Investment Securities

Taxable

**0.2**

**0.7**

**0.9**

Held-to-Maturity Investment Securities

Taxable

**(0.2**

**)**

**0.3**

**0.1**

Non-Taxable

**—**

**(0.2**

**)**

**(0.2**

**)**

Total Investment Securities

**—**

**0.8**

**0.8**

Loans and Leases

Commercial and industrial

**1.8**

**(0.3**

**)**

**1.5**

Commercial real estate

**2.4**

**0.2**

**2.6**

Residential:

Residential mortgage

**(0.4**

**)**

**0.3**

**(0.1**

**)**

Home equity line

**0.1**

**0.4**

**0.5**

Consumer

**0.2**

**(0.1**

**)**

**0.1**

Lease financing

**—**

**(0.2**

**)**

**(0.2**

**)**

Total Loans and Leases

**4.1**

**0.3**

**4.4**

Other Earning Assets

**0.1**

**—**

**0.1**

**Total Change in Interest Income**

**1.5**

**1.1**

**2.6**

**Change in Interest Expense:**

Interest-Bearing Deposits

Savings

**—**

**0.7**

**0.7**

Money Market

**(0.1**

**)**

**(0.2**

**)**

**(0.3**

**)**

Time

**(0.6**

**)**

**(0.7**

**)**

**(1.3**

**)**

Total Interest-Bearing Deposits

**(0.7**

**)**

**(0.2**

**)**

**(0.9**

**)**

Other Interest-Bearing Liabilities

**0.1**

**—**

**0.1**

**Total Change in Interest Expense**

**(0.6**

**)**

**(0.2**

**)**

**(0.8**

**)**

**Change in Net Interest Income**

**$**

**2.1**

**$**

**1.3**

**$**

**3.4**

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

**Analysis of Change in Net Interest Income**

**Table 7**

**Three Months Ended June 30, 2026**

**Compared to June 30, 2025**

(dollars in millions)

**Volume**

**Rate**

**Total****(1)**

**Change in Interest Income:**

Interest-Bearing Deposits in Other Banks

**$**

**(1.4**

**)**

**$**

**(2.2**

**)**

**$**

**(3.6**

**)**

Available-for-Sale Investment Securities

Taxable

**1.4**

**1.9**

**3.3**

Held-to-Maturity Investment Securities

Taxable

**(1.0**

**)**

**(0.1**

**)**

**(1.1**

**)**

Total Investment Securities

**0.4**

**1.8**

**2.2**

Loans and Leases

Commercial and industrial

**(0.2**

**)**

**(2.7**

**)**

**(2.9**

**)**

Commercial real estate

**5.0**

**(4.3**

**)**

**0.7**

Construction

**(2.1**

**)**

**(0.4**

**)**

**(2.5**

**)**

Residential:

Residential mortgage

**(0.6**

**)**

**1.3**

**0.7**

Home equity line

**0.3**

**0.5**

**0.8**

Consumer

**0.5**

**0.4**

**0.9**

Lease financing

**0.1**

**(0.4**

**)**

**(0.3**

**)**

Total Loans and Leases

**3.0**

**(5.6**

**)**

**(2.6**

**)**

Other Earning Assets

**—**

**(0.2**

**)**

**(0.2**

**)**

**Total Change in Interest Income**

**2.0**

**(6.2**

**)**

**(4.2**

**)**

**Change in Interest Expense:**

Interest-Bearing Deposits

Savings

**0.5**

**(1.9**

**)**

**(1.4**

**)**

Money Market

**2.7**

**(6.0**

**)**

**(3.3**

**)**

Time

**(0.9**

**)**

**(3.5**

**)**

**(4.4**

**)**

Total Interest-Bearing Deposits

**2.3**

**(11.4**

**)**

**(9.1**

**)**

Other Short-Term Borrowings

**(1.3**

**)**

**(1.3**

**)**

**(2.6**

**)**

**Total Change in Interest Expense**

**1.0**

**(12.7**

**)**

**(11.7**

**)**

**Change in Net Interest Income**

**$**

**1.0**

**$**

**6.5**

**$**

**7.5**

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

**Analysis of Change in Net Interest Income**

**Table 8**

**Six Months Ended June 30, 2026**

**Compared to June 30, 2025**

(dollars in millions)

