Central Bancompany, Inc.NASDAQ: CBC

Central Bancompany, Inc. Reports Third Quarter 2026 Results

· Issued by Central Bancompany, Inc. via GlobeNewswire

Key figures

  • Average total loans held for investment of $11.7 billion, quarterly increase of $0.1 billion, or 3.2% annualized, from the prior quarter
  • Average total deposits of $15.4 billion, an increase of $0.6 billion or 4.4% from prior year quarter
  • Return on average assets (“ROAA”) of 2.27%
  • Efficiency ratio of 45.9% and efficiency ratio (FTE) of 45.4%
  • Asset quality remained strong, with nonperforming assets at 33 bps of total assets and annualized net charge-offs of 12 bps for the quarter

On 6ix: 6ix.com/news/central-bancompany-inc-reports-third-quarter-2026-results

Third Quarter 2026 Financial Highlights

  • Net income of $116.2 million, or $0.48 per fully diluted share, compared to $113.8 million and $0.47 in the prior quarter and $97.1 million, or $0.44 in the prior year quarter
  • Net interest income of $218.9 million, reflecting a net interest margin (“NIM”) of 4.48% compared to 4.40% in the prior quarter and 4.36% in the prior year quarter
  • Average total loans held for investment of $11.7 billion, quarterly increase of $0.1 billion, or 3.2% annualized, from the prior quarter
  • Average total deposits of $15.4 billion, an increase of $0.6 billion or 4.4% from prior year quarter
  • Return on average assets (“ROAA”) of 2.27%
  • Efficiency ratio of 45.9% and efficiency ratio (FTE)1 of 45.4%
  • Asset quality remained strong, with nonperforming assets at 33 bps of total assets and annualized net charge-offs of 12 bps for the quarter

JEFFERSON CITY, Mo., Oct. 27, 2026 (GLOBE NEWSWIRE) -- Central Bancompany, Inc. (Nasdaq: CBC) (“Central Bancompany”, “the Company”, or “CBC”), the bank holding company for The Central Trust Bank (the “Bank”), today announced preliminary financial results for the third quarter 2026.

John “JR” Ross, President and Chief Executive Officer of Central Bancompany, commented: “We delivered another strong quarter, supported by continued balance sheet growth, disciplined expense management, and solid credit quality. Adjusted net income1 increased $13.7 million from a year ago and $2.8 million from the prior quarter. Year-over-year performance reflected growth in net interest income and noninterest income that outpaced expense growth, while linked-quarter results benefited from continued net interest margin expansion and higher net interest income driven by our asset-sensitive balance sheet. These favorable trends were partially offset by lower mortgage banking revenues.”

Ross continued, “Underlying business fundamentals remained healthy across our franchise. Average total deposits increased more than 4% from the prior-year quarter, including 6% growth in noninterest-bearing deposits, while average loans grew at an annualized rate of more than 3% from the prior quarter despite our continued focus on reducing certain consumer loan balances. Credit quality remained benign, and we maintained our allowance for credit losses coverage ratio while modestly increasing the overall reserve balance to support loan growth.”

“We also continue to align our leadership talent with our strongest growth opportunities. Matthew Adams has been named President and CEO of our Oklahoma market, and Brandy Bryant, formerly a Mid-Missouri market CEO, has assumed a new enterprise leadership role focused on consumer and small business credit products and processes. Both are accomplished leaders with more than 20 years of experience with our company and are well positioned to support continued growth and execution across our franchise.”

“These results reflect the resilience of our business model, the strength of our customer relationships, and the dedication of our associates across all of our markets.”

Net Interest Income and Net Interest Margin

Net interest income totaled $218.9 million in the third quarter of 2026, increasing from both the prior year period and prior quarter, reflecting growth in average earning assets and expansion in net interest margin. Net interest margin increased to 4.48% (4.51% on an FTE basis1), compared with 4.36% in the prior year quarter and 4.40% in the second quarter of 2026. The increase was driven by higher loan and securities yields, continued loan growth, a favorable earning asset mix, and lower balances of interest-earning cash.

Average earning assets grew 7.1% year-over-year to $19.4 billion, supported by solid deposit growth and higher capital levels. Average total loans held for investment increased to $11.7 billion, with broad based growth across core lending categories. Period-end loans exceeded the quarterly average by $54 million, providing positive momentum entering the fourth quarter.

Average total deposits grew 4% year-over-year to $15.4 billion, driven by continued growth in both noninterest-bearing and interest-bearing non-maturity deposits. The cost of deposits improved to 1.11%, down 8 basis points from the prior year quarter and stable with the linked quarter.

Provision for credit losses

The provision for credit losses was $4.0 million for the third quarter of 2026, an increase of 14.2% from the prior quarter driven primarily by loan growth. The allowance for credit losses ended the quarter at $150.9 million, up slightly from the prior quarter end and representing 1.29% of loans held for investment. The allowance rate reflects continued stable credit quality trends and an ongoing shift in portfolio composition toward higher credit quality loans.

Noninterest income

Total noninterest income was $66.8 million for the third quarter of 2026, an increase of $9.7 million or 17.0% from the prior year quarter. Adjusted noninterest income1 was $66.6 million, reflecting 4.0% growth year-over-year, consistent with our steady fee income expansion.

Wealth management services remained a key growth driver, with revenues increasing $3.4 million, or 16.7%, year-over-year to $23.6 million, supported by 13.8% growth in assets under advice to $17.5 billion. Service charges and commissions and payment services revenue also contributed positively, growing 3.3% and 4.0% year-over-year, respectively.

Mortgage banking revenues declined $1.5 million, or 14.3%, year-over-year to $8.8 million, attributable to reduced origination volumes in the higher interest rate environment.

The fee income ratio remained strong at 23.4% for the third quarter of 2026, despite the 10.0% increase in net interest income year-over-year.

Noninterest expense

Total noninterest expense was $131.0 million for the third quarter of 2026, an increase of $4.0 million, or 3.2% compared to the third quarter of 2025. Expense growth remained well below our revenue growth rate, reflecting continued expense discipline and positive operating leverage.

Salaries and employee benefits totaled $80.0 million, remaining stable compared with the prior quarter while increasing $4.7 million, or 6.3%, from the prior year quarter, primarily due to annual merit increases and higher performance-based compensation. This increase was partially offset by lower non-personnel expenses, including legal and professional fees, which declined $0.9 million, or 13.9%, reflecting lower technology consulting costs compared to the prior year quarter. Occupancy and technology expenses also declined modestly from the prior year period.