**Volume**

**Rate**

**Total****(1)**

**Change in Interest Income:**

Interest-Bearing Deposits in Other Banks

**$**

**1.5**

**$**

**(4.8**

**)**

**$**

**(3.3**

**)**

Available-for-Sale Investment Securities

Taxable

**2.6**

**2.5**

**5.1**

Held-to-Maturity Investment Securities

Taxable

**(2.1**

**)**

**(0.6**

**)**

**(2.7**

**)**

Non-Taxable

**(0.1**

**)**

**(0.1**

**)**

**(0.2**

**)**

Total Investment Securities

**0.4**

**1.8**

**2.2**

Loans and Leases

Commercial and industrial

**(0.6**

**)**

**(5.1**

**)**

**(5.7**

**)**

Commercial real estate

**7.8**

**(8.4**

**)**

**(0.6**

**)**

Construction

**(4.7**

**)**

**(0.9**

**)**

**(5.6**

**)**

Residential:

Residential mortgage

**(1.3**

**)**

**2.0**

**0.7**

Home equity line

**0.6**

**0.8**

**1.4**

Consumer

**0.8**

**1.2**

**2.0**

Lease financing

**0.2**

**(0.7**

**)**

**(0.5**

**)**

Total Loans and Leases

**2.8**

**(11.1**

**)**

**(8.3**

**)**

Other Earning Assets

**(0.1**

**)**

**(0.4**

**)**

**(0.5**

**)**

**Total Change in Interest Income**

**4.6**

**(14.5**

**)**

**(9.9**

**)**

**Change in Interest Expense:**

Interest-Bearing Deposits

Savings

**1.1**

**(4.8**

**)**

**(3.7**

**)**

Money Market

**5.0**

**(11.5**

**)**

**(6.5**

**)**

Time

**(0.4**

**)**

**(8.1**

**)**

**(8.5**

**)**

Total Interest-Bearing Deposits

**5.7**

**(24.4**

**)**

**(18.7**

**)**

Other Short-Term Borrowings

**(2.6**

**)**

**(2.6**

**)**

**(5.2**

**)**

Other Interest-Bearing Liabilities

**(0.2**

**)**

**(0.2**

**)**

**(0.4**

**)**

**Total Change in Interest Expense**

**2.9**

**(27.2**

**)**

**(24.3**

**)**

**Change in Net Interest Income**

**$**

**1.7**

**$**

**12.7**

**$**

**14.4**

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

**Loans and Leases**

**Table 9**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands)

**2026**

**2026**

**2025**

**2025**

Commercial and industrial

**$**

**2,339,882**

$

2,241,882

$

2,171,333

$

2,370,210

Commercial real estate

**4,783,130**

4,715,741

4,590,326

4,411,585

Construction

**731,766**

769,302

808,275

884,306

Residential:

Residential mortgage

**4,044,207**

4,063,933

4,096,300

4,085,827

Home equity line

**1,181,396**

1,176,228

1,178,527

1,161,876

Total residential

**5,225,603**

5,240,161

5,274,827

5,247,703

Consumer

**1,046,461**

1,030,002

1,025,838

1,011,125

Lease financing

**450,457**

443,747

441,930

426,940

**Total loans and leases**

**$**

**14,577,299**

$

14,440,835

$

14,312,529

$

14,351,869

**Deposits**

**Table 10**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands)

**2026**

**2026**

**2025**

**2025**

Demand

**$**

**6,447,789**

$

6,520,063

$

6,547,292

$

6,844,432

Savings

**6,132,746**

6,566,192

6,308,873

6,219,801

Money Market

**4,283,982**

4,310,474

4,289,370

3,777,681

Time

**3,289,664**

3,380,624

3,370,133

3,389,505

**Total Deposits**

**$**

**20,154,181**

$

20,777,353

$

20,515,668

$

20,231,419

**Non-Performing Assets and Accruing Loans and Leases Past Due 90 Days or More**

**Table 11**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands)

**2026**

**2026**

**2025**

**2025**

**Non-Performing Assets**

Non-Accrual Loans and Leases

Commercial Loans:

Commercial and industrial

**$**

**4,054**

$

4,960

$

8,805

$

1,184

Commercial real estate

**2,879**

2,952

3,007

3,185

Construction

**1,788**

1,788

1,788

904

Lease financing

**680**

691

734

—

Total Commercial Loans

**9,401**

10,391

14,334

5,273

Residential Loans:

Residential mortgage

**18,675**

17,665

16,423

15,032

Home equity line

**11,425**

11,624

10,271

8,286

Total Residential Loans

**30,100**

29,289

26,694

23,318

Total Non-Accrual Loans and Leases

**39,501**

39,680

41,028

28,591

**Total Non-Performing Assets**

**$**

**39,501**

$

39,680

$

41,028

$

28,591

**Accruing Loans and Leases Past Due 90 Days or More**

Commercial and industrial

**$**

**249**

$

715

$

318

$

942

Residential mortgage

**771**

9

55

309

Consumer

**3,073**

3,620

2,984

3,187

**Total Accruing Loans and Leases Past Due 90 Days or More**

**$**

**4,093**

$

4,344

$

3,357

$

4,438

**Total Loans and Leases**

**$**

**14,577,299**

$

14,440,835

$

14,312,529

$

14,351,869

**Allowance for Credit Losses and Reserve for Unfunded Commitments**

**Table 12**

**For the Three Months Ended**

**For the Six Months Ended**

**June 30,**

**March 31,**

**June 30,**

**June 30,**

**June 30,**

(dollars in thousands)

**2026**

**2026**

**2025**

**2026**

**2025**

**Balance at Beginning of Period**

**$**

**204,265**

$

204,165

$

199,959

**$**

**204,165**

$

193,240

Loans and Leases Charged-Off

Commercial Loans:

Commercial and industrial

**(769**

**)**

(2,625

)

(688

)

**(3,394**

**)**

(2,147

)

Lease financing

**—**

—

(82

)

**—**

(82

)

Total Commercial Loans

**(769**

**)**

(2,625

)

(770

)

**(3,394**

**)**

(2,229

)

Home equity line

**(23**

**)**

—

(16

)

**(23**

**)**

(30

)

Consumer

**(5,490**

**)**

(4,844

)

(4,543

)

**(10,334**

**)**

(9,568

)

**Total Loans and Leases Charged-Off**

**(6,282**

**)**

(7,469

)

(5,329

)

**(13,751**

**)**

(11,827

)

Recoveries on Loans and Leases Previously Charged-Off

Commercial Loans:

Commercial and industrial

**281**

266

196

**547**

599

Commercial real estate

**—**

—

—

**—**

251

Lease financing

**—**

3

—

**3**

—

Total Commercial Loans

**281**

269

196

**550**

850

Residential Loans:

Residential mortgage

**16**

13

109

**29**

129

Home equity line

**28**

39

32

**67**

96

Total Residential Loans

**44**

52

141

**96**

225

Consumer

**1,820**

2,248

1,705

**4,068**

3,684

**Total Recoveries on Loans and Leases Previously Charged-Off**

**2,145**

2,569

2,042

**4,714**

4,759

Net Loans and Leases Charged-Off

**(4,137**

**)**

(4,900

)

(3,287

)

**(9,037**

**)**

(7,068

)

Provision for Credit Losses

**5,600**

5,000

4,500

**10,600**

15,000

**Balance at End of Period**

**$**

**205,728**

$

204,265

$

201,172

**$**

**205,728**

$

201,172

Components:

Allowance for Credit Losses

**$**

**168,056**

$

169,318

$

167,825

**$**

**168,056**

$

167,825

Reserve for Unfunded Commitments

**37,672**

34,947

33,347

**37,672**

33,347

Total Allowance for Credit Losses and Reserve for Unfunded Commitments

**$**

**205,728**

$

204,265

$

201,172

**$**

**205,728**

$

201,172

Average Loans and Leases Outstanding

**$**

**14,488,213**

$

14,289,418

$

14,288,918

**$**

**14,389,365**

$

14,299,400

Ratio of Net Loans and Leases Charged-Off to Average Loans and Leases Outstanding(1)

**0.11**

**%**

0.14

%

0.09

%

**0.13**

**%**

0.10

%

Ratio of Allowance for Credit Losses for Loans and Leases to Loans and Leases Outstanding

**1.15**

**%**

1.17

%

1.17

%

**1.15**

**%**

1.17

%

Ratio of Allowance for Credit Losses for Loans and Leases to Non-accrual Loans and Leases

**4.25x**

4.27x

5.87x

**4.25x**

5.87x

(1) Annualized for the three and six months ended June 30, 2026 and 2025 and three months ended March 31, 2026.  