The efficiency ratio (FTE)1 improved to 45.4% for the third quarter of 2026, compared to 46.1% in the prior quarter and 47.7% in the third quarter of 2025, reflecting our ability to grow revenues at a faster rate than expenses.

Provision for income taxes

The third quarter 2026 provision for income taxes was $34.4 million, up $0.7 million from the second quarter of 2026 and $5.9 million from the third quarter of 2025, reflecting higher pre-tax earnings. The effective tax rate was 22.8% for the current quarter, generally consistent with prior periods.

1 This is a non-GAAP financial measure management believes is helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measure. Further information on this financial measure and a reconciliation to the most comparable GAAP financial measure is provided at the end of this release.

Asset quality

Asset quality remained strong. Nonperforming assets at September 30, 2026 were $66.0 million, or 33 basis points of total assets, up only slightly from 30 basis points at the end of the prior year quarter. Net charge-offs were $3.6 million for the quarter, 12 basis points (annualized) of average total loans. Credit costs remained in line with prior quarters.

Delinquent loans at September 30, 2026 were $27.6 million, or 24 basis points of loans held for investment, as compared to 21 basis points at the end of the prior year quarter.

Capital

Capital levels at September 30, 2026 remained very strong. Our CET1 ratio was 29.1% and represented $2.0 billion of excess capital when compared to our long-term CET1 target of 13.5%. The Bank’s CET1 ratio was 13.4% at September 30, 2026. The difference in the consolidated capital ratio and the capital ratio at the Bank represents capital that is readily available to be deployed.

Our book value per share at September 30, 2026 was $16.04, whereas our tangible book value per share1 was $14.58, of which $6.30 per share represents core tangible book value1, with the remaining $8.28 per share attributable to excess capital.

Conference Call and Webcast Information

The Company will host a conference call and webcast at 9:00 a.m. CT on Tuesday, October 27, 2026. The call may include discussion of Company developments, forward-looking statements and other material information about business and financial matters. This press release and a related slide presentation will be accessible on the Company’s investor relations website https://investor.centralbank.net. The call can be accessed via this same website or by using the following link: https://edge.media-server.com/mmc/p/oysdru7q/. A recorded replay of the conference call will be available on the website after the call’s completion.

About Central Bancompany, Inc.

Central Bancompany, Inc. is a bank holding company headquartered in Jefferson City, Missouri, with approximately $20.2 billion in assets as of September 30, 2026. Its banking subsidiary, The Central Trust Bank, has been serving businesses and customers since 1902. The bank is built on a strong foundation of people, community service, and technology. The Central Trust Bank is a Missouri state-chartered trust company with banking powers and a Federal Reserve state member bank, serving consumers and businesses in Missouri, Kansas, Oklahoma, Colorado, and Florida. Divisions of The Central Trust Bank include Central Trust Company and Central Investment Advisors.

Non-GAAP Financial Information

In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (“GAAP”) and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures and the nearest comparable GAAP financial measures are reconciled later in this release. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other variations or comparable terminology and expressions. All statements other than statements of historical facts contained in this press release are forward-looking statements. We have based the forward-looking statements contained herein on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in “Cautionary Note Regarding Forward-Looking Statements,” Part I Item 1A - "Risk Factors" and Part II Item 7 - "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's 2025 Annual Report on Form 10-K. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. The forward-looking statements relate only to events as of the date on which the statements are made. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. These forward-looking statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Media Contact:Investor Relations Contact:
Dan WesthuesCharlie Martin
SEVP, Chief Customer OfficerCorporate Development Officer
Central Bancompany, Inc.Central Bancompany, Inc.
dan.westhues@centralbank.netcharlie.martin@centralbank.net
(573) 634-1281(314) 686-7007

Current quarter, prior quarter and prior year quarter information is provided on pages 5-8 below.

Central Bancompany, Inc. and Subsidiaries
Quarterly Consolidated Balance Sheets (unaudited)
Q3Q2Q3Q vs PQQ vs PYQ
FY26FY26FY25$VAR%VAR$VAR%VAR
(dollars in thousands, except per common share data)
Assets
Cash and due from banks$188,916$244,257$217,621$(55,341)(22.7)%$(28,705)(13.2)%
Short-term earning assets563,556525,044812,44938,5127.3%(248,893)(30.6)%
Investment securities6,925,7647,072,0746,017,738(146,310)(2.1)%908,02615.1%
Loans held for investment:
Construction and development517,308569,593534,852(52,285)(9.2)%(17,544)(3.3)%
Commercial, financial & agricultural1,781,5581,799,5841,736,276(18,026)(1.0)%45,2822.6%
Non-owner-occupied commercial real estate 13,340,8323,249,4793,156,49391,3532.8%184,3395.8%
Owner-occupied commercial real estate1,614,9701,595,8661,583,15019,1041.2%31,8202.0%
Commercial real estate4,955,8024,845,3454,739,643110,4572.3%216,1594.6%
Total commercial loans7,254,6687,214,5227,010,77140,1460.6%243,8973.5%
Residential mortgage loans 23,496,1373,475,4283,250,73120,7090.6%245,4067.5%
Home equity lines of credit456,541433,330390,77723,2115.4%65,76416.8%
Consumer credit card100,48298,10792,8812,3752.4%7,6018.2%
Other consumer loans429,422462,469588,192(33,047)(7.1)%(158,770)(27.0)%
Total residential and consumer loans4,482,5824,469,3344,322,58113,2480.3%160,0013.7%
Total unpaid principal balance11,737,25011,683,85611,333,35253,3940.5%403,8983.6%
Add: Unearned income(9,810)(10,240)(10,034)430(4.2)%224(2.2)%
Loans held for investment11,727,44011,673,61611,323,31853,8240.5%404,1223.6%
Less: Allowance for credit losses(150,888)(150,417)(149,459)(471)0.3%(1,429)1.0%
Net loans11,576,55211,523,19911,173,85953,3530.5%402,6933.6%
Loans held for sale17,79127,75121,830(9,960)(35.9)%(4,039)(18.5)%
Land, buildings, and equipment, net224,518223,803214,5507150.3%9,9684.6%
Goodwill and intangibles349,495350,055352,470(560)(0.2)%(2,975)(0.8)%
Other assets379,063328,644373,08850,41915.3%5,9751.6%
Total assets$20,225,657$20,294,827$19,183,605$(69,170)(0.3)%$1,042,0525.4%
Liabilities and Stockholders' Equity
Deposits:
Noninterest-bearing demand$5,652,941$5,570,404$5,317,961$82,5371.5%$334,9806.3%
Savings and interest-bearing demand8,159,3028,263,2247,767,084(103,922)(1.3)%392,2185.0%
Time1,503,6371,544,2111,704,182(40,574)(2.6)%(200,545)(11.8)%
Total deposits15,315,88015,377,83914,789,227(61,959)(0.4)%526,6533.6%
Federal funds purchased and customer repurchase agreements932,323913,127958,76619,1962.1%(26,443)(2.8)%
Total customer funds16,248,20316,290,96615,747,993(42,763)(0.3)%500,2103.2%
Other liabilities138,728138,100151,1986280.5%(12,470)(8.2)%
Total liabilities16,386,93116,429,06615,899,191(42,135)(0.3)%487,7403.1%
Stockholders' equity:
Common equity4,158,2944,069,6873,422,55588,6072.2%735,73921.5%
Accumulated other comprehensive (loss)(177,364)(65,533)(38,983)(111,831)170.6%(138,381)355.0%
Less: Treasury stock(142,204)(138,393)(99,158)(3,811)2.8%(43,046)43.4%
Total stockholders' equity3,838,7263,865,7613,284,414(27,035)(0.7)%554,31216.9%
Total liabilities and stockholders' equity$20,225,657$20,294,827$19,183,605$(69,170)(0.3)%$1,042,0525.4%
1 Non-owner occupied commercial real estate loans updated presentation to include multi-family loans
2 Residential mortgage loans updated presentation to include residential construction and development
Central Bancompany, Inc. and Subsidiaries
Quarterly Consolidated Statements of Income (unaudited)
Q3Q2Q3Q vs PQQ vs PYQ
FY26FY26FY25$VAR%VAR$VAR%VAR
(dollars in thousands, except per common share data)
Interest income:
Loans$184,767$179,874$179,351$4,8932.7%$5,4163.0%
Investment securities76,00273,49162,3432,5113.4%13,65921.9%
Short-term earning assets6,3377,0597,081(722)(10.2)%(744)(10.5)%
Total interest income267,106260,424248,7756,6822.6%18,3317.4%
Interest expense:
Deposits42,99042,17644,0668141.9%(1,076)(2.4)%
Federal funds purchased and customer repurchase agreements5,2605,4645,837(204)(3.7)%(577)(9.9)%
Total interest expense48,25047,64049,9036101.3%(1,653)(3.3)%
Net interest income218,856212,784198,8726,0722.9%19,98410.0%
Provision for credit losses4,0383,5353,38250314.2%65619.4%
Noninterest income:
Wealth management services23,61223,24420,2393681.6%3,37316.7%
Payment services revenue17,80318,25317,111(450)(2.5)%6924.0%
Service charges and commissions15,44414,78514,9556594.5%4893.3%
Mortgage banking revenues, net8,82610,61510,297(1,789)(16.9)%(1,471)(14.3)%
Investment securities gains (losses), net229616(6,920)(387)(62.8)%7,149(103.3)%
Other income8862,0421,388(1,156)(56.6)%(502)(36.2)%
Total noninterest income66,80069,55557,070(2,755)(4.0)%9,73017.0%
Adjustments:
Investment securities gains (losses), net229616(6,920)(387)(62.8)%7,149(103.3)%
Total adjusted noninterest income 166,57168,93963,990(2,368)(3.4)%2,5814.0%
Noninterest expenses:
Salaries and employee benefits80,00680,03675,298(30)—%4,7086.3%
Net occupancy and equipment12,48812,39212,748960.8%(260)(2.0)%
Computer software and maintenance5,6925,4906,0322023.7%(340)(5.6)%
Marketing and business development4,9375,2734,818(336)(6.4)%1192.5%
Legal and professional fees5,2755,5696,125(294)(5.3)%(850)(13.9)%
Bankcard processing, rewards and related cost8,3758,2638,0401121.4%3354.2%
Other expenses14,20614,33113,884(125)(0.9)%3222.3%
Total noninterest expenses130,979131,354126,945(375)(0.3)%4,0343.2%
Income before income taxes150,639147,450125,6153,1892.2%25,02419.9%
Income taxes34,39733,67728,5167202.1%5,88120.6%
Net income$116,242$113,773$97,098$2,4702.2%$19,14419.7%
Investment securities gains (losses), net of taxes175469(5,270)(294)(62.7)%5,445(103.3)%
Adjusted net income 1$116,067$113,304$102,369$2,7642.4%$13,69913.4%
End of period shares239,382239,505220,665(123)(0.1)%18,7178.5%
Weighted average fully diluted shares239,550239,679220,059(129)(0.1)%19,4918.9%
Net income per common share - diluted$0.48$0.47$0.44$0.012.2%$0.049.9%
Adjusted net income 1 per common share - diluted$0.48$0.47$0.47$0.012.5%$0.024.1%
Dividends / share$0.12$0.12$0.06$-—%$0.07118.2%
1 These are non-GAAP financial measures management believes are helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measures. Further information on these financial measures and reconciliations to the most comparable GAAP financial measures are provided at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Quarterly Summary of Financial Results (unaudited)
Q3Q2Q3Q vs PQQ vs PYQ
FY26FY26FY25$VAR%VAR$VAR%VAR
(dollars in thousands, except per common share data and other information)
Financial Ratios (GAAP)
Net interest margin4.48%4.40%4.36%0.08%1.83%0.12%2.71%