**Loans and Leases by Year of Origination and Credit Quality Indicator**

**Table 13**

**Revolving**

**Loans**

**Converted**

**Term Loans**

**Revolving**

**to Term**

**Amortized Cost Basis by Origination Year**

**Loans**

**Loans**

**Amortized**

**Amortized**

(dollars in thousands)

**2026**

**2025**

**2024**

**2023**

**2022**

**Prior**

**Cost Basis**

**Cost Basis**

**Total**

**Commercial Lending**

**Commercial and Industrial**

Risk rating:

Pass

**$**

**121,498**

**$**

**265,147**

**$**

**116,522**

**$**

**63,411**

**$**

**57,461**

**$**

**302,522**

**$**

**1,229,183**

**$**

**30,382**

**$**

**2,186,126**

Special Mention

**439**

**6,038**

**692**

**1,689**

**2,473**

**807**

**8,308**

**—**

**20,446**

Substandard

**145**

**687**

**2,334**

**376**

**2,998**

**18,736**

**15,143**

**—**

**40,419**

Other(1)

**11,798**

**14,486**

**7,222**

**3,453**

**2,601**

**1,743**

**51,588**

**—**

**92,891**

Total Commercial and Industrial

**133,880**

**286,358**

**126,770**

**68,929**

**65,533**

**323,808**

**1,304,222**

**30,382**

**2,339,882**

Current period gross charge-offs

**—**

**84**

**46**

**—**

**10**

**1,392**

**1,862**

**—**

**3,394**

**Commercial Real Estate**

Risk rating:

Pass

**439,619**

**723,674**

**369,595**

**404,872**

**658,129**

**1,814,129**

**117,006**

**6,353**

**4,533,377**

Special Mention

**—**

**—**

**3,623**

**1,652**

**104,548**

**71,474**

**2,376**

**—**

**183,673**

Substandard

**969**

**—**

**5,309**

**695**

**37,564**

**16,219**

**5,207**

**—**

**65,963**

Other(1)

**—**

**—**

**—**

**—**

**—**

**117**

**—**

**—**

**117**

Total Commercial Real Estate

**440,588**

**723,674**

**378,527**

**407,219**

**800,241**

**1,901,939**

**124,589**

**6,353**

**4,783,130**

Current period gross charge-offs

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**Construction**

Risk rating:

Pass

**55,488**

**124,793**

**219,701**

**61,476**

**169,561**

**31,308**

**44,234**

**—**

**706,561**

Special Mention

**—**

**—**

**—**

**—**

**—**

**904**

**—**

**—**

**904**

Other(1)

**3,050**

**7,895**

**5,419**

**3,773**

**1,723**

**1,762**

**679**

**—**

**24,301**

Total Construction

**58,538**

**132,688**

**225,120**

**65,249**

**171,284**

**33,974**

**44,913**

**—**

**731,766**

Current period gross charge-offs

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**Lease Financing**

Risk rating:

Pass

**94,390**

**63,777**

**77,896**

**84,839**

**35,648**

**92,657**

**—**

**—**

**449,207**

Special Mention

**—**

**—**

**77**

**419**

**74**

**—**

**—**

**—**

**570**

Substandard

**—**

**—**

**680**

**—**

**—**

**—**

**—**

**—**

**680**

Total Lease Financing

**94,390**

**63,777**

**78,653**

**85,258**

**35,722**

**92,657**

**—**

**—**

**450,457**

Current period gross charge-offs

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**Total Commercial Lending**