Return on average total assets 22.27%2.24%2.02%0.02%0.97%0.25%12.26%
Return on average common equity 211.9%11.9%11.9%—%—%—%(0.3)%
Fee income ratio23.4%24.6%22.3%(1.3)%(5.1)%1.1%4.9%
Efficiency ratio45.9%46.5%49.6%(0.7)%(1.4)%(3.7)%(7.6)%
Effective tax rate22.8%22.8%22.7%—%—%0.1%0.6%
Financial Ratios (Non-GAAP) 1
Net interest margin (FTE) 34.51%4.43%4.39%0.08%1.83%0.12%2.72%
Adjusted return on average total assets 22.26%2.23%2.13%0.03%1.24%0.13%6.32%
Adjusted return on average common equity 211.8%11.8%12.5%—%0.2%(0.7)%(5.6)%
Return on average tangible common equity 213.1%13.1%13.4%—%(0.3)%(0.4)%(2.6)%
Adjusted return on average tangible common equity 213.1%13.1%14.2%—%(0.1)%(1.1)%(7.8)%
Adjusted fee income ratio23.3%24.5%24.3%(1.1)%(4.7)%(1.0)%(4.2)%
Efficiency ratio (FTE) 345.4%46.1%47.7%(0.6)%(1.4)%(2.3)%(4.8)%
Net Interest Margin & Yields
Interest-earning cash yield 33.92%3.86%4.64%0.06%1.6%(0.71)%(15.4)%
Investment securities yield 34.32%4.22%4.09%0.10%2.5%0.23%5.7%
Loan yield 36.29%6.24%6.28%0.05%0.8%0.01%0.2%
Cost of deposits1.11%1.10%1.19%0.01%0.7%(0.08)%(6.5)%
Cost of funds1.17%1.17%1.26%—%0.4%(0.09)%(7.0)%
Loan to deposit ratio76.7%76.1%76.7%0.6%0.8%—%—%
Interest-free funds ratio44.5%44.0%42.2%0.5%1.0%2.3%5.4%
Interest-earning asset yield 35.50%5.42%5.49%0.08%1.5%0.01%0.2%
Cost of total interest-bearing liabilities1.78%1.76%1.89%0.02%1.1%(0.11)%(6.0)%
Net interest spread3.72%3.66%3.59%0.06%1.8%0.13%3.5%
Benefit of interest-free funds0.79%0.78%0.80%0.02%2.2%(0.01)%(1.0)%
Other Information
Number of full service offices159159155——%42.6%
Full-time equivalent employees2,9212,9712,911(50)(1.7)%100.3%
Consolidated Capital Ratios
Tier 1 capital ratio29.1%28.6%24.6%0.4%1.5%4.5%18.1%
Total risk-based capital ratio30.2%29.8%25.8%0.4%1.4%4.4%17.1%
Tier 1 leverage ratio18.3%17.9%15.9%0.4%2.2%2.4%15.0%
Common equity tier 1 ratio29.1%28.6%24.6%0.4%1.5%4.5%18.1%
Total stockholders' equity to total assets19.0%19.0%17.1%(0.1)%(0.4)%1.9%10.9%
Tangible common equity to tangible assets (non-GAAP)117.6%17.6%15.6%(0.1)%(0.4)%2.0%12.8%
Risk-weighted assets$12,737$12,633$12,212$1040.8%$5254.3%
Book value per share$16.04$16.14$14.88$(0.10)(0.6)%$1.157.7%
Tangible book value per share (non-GAAP)1$14.58$14.68$13.29$(0.10)(0.7)%$1.299.7%
Closing stock price per share$31.25$30.38NA$0.872.9%NANA
Bank-Level Ratios
Tier 1 capital ratio13.4%12.7%13.6%0.7%5.9%(0.1)%(1.0)%
Total risk-based capital ratio14.6%13.9%14.8%0.7%5.3%(0.2)%(1.2)%
Tier 1 leverage ratio8.5%7.9%8.8%0.5%6.5%(0.3)%(3.5)%
Common equity Tier 1 ratio13.4%12.7%13.6%0.7%5.9%(0.1)%(1.0)%
1 These are non-GAAP financial measures management believes are helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measures. Further information on these financial measures and reconciliations to the most comparable GAAP financial measures are provided at the end of this release.
2 Annualized for all partial-year periods.
3 Fully-tax equivalent basis.
Asset Quality
Allowance for credit losses / loans held for investment1.29%1.29%1.32%—%(0.1)%(0.03)%(2.5)%
Allowance for credit losses$150,888$150,417$149,459$4710.3%$1,4291.0%
Allowance for unfunded loan commitments$376$360$384$164.4%$(8)(2.1)%
Allowance for investment securities$12$12$16$——%$(4)(25.0)%
Nonperforming loans / loans held for investment0.54%0.49%0.45%0.05%9.6%0.09%19.6%
Nonperforming loans$62,901$57,152$50,774$5,74910.1%$12,12723.9%
Nonperforming commercial loans$32,755$28,431$18,265$4,32415.2%$14,49079.3%
Nonperforming consumer loans$30,146$28,721$32,509$1,4255.0%$(2,363)(7.3)%
Nonperforming assets / total assets0.33%0.30%0.30%0.03%9.9%0.03%9.0%
Nonperforming assets$65,987$60,242$57,416$5,7459.5%$8,57114.9%
Net charge-offs / average loans0.12%0.10%0.12%0.02%15.6%—%0.1%
Net charge-offs$3,551$3,015$3,450$53617.8%$1012.9%
Commercial net charge-offs$1,232$341$1,275$891261.3%$(43)(3.4)%
Consumer net charge-offs$2,319$2,674$2,175$(355)(13.3)%$1446.6%
Central Bancompany, Inc. and Subsidiaries
Quarterly Average Consolidated Balance Sheets (unaudited)
Q3Q2Q3Q vs PQQ vs PYQ
FY26FY26FY25$VAR%VAR$VAR%VAR
(dollars in thousands)
Average Assets
Cash and due from banks$166,391$184,908$183,429$(18,517)(10.0)%$(17,038)(9.3)%
Short-term earning assets667,705763,811630,929(96,106)(12.6)%36,7765.8%
Investment securities7,023,0717,033,0396,087,403(9,968)(0.1)%935,66815.4%
Loans held for investment11,673,38911,581,90111,345,54491,4880.8%327,8452.9%
Less allowance for credit losses(150,296)(149,888)(149,072)(408)0.3%(1,224)0.8%
Net loans11,523,09311,432,01311,196,47291,0800.8%326,6212.9%
Loans held for sale22,05725,85928,884(3,802)(14.7)%(6,827)(23.6)%
Land, buildings, and equipment, net224,511222,755215,2181,7560.8%9,2934.3%
Goodwill and intangibles349,823350,576352,996(753)(0.2)%(3,173)(0.9)%
Other assets374,543320,978389,10653,56516.7%(14,563)(3.7)%
Total assets$20,351,194$20,333,939$19,084,437$17,2550.1%$1,266,7576.6%
Average Liabilities
Noninterest-bearing demand$5,561,447$5,502,016$5,237,939$59,4311.1%$323,5086.2%
Savings and interest-bearing demand8,294,9778,278,6847,788,11716,2930.2%506,8606.5%
Time1,520,0901,573,4761,709,401(53,386)(3.4)%(189,311)(11.1)%
Total deposits15,376,51415,354,17614,735,45722,3380.1%641,0574.4%
Federal funds purchased and customer repurchase agreements944,4351,006,357957,951(61,922)(6.2)%(13,516)(1.4)%
Total customer funds16,320,94916,360,53315,693,408(39,584)(0.2)%627,5414.0%
Other liabilities141,354125,999152,49115,35512.2%(11,137)(7.3)%
Total liabilities16,462,30316,486,53215,845,899(24,229)(0.1)%616,4043.9%
Average Stockholders' Equity
Common equity4,131,7584,044,5523,393,91687,2062.2%737,84221.7%
Accumulated other comprehensive loss(104,101)(63,886)(56,220)(40,215)62.9%(47,881)85.2%
Treasury stock(138,766)(133,259)(99,158)(5,507)4.1%(39,608)39.9%
Total stockholders' equity3,888,8913,847,4073,238,53841,4841.1%650,35320.1%
Total liabilities and stockholders' equity$20,351,194$20,333,939$19,084,437$17,2550.1%$1,266,7576.6%
Average interest-earning assets$19,386,222$19,404,610$18,092,760$(18,388)(0.1)%$1,293,4627.1%
Average interest-bearing liabilities10,759,50210,858,51710,455,469(99,015)(0.9)%304,0332.9%
Average interest-free funds8,626,7208,546,0937,637,29180,6270.9%989,42913.0%
Central Bancompany, Inc. and Subsidiaries
Fiscal Year To Date Consolidated Statements of Income (unaudited)
YTDYTDYTD YoY
FY26FY25$VAR%VAR
(dollars in thousands, except per common share data)
Interest income:
Loans$540,717$533,416$7,3011.4%
Investment securities217,475172,67544,80025.9%
Short-term earning assets27,39228,572(1,180)(4.1)%
Total interest income785,584734,66350,9216.9%
Interest expense:
Deposits128,590132,066(3,476)(2.6)%
Federal funds purchased and customer repurchase agreements16,73719,396(2,659)(13.7)%
Total interest expense145,327151,462(6,135)(4.1)%
Net interest income640,257583,20157,0569.8%
Provision for credit losses10,7196,2954,42470.3%
Noninterest income:
Wealth management services69,09958,73710,36217.6%
Payment services revenue52,42650,5071,9193.8%
Service charges and commissions44,64343,0771,5663.6%
Mortgage banking revenues, net28,97630,163(1,187)(3.9)%
Investment securities gains (losses), net845(6,811)7,656(112.4)%
Other income (loss)5,453(9,748)15,201(155.9)%
Total noninterest income201,442165,92535,51721.4%
Adjustments:
Investment securities gains (losses), net845(6,811)7,656(112.4)%
(Loss) on sale of consumer lease portfolio-(13,612)13,612(100.0)%
Total adjusted noninterest income 1200,597186,34814,2497.6%
Noninterest expenses:
Salaries and employee benefits236,080221,28114,7996.7%
Net occupancy and equipment37,04636,2597872.2%
Computer software and maintenance17,15917,316(157)(0.9)%
Marketing and business development14,76715,194(427)(2.8)%
Legal and professional fees16,90916,4804292.6%
Bankcard processing, rewards and related cost24,39123,1531,2385.3%
Other expenses42,59746,294(3,697)(8.0)%
Total noninterest expenses388,949375,97712,9723.5%
Income before income taxes442,031366,85475,17720.5%
Income taxes100,92983,59317,33620.7%
Net income$341,102$283,261$57,84120.4%
Adjustments:
Investment securities gains (losses), net of taxes644(5,187)5,831(112.4)%
(Loss) on expected sale of consumer lease portfolio, net of taxes-(6,563)6,563(100.0)%
Adjusted net income 1$340,458$295,011$45,44715.4%
End of period shares239,382220,66518,7178.5%
Weighted average fully diluted shares240,004220,01319,9919.1%
Net income per common share - diluted$1.42$1.28$0.1410.5%
Adjusted net income 1 per common share - diluted$1.42$1.34$0.085.9%
Dividends / share$0.36$0.97$(0.61)(62.7)%
1 These are non-GAAP financial measures management believes are helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measures. Further information on these financial measures and reconciliations to the most comparable GAAP financial measures are provided at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Fiscal Year To Date Summary of Financial Results (unaudited)
YTDYTDYTD YoY
FY26FY25$VAR%VAR
(dollars in thousands, except per common share data and other information)
Financial Ratios (GAAP)
Net interest margin4.40%4.27%0.13%3.0%
Return on average total assets 22.24%1.97%0.26%13.2%
Return on average common equity 211.8%11.8%—%0.1%
Fee income ratio23.9%22.1%1.8%8.1%
Efficiency ratio46.2%50.2%(4.0)%(7.9)%
Effective tax rate22.8%22.8%—%0.2%
Financial Ratios (Non-GAAP) 1
Net interest margin (FTE)2, 34.43%4.31%0.13%3.0%
Adjusted return on average total assets 22.23%2.06%0.17%8.5%
Adjusted return on average common equity 211.8%12.3%(0.5)%(4.1)%
Return on average tangible common equity 213.1%13.4%(0.3)%(2.2)%
Adjusted return on average tangible common equity 213.1%13.9%(0.9)%(6.3)%
Adjusted fee income ratio23.9%24.2%(0.4)%(1.5)%
Efficiency ratio (FTE)345.7%48.3%(2.5)%(5.2)%
Net Interest Margin & Yields
Interest-earning cash yield 33.87%4.65%(0.77)%(16.7)%
Investment securities yield 34.26%3.93%0.32%8.3%
Loan yield 36.26%6.24%0.02%0.4%
Cost of deposits1.12%1.19%(0.08)%(6.5)%
Cost of funds1.18%1.28%(0.10)%(7.6)%
Loan to deposit ratio76.7%76.7%—%—%
Interest-free funds ratio44.0%41.7%2.3%5.5%
Interest-earning asset yield 35.43%5.42%0.02%0.3%
Cost of total interest-bearing liabilities1.78%1.90%(0.12)%(6.4)%
Net interest spread3.65%3.51%0.14%3.9%
Benefit of interest-free funds0.78%0.79%(0.01)%(1.2)%
Asset Quality
Allowance for credit losses / loans held for investment1.29%1.32%(0.03)%(2.5)%
Allowance for credit losses$150,888$149,459$1,4291.0%
Allowance for unfunded loan commitments$376$384$(8)(2.1)%
Allowance for investment securities$12$16$(4)(25.0)%
Nonperforming loans / loans held for investment0.54%0.45%0.09%19.6%
Nonperforming loans$62,901$50,774$12,12723.9%
Nonperforming commercial loans$32,755$18,265$14,49079.3%
Nonperforming consumer loans$30,146$32,509$(2,363)(7.3)%
Nonperforming assets / total assets0.33%0.30%0.03%9.0%
Nonperforming assets$65,987$57,416$8,57114.9%
Net charge-offs / average loans0.11%0.13%(0.02)%(16.4)%
Net charge-offs$9,476$11,219$(1,743)(15.5)%
Commercial net charge-offs$1,890$3,852$(1,961)(50.9)%
Consumer net charge-offs$7,586$7,368$2183.0%
1 These are non-GAAP financial measures management believes are helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measures. Further information on these financial measures and reconciliations to the most comparable GAAP financial measures are provided at the end of this release.
2 Annualized for all partial-year periods.
3 Fully-tax equivalent basis.
Central Bancompany, Inc. and Subsidiaries
Fiscal Year To Date Average Consolidated Balance Sheets (unaudited)
YTDYTDYTD YoY
FY26FY25$VAR%VAR
(dollars in thousands)
Average Assets
Cash and due from banks$178,741$190,534$(11,793)(6.2)%
Short-term earning assets984,373855,455128,91815.1%
Investment securities6,875,1765,912,042963,13416.3%
Loans held for investment11,575,68611,455,571120,1151.0%
Less allowance for credit losses(149,913)(151,866)1,953(1.3)%
Net loans11,425,77311,303,705122,0681.1%
Loans held for sale23,39625,208(1,812)(7.2)%
Land, buildings, and equipment, net221,657215,4766,1812.9%
Goodwill and intangibles350,587353,798(3,211)(0.9)%
Other assets339,245320,44018,8055.9%
Total assets$20,398,948$19,176,658$1,222,2906.4%
Average Liabilities
Noninterest-bearing demand$5,525,577$5,179,927$345,6506.7%
Savings and interest-bearing demand8,318,1017,925,388392,7135.0%
Time1,574,5231,696,202(121,679)(7.2)%
Total deposits15,418,20114,801,517616,6844.2%
Federal funds purchased and customer repurchase agreements1,007,3511,017,139(9,788)(1.0)%
Total customer funds16,425,55215,818,656606,8963.8%
Other liabilities117,885153,088(35,203)(23.0)%
Total liabilities16,543,43715,971,744571,6933.6%
Average Stockholders' Equity
Common equity4,045,3133,393,949651,36419.2%
Accumulated other comprehensive loss(64,572)(89,886)25,314(28.2)%
Treasury stock(125,230)(99,149)(26,081)26.3%
Total stockholders' equity3,855,5113,204,914650,59720.3%
Total liabilities and stockholders' equity$20,398,948$19,176,658$1,222,2906.4%
Average interest-earning assets$19,458,631$18,248,276$1,210,3556.6%
Average interest-bearing liabilities10,899,97510,638,729261,2462.5%
Average interest-free funds8,558,6567,609,547949,10912.5%