**$**

**727,396**

**$**

**1,206,497**

**$**

**809,070**

**$**

**626,655**

**$**

**1,072,780**

**$**

**2,352,378**

**$**

**1,473,724**

**$**

**36,735**

**$**

**8,305,235**

Current period gross charge-offs

**$**

**—**

**$**

**84**

**$**

**46**

**$**

**—**

**$**

**10**

**$**

**1,392**

**$**

**1,862**

**$**

**—**

**$**

**3,394**

(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

**$**

**118,185**

**$**

**192,744**

**$**

**132,076**

**$**

**163,841**

**$**

**426,056**

**$**

**2,240,745**

**$**

**—**

**$**

**—**

**$**

**3,273,647**

680 - 739

**13,300**

**21,120**

**19,686**

**27,538**

**62,622**

**267,910**

**—**

**—**

**412,176**

620 - 679

**6,310**

**3,842**

**5,882**

**4,488**

**28,030**

**68,426**

**—**

**—**

**116,978**

550 - 619

**—**

**2,487**

**1,953**

**1,251**

**2,653**

**22,325**

**—**

**—**

**30,669**

Less than 550

**—**

**—**

**—**

**1,143**

**3,504**

**14,639**

**—**

**—**

**19,286**

No Score(3)

**7,172**

**6,764**

**3,098**

**4,753**

**15,334**

**49,997**

**—**

**—**

**87,118**

Other(2)

**2,645**

**22,254**

**7,104**

**11,039**

**13,174**

**40,616**

**7,501**

**—**

**104,333**

Total Residential Mortgage

**147,612**

**249,211**

**169,799**

**214,053**

**551,373**

**2,704,658**

**7,501**

**—**

**4,044,207**

Current period gross charge-offs

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**—**

**Home Equity Line**

FICO:

740 and greater

**—**

**—**

**—**

**—**

**—**

**—**

**938,399**

**343**

**938,742**

680 - 739

**—**

**—**

**—**

**—**

**—**

**—**

**171,860**

**1,294**

**173,154**

620 - 679

**—**

**—**

**—**

**—**

**—**

**—**

**42,343**

**785**

**43,128**

550 - 619

**—**

**—**

**—**

**—**

**—**

**—**

**13,793**

**624**

**14,417**

Less than 550

**—**

**—**

**—**

**—**

**—**

**—**

**11,162**

**30**

**11,192**

No Score(3)

**—**

**—**

**—**

**—**

**—**

**—**

**763**

**—**

**763**

Total Home Equity Line

**—**

**—**

**—**

**—**

**—**

**—**

**1,178,320**

**3,076**

**1,181,396**

Current period gross charge-offs

**—**

**—**

**—**

**—**

**—**

**—**

**23**

**—**

**23**

**Total Residential Lending**

**$**

**147,612**

**$**

**249,211**

**$**

**169,799**

**$**

**214,053**

**$**

**551,373**

**$**

**2,704,658**

**$**

**1,185,821**

**$**

**3,076**

**$**

**5,225,603**

Current period gross charge-offs

**$**

**—**

**$**

**—**

**$**

**—**

**$**

**—**

**$**

**—**

**$**

**—**

**$**

**23**

**$**

**—**

**$**

**23**

**Consumer Lending**

FICO:

740 and greater

**$**

**60,328**

**$**

**93,986**

**$**

**54,390**

**$**

**34,205**

**$**

**35,359**

**$**

**12,947**

**$**

**99,798**

**$**

**56**

**$**

**391,069**

680 - 739

**49,967**

**75,396**

**37,212**

**20,373**

**17,060**

**7,497**

**85,511**

**556**

**293,572**

620 - 679

**30,116**

**38,437**

**16,008**

**9,023**

**9,299**

**4,877**

**51,080**

**896**

**159,736**

550 - 619

**6,036**

**12,294**

**8,393**

**5,766**

**5,734**

**3,529**

**17,345**

**845**

**59,942**

Less than 550

**1,239**

**5,754**

**4,578**

**2,826**

**2,807**

**1,750**

**5,927**

**537**

**25,418**

No Score(3)

**2,691**

**332**

**4**

**22**

**—**

**15**

**35,963**

**165**

**39,192**

Other(2)