Non-GAAP Financial Measures Reconciliations

In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.

We disclose net interest income and related ratios and analysis on a fully taxable-equivalent (“FTE”) basis, which may be considered non-GAAP financial measures. We believe this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison of net interest income arising from taxable and tax-exempt sources. In addition, certain performance measures, including the efficiency ratio and net interest margin utilize net interest income on a taxable-equivalent basis.

We evaluate our profitability and performance based on adjusted net income, adjusted total revenue, adjusted noninterest income, adjusted fee income, adjusted fee income ratio and adjusted return on average total assets. We adjust each of these measures to exclude the loss on the expected sale of the consumer loan portfolio in one of our markets and adjustments that resulted from certain investment portfolio repositioning activities during the periods presented that we consider to be outside of the ordinary course of business. We believe this allows investors to assess our net income, total revenue and noninterest income exclusive of the impact of changes outside the ordinary course of business. Similarly, we evaluate our operational efficiency based on tangible noninterest expense and our adjusted efficiency ratio, which excludes the effect of amortization of intangibles (a non-cash expense item) as well as the exclusions mentioned previously in this paragraph, and includes the tax benefit associated with our tax-advantaged loans.

We evaluate our financial condition based on the ratios of our tangible common equity to our tangible assets, tangible book value per share, core tangible book value per share, return and adjusted return on average common equity, and return and adjusted return on average tangible common equity. Our calculation of these ratios allows readers to assess our stockholders’ equity, exclusive of the effect of our goodwill and other intangible assets.

Reconciliations for each of these non-GAAP financial measures to the closest GAAP financial measures are included in the tables below. Each of the non-GAAP financial measures presented should be considered in context with our GAAP financial results included in this release.

Central Bancompany, Inc. and Subsidiaries
Quarterly Reconciliation of non-GAAP Measures (unaudited)
Q3Q2Q3Q vs PQQ vs PYQ
FY26FY26FY25$VAR%VAR$VAR%VAR
(dollars in thousands, except share and per share data)
Interest income (FTE), net interest income (FTE) and net interest margin (FTE)
Interest income$267,106$260,424$248,775$6,6822.6%$18,3317.4%
Add: Tax-equivalent adjustment ¹1,6191,5801,436392.5%18312.7%
Interest income (FTE) (non-GAAP)$268,725$262,004$250,211$6,7212.6%$18,5147.4%
Net interest income{a}$218,856$212,784$198,872$6,0722.9%$19,98410.0%
Add: Tax-equivalent adjustment ¹1,6191,5801,436392.5%18312.7%
Net interest income (FTE) (non-GAAP){b}$220,475$214,364$200,308$6,1112.9%$20,16710.1%
Average interest-earning assets{c}$19,386,222$19,404,610$18,092,760$(18,388)(0.1)%$1,293,4627.1%
Net interest margin ²{a ÷ c}4.48%4.40%4.36%0.08%1.8%0.12%2.7%
Net interest margin (FTE) (non-GAAP) ²{b ÷ c}4.51%4.43%4.39%0.08%1.8%0.12%2.7%
¹ Effective marginal tax rate of 23.84% used for all periods.
² Ratios for the quarters are presented on an annualized basis.
Adjusted noninterest income, adjusted total revenue and adjusted fee income ratio
Noninterest income{a}$66,800$69,555$57,070$(2,755)(4.0)%$9,73017.0%
Less: Investment securities (losses) gains, net229616(6,920)(387)(62.8)%7,149(103.3)%
Adjusted noninterest income (non-GAAP){b}$66,571$68,939$63,990(2,368)(3.4)%2,5814.0%
Net interest income$218,856$212,784$198,8726,0722.9%19,98410.0%
Noninterest income66,80069,55557,070(2,755)(4.0)%9,73017.0%
Total revenue{c}285,656282,339255,9423,3171.2%29,71411.6%
Less: Investment securities (losses) gains, net229616(6,920)(387)(62.8)%7,149(103.3)%
Adjusted total revenue (non-GAAP){d}$285,427$281,723$262,862$3,7041.3%$22,5658.6%
Fee income ratio{a ÷ c}23.4%24.6%22.3%(1.3)%(5.1)%1.1%4.9%
Adjusted fee income ratio (non-GAAP){b ÷ d}23.3%24.5%24.3%(1.1)%(4.7)%(1.0)%(4.2)%
Tangible noninterest expense, adjusted total revenue (FTE) and efficiency ratio (FTE)
Net interest income$218,856$212,784$198,872$6,0722.9%$19,98410.0%
Noninterest income66,80069,55557,070(2,755)(4.0)%9,73017.0%
Total revenue{a}285,656282,339255,9423,3171.2%29,71411.6%
Less: Investment securities (losses) gains, net229616(6,920)(387)(62.8)%7,149—%
Add: Tax equivalent adjustment ¹1,6191,5801,436392.5%18312.7%
Adjusted total revenue (FTE) (non-GAAP){b}$287,046$283,303$264,298$3,7431.3%$22,7488.6%
Noninterest expense{c}$130,979$131,354$126,945$(375)(0.3)%$4,0343.2%
Less: Amortization of intangible assets559804807(245)(30.5)%(248)(30.7)%
Tangible noninterest expense (non-GAAP){d}$130,420$130,550$126,138$(130)(0.1)%$4,2823.4%
Efficiency ratio{c ÷ a}45.9%46.5%49.6%(0.7)%(1.4)%(3.7)%(7.6)%
Efficiency ratio (FTE) (non-GAAP){d ÷ b}45.4%46.1%47.7%(0.6)%(1.4)%(2.3)%(4.8)%
Adjusted net income and adjusted return on average total assets
Net income{a}$116,242$113,773$97,098$2,4702.2%$19,14419.7%
Add: Investment securities (losses) gains, net of taxes ¹(175)(469)5,270294(62.7)%(5,445)(103.3)%
Adjusted net income (non-GAAP){b}$116,067$113,304$102,368$2,7642.4%$13,69913.4%
Average total assets{c}$20,351,194$20,333,939$19,084,437$17,2550.1%$1,266,7576.6%
Return on average total assets 2{a ÷ c}2.27%2.24%2.02%0.02%1.0%0.25%12.3%
Adjusted return on average total assets (non-GAAP) 2{b ÷ c}2.26%2.23%2.13%0.03%1.2%0.13%6.3%
¹ Effective marginal tax rate of 23.84% used for all periods.
2 Ratios for the quarters are presented on an annualized basis.
Tangible common equity, tangible book value per share and tangible common equity to tangible assets
Total stockholders' equity{a}$3,838,726$3,865,761$3,284,414$(27,035)(0.7)%$554,31216.9%
Less: Goodwill and other intangible assets349,495350,055352,470(560)(0.2)%(2,975)(0.8)%
Tangible common equity (non-GAAP){b}$3,489,231$3,515,706$2,931,944$(26,475)(0.8)%$557,28719.0%
Total shares of Class A common stock outstanding{c}239,382239,505220,665(123)(0.1)%18,7178.5%
Book value per share{a ÷ c}$16.04$16.14$14.88$(0.10)(0.6)%$1.157.7%
Tangible book value per share (non-GAAP){b ÷ c}$14.58$14.68$13.29$(0.10)(0.7)%$1.299.7%
Total assets{d}$20,225,657$20,294,827$19,183,605$(69,170)(0.3)%$1,042,0525.4%
Less: Goodwill and other intangible assets349,495350,055352,470(560)(0.2)%(2,975)(0.8)%
Tangible assets (non-GAAP){e}$19,876,162$19,944,772$18,831,135$(68,610)(0.3)%$1,045,0275.5%
Total stockholders' equity to total assets{a ÷ d}19.0%19.0%17.1%(0.1)%(0.4)%1.9%10.9%
Tangible common equity to tangible assets (non-GAAP){b ÷ e}17.6%17.6%15.6%(0.1)%(0.4)%2.0%12.8%
Tangible net income, adjusted tangible net income, average tangible common equity, adjusted return on average common equity, return on average tangible common equity and adjusted return on average tangible common equity
Net income{a}$116,242$113,773$97,098$2,4702.2%$19,14419.7%
Add: Amortization of intangible assets, net of taxes ¹426612615(187)(30.5)%(189)(30.7)%
Tangible net income (non-GAAP)116,668114,38597,7132,2832.0%18,95519.4%
Add: Investment securities (losses) gains, net of taxes ¹(175)(469)5,270294(62.7)%(5,445)(103.3)%
Adjusted tangible net income (non-GAAP){b}$116,493$113,916$102,983$2,5772.3%$13,51013.1%
Average common equity{c}$3,888,891$3,847,407$3,238,538$41,4841.1%$650,35320.1%
Less: Average goodwill and other intangible assets349,823350,576352,996(753)(0.2)%(3,173)(0.9)%
Average tangible common equity (non-GAAP){d}$3,539,068$3,496,831$2,885,542$42,2371.2%$653,52622.6%
Return on average common equity 2{a ÷ c}11.9%11.9%11.9%—%—%—%(0.3)%
Adjusted return on average common equity (non-GAAP) 2{b ÷ c}11.8%11.8%12.5%—%0.2%(0.7)%(5.6)%
Return on average tangible common equity (non-GAAP) 2{a ÷ d}13.1%13.1%13.4%—%(0.3)%(0.4)%(2.6)%
Adjusted return on average tangible common equity (non-GAAP) 2{b ÷ d}13.1%13.1%14.2%—%(0.1)%(1.1)%(7.8)%
¹ Effective marginal tax rate of 23.84% used for all periods.
2 Ratios for the quarters are presented on an annualized basis.
Excess tangible common equity, excess tangible book value per share and core tangible book value per share
Q3Q2Q1Q4Q3
FY26FY26FY26FY25FY25
(dollars in thousands, except share and per share data)
Total stockholders' equity{a}$3,838,726$3,865,761$3,798,326$3,783,977$3,284,414