**201**

**3,921**

**—**

**—**

**—**

**1,485**

**71,925**

**—**

**77,532**

**Total Consumer Lending**

**$**

**150,578**

**$**

**230,120**

**$**

**120,585**

**$**

**72,215**

**$**

**70,259**

**$**

**32,100**

**$**

**367,549**

**$**

**3,055**

**$**

**1,046,461**

Current period gross charge-offs

**$**

**60**

**$**

**1,689**

**$**

**1,147**

**$**

**827**

**$**

**532**

**$**

**1,262**

**$**

**4,447**

**$**

**370**

**$**

**10,334**

**Total Loans and Leases**

**$**

**1,025,586**

**$**

**1,685,828**

**$**

**1,099,454**

**$**

**912,923**

**$**

**1,694,412**

**$**

**5,089,136**

**$**

**3,027,094**

**$**

**42,866**

**$**

**14,577,299**

Current period gross charge-offs

**$**

**60**

**$**

**1,773**

**$**

**1,193**

**$**

**827**

**$**

**542**

**$**

**2,654**

**$**

**6,332**

**$**

**370**

**$**

**13,751**

(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 June 30, 2026, the majority of the loans in this population were current.

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

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

**GAAP to Non-GAAP Reconciliation**

**Table 14**

**For the Three Months Ended**

**For the Six Months Ended**

**June 30,**

**March 31,**

**June 30,**

**June 30,**

(dollars in thousands)

**2026**

**2026**

**2025**

**2026**

**2025**

**Income Statement Data:**

Net income

**$**

**73,375**

$

67,784

$

73,247

**$**

**141,159**

$

132,495

Average total stockholders' equity

**$**

**2,796,857**

$

2,788,826

$

2,663,850

**$**

**2,792,863**

$

2,652,975

Less: average goodwill

**995,492**

995,492

995,492

**995,492**

995,492

Average tangible stockholders' equity

**$**

**1,801,365**

$

1,793,334

$

1,668,358

**$**

**1,797,371**

$

1,657,483

Average total assets

**$**

**23,954,425**

$

24,083,280

$

23,859,410

**$**

**24,018,496**

$

23,874,849

Less: average goodwill

**995,492**

995,492

995,492

**995,492**

995,492

Average tangible assets

**$**

**22,958,933**

$

23,087,788

$

22,863,918

**$**

**23,023,004**

$

22,879,357

Return on average total stockholders' equity(1)

**10.52**

**%**

9.86

%

11.03

%

**10.19**

**%**

10.07

%

Return on average tangible stockholders' equity (non-GAAP)(1)

**16.34**

**%**

15.33

%

17.61

%

**15.84**

**%**

16.12

%

Return on average total assets(1)

**1.23**

**%**

1.14

%

1.23

%

**1.19**

**%**

1.12

%

Return on average tangible assets (non-GAAP)(1)

**1.28**

**%**

1.19

%

1.28

%

**1.24**

**%**

1.17

%

**As of**

**As of**

**As of**

**As of**

**June 30,**

**March 31,**

**December 31,**

**June 30,**

(dollars in thousands, except per share amounts)

**2026**

**2026**

**2025**

**2025**

**Balance Sheet Data:**

Total stockholders' equity

**$**

**2,826,028**

$

2,767,760

$

2,769,365

$

2,694,545

Less: goodwill

**995,492**

995,492

995,492

995,492

Tangible stockholders' equity

**$**

**1,830,536**

$

1,772,268

$

1,773,873

$

1,699,053

Total assets

**$**

**23,646,049**

$

24,264,548

$

23,955,252

$

23,837,147

Less: goodwill

**995,492**

995,492

995,492

995,492

Tangible assets

**$**

**22,650,557**

$

23,269,056

$

22,959,760

$

22,841,655

Shares outstanding

**121,680,634**

121,648,973

122,689,256

124,683,544

Total stockholders' equity to total assets

**11.95**

**%**

11.41

%

11.56

%

11.30

%

Tangible stockholders' equity to tangible assets (non-GAAP)

**8.08**

**%**

7.62

%

7.73

%

7.44

%

Book value per share

**$**

**23.22**

$

22.75

$

22.57

$

21.61

Tangible book value per share (non-GAAP)

**$**

**15.04**

$

14.57

$

14.46

$

13.63

(1) Annualized for the three and six months ended June 30, 2026 and 2025 and three months ended March 31, 2026.

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