Less: Goodwill and other intangible assets349,495350,055350,859351,664352,470
Tangible common equity (non-GAAP){b}$3,489,231$3,515,706$3,447,467$3,432,313$2,931,944
Total shares of Class A common stock outstanding{c}239,382239,505239,787241,106220,665
Book value per share{a ÷ c}$16.04$16.14$15.84$15.69$14.88
Tangible book value per share (non-GAAP){b ÷ c}$14.58$14.68$14.38$14.24$13.29
Target common equity tier 1 ratio{d}13.5%13.5%13.5%13.5%13.5%
Risk-weighted assets{e}$12,736,855$12,632,810$12,369,850$12,403,247$12,211,732
Target common equity tier 1 capital (non-GAAP){f} = {d * e}$1,719,475$1,705,429$1,669,930$1,674,438$1,648,584
Actual common equity tier 1 capital{h}$3,701,132$3,615,670$3,535,765$3,483,247$3,004,815
Excess common equity tier 1 capital (non-GAAP){i} = {h - f}$1,981,657$1,910,241$1,865,835$1,808,809$1,356,231
Excess tangible book value per share (non-GAAP){i ÷ c}$8.28$7.98$7.78$7.50$6.15
Tangible book value per share (non-GAAP){b ÷ c}$14.58$14.68$14.38$14.24$13.29
Less: Excess tangible book value per share (non-GAAP){i ÷ c}$8.28$7.98$7.78$7.50$6.15
Core tangible book value per share (non-GAAP)$6.30$6.70$6.60$6.73$7.14
Central Bancompany, Inc. and Subsidiaries
Fiscal Year To Date Reconciliation of non-GAAP Measures (unaudited)
YTDYTDYTD YoY
FY26FY25$VAR%VAR
(dollars in thousands, except share and per share data)
Interest income (FTE), net interest income (FTE) and net interest margin (FTE)
Interest income$785,584$734,663$50,9216.9%
Add: Tax-equivalent adjustment ¹5,0024,5604429.7%
Interest income (FTE) (non-GAAP)$790,586$739,223$51,3636.9%
Net interest income{a}$640,257$583,201$57,0569.8%
Add: Tax-equivalent adjustment ¹5,0024,5604429.7%
Net interest income (FTE) (non-GAAP){b}$645,259$587,761$57,4989.8%
Average interest-earning assets{c}$19,458,631$18,248,276$1,210,3556.6%
Net interest margin ²{a ÷ c}4.40%4.27%0.13%3.0%
Net interest margin (FTE) (non-GAAP) ²{b ÷ c}4.43%4.31%0.13%3.0%
Adjusted noninterest income, adjusted total revenue and adjusted fee income ratio
Noninterest income{a}$201,442$165,925$35,51721.4%
Less: Loss on sale of consumer lease portfolio—(13,612)13,612(100.0)%
Less: Investment securities (losses), net845(6,811)7,656(112.4)%
Adjusted noninterest income (non-GAAP){b}$200,597$186,34814,2497.6%
Net interest income$640,257$583,20157,0569.8%
Noninterest income201,442165,92535,51721.4%
Total revenue{c}841,699749,12692,57312.4%
Less: Loss on sale of consumer lease portfolio—(13,612)13,612(100.0)%
Less: Investment securities (losses), net845(6,811)7,656(112.4)%
Adjusted total revenue (non-GAAP){d}$840,854$769,549$71,3059.3%
Fee income ratio{a ÷ c}23.9%22.1%1.8%8.1%
Adjusted fee income ratio (non-GAAP){b ÷ d}23.9%24.2%(0.4)%(1.5)%
Tangible noninterest expense, adjusted total revenue (FTE) and efficiency ratio (FTE)
Net interest income$640,257$583,201$57,0569.8%
Noninterest income201,442165,92535,51721.4%
Total revenue{a}841,699749,12692,57312.4%
Less: Loss on sale of consumer lease portfolio—(13,612)13,612(100.0)%
Less: Investment securities (losses), net845(6,811)7,656(112.4)%
Add: Tax equivalent adjustment ¹5,0024,5604429.7%
Adjusted total revenue (FTE) (non-GAAP){b}$845,856$774,109$71,7479.3%
Noninterest expense{c}$388,949$375,977$12,9723.5%
Less: Amortization of intangible assets2,1682,420(252)(10.4)%
Tangible noninterest expense (non-GAAP){d}$386,781$373,557$13,2243.5%
Efficiency ratio{c ÷ a}46.2%50.2%(4.0)%(7.9)%
Efficiency ratio (FTE) (non-GAAP){d ÷ b}45.7%48.3%(2.5)%(5.2)%
Adjusted net income and adjusted return on average total assets
Net income{a}$341,102$283,261$57,84120.4%
Add: Loss on sale of consumer lease portfolio, net of provision and taxes 1, 3—6,563(6,563)(100.0)%
Add: Investment securities (losses), net of taxes ¹(644)5,187(5,831)(112.4)%
Adjusted net income (non-GAAP){b}$340,458$295,011$45,44715.4%
Average total assets{c}$20,398,948$19,176,658$1,222,2906.4%
Return on average total assets 2{a ÷ c}2.24%1.97%0.26%13.2%
Adjusted return on average total assets (non-GAAP) 2{b ÷ c}2.23%2.06%0.17%8.5%
¹ Effective marginal tax rate of 23.84% used for all periods.
2 Ratios for the year-to-date are presented on an annualized basis.
3 The second quarter of FY25 includes a $13.6 million loss on the expected sale of the consumer lease portfolio recognized in other noninterest income and a $5.0 million release of provision, which resulted in a net pre-tax loss of $8.6 million. Net of taxes, at a tax rate of 23.84%, the total impact to net income was $6.6 million.
Tangible net income, adjusted tangible net income, average tangible common equity, adjusted return on average common equity, return on average tangible common equity and adjusted return on average tangible common equity
Net income{a}$341,102$283,261$57,84120.4%
Add: Amortization of intangible assets, net of taxes ¹1,6511,843(192)(10.4)%
Tangible net income (non-GAAP)342,753285,10457,64920.2%
Add: Loss on sale of consumer lease portfolio, net of provision and taxes 1, 3—6,563(6,563)(100.0)%
Add: Investment securities (losses), net of taxes ¹(644)5,187(5,831)(112.4)%
Adjusted tangible net income (non-GAAP){b}$342,109$296,854$45,25515.2%
Average common equity{c}$3,855,511$3,204,914$650,59720.3%
Less: Average goodwill and other intangible assets350,587353,798(3,211)(0.9)%
Average tangible common equity (non-GAAP){d}$3,504,924$2,851,116$653,80822.9%
Return on average common equity 2{a ÷ c}11.8%11.8%—%0.1%
Adjusted return on average common equity (non-GAAP) 2{b ÷ c}11.8%12.3%(0.5)%(4.1)%
Return on average tangible common equity (non-GAAP) 2{a ÷ d}13.1%13.4%(0.3)%(2.2)%
Adjusted return on average tangible common equity (non-GAAP) 2{b ÷ d}13.1%13.9%(0.9)%(6.3)%
¹ Effective marginal tax rate of 23.84% used for all periods.
2 Ratios for the year-to-date are presented on an annualized basis.
3 The second quarter of FY25 includes a $13.6 million loss on the expected sale of the consumer lease portfolio recognized in other noninterest income and a $5.0 million release of provision, which resulted in a net pre-tax loss of $8.6 million. Net of taxes, at a tax rate of 23.84%, the total impact to net income was $6.6 million.

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