First Business Bank Reports Second Quarter 2024 Net Income of $10.2 Million

About this update from First Business Financial Services, Inc.

[{"type":"text","content":" \nRobust pre-tax, pre-provision earnings supported by double-digit loan growth, net interest margin expansion, and record private wealth fee income\n\n \n MADISON, Wis. --(BUSINESS WIRE)--\n First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq:FBIZ) reported quarterly net income available to common shareholders of $10.2 million , or earnings per share of $1.23 on a diluted basis. This compares to net income available to common shareholders of $8.6 million , or $1.04 per share, in the first quarter of 2024 and $8.1 million , or $0.98 per share, in the second quarter of 2023.\n\n \n“First Business Banks’s consistent growth strategy drove outstanding second quarter results, highlighted by continued double-digit loan growth, record top line revenue, improved net interest margin, and stable credit trends,” said Corey Chambas , Chief Executive Officer. \"We grew both net interest income and margin by executing high-quality loan production and utilizing our long-held and effective funding strategy. We continued to differentiate our business model with strong fee income sources, most notably from fees generated by our Private Wealth Management group’s $3.2 billion in assets under management and administration. The Company's consistently strong performance has generated exceptional shareholder value with 13.5% growth in tangible book value from the prior year.”\n\n \n“We are pleased that our balance sheet, interest rate positioning, and higher level of fees in lieu of interest during the quarter produced a net interest margin at the top of our long-term target range of 3.60%-3.65%,” Chambas continued. “We believe our neutrally positioned balance sheet is poised for stable and strong relative performance in varied interest rate scenarios.”\n\n \n Quarterly Highlights \n\n \n \n Consistent Loan Growth. Loans increased $74.6 million , or 10.3% annualized, from the first quarter of 2024, and $310.8 million , or 11.6%, from the second quarter of 2023, reflecting the addition and retention of valuable client relationships across the Company’s products and geographies.\n\n \n \n Expanded Net Interest Margin. Net interest margin measured 3.65%, elevated by strong fees in lieu of interest, expanding seven basis points from the linked quarter and improving for the first time in five quarters following recent industry-wide net interest margin compression. Net interest income grew 3.5% from the linked quarter and 10.1% from the prior year quarter. The Company’s continued success in driving balance sheet growth was supported by its long-held match-funding strategy.\n\n \n \n Robust Private Wealth Management Business. Private Wealth assets under management and administration grew to $3.249 billion as of June 30, 2024 , up $341.5 million , or 11.7% from the prior year. Private Wealth and Company Retirement Plan (\"Private Wealth\") fee income reached a record $3.5 million , increasing by 19.6% percent from June 30, 2023 and comprising 47% of total non-interest income.\n\n \n \n Strong Pre-Tax, Pre-Provision (\"PTPP\") Income. PTPP income grew to $14.1 million , up 7.6% and 5.0% from the linked and prior year quarters, respectively. This performance reflects solid growth across the Company’s balance sheet and diversified sources of non-interest income. PTPP adjusted return on average assets measured 1.57%, compared to 1.49% for the linked quarter and 1.72% for the prior year quarter.\n\n \n \n Stable Asset Quality. Non-performing assets measured $19.1 million , down $1.1 million , or 5.4%, from the linked quarter. Non-performing assets as a percent of total assets measured 0.53%, compared to 0.57% and 0.48% for the linked and prior year periods, respectively.\n\n \n \n Tangible Book Value Growth. The Company’s strong earnings generation and sound balance sheet management continued to drive tangible book value per share growth, producing a 11.5% annualized increase compared to the linked quarter and a 13.5% increase compared to the prior year quarter. With a conservatively managed investment portfolio, the Company's tangible book value is minimally impacted by unrealized gains or losses in its investment portfolio.\n\n \n \n Quarterly Financial Results \n\n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Three Months Ended \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Six Months Ended \n\n \n\n \n\n \n \n \n (Dollars in thousands, except per share amounts) \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2023 \n\n \n\n \n\n \n \n \nNet interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,540\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29,511\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,747\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n60,051\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n54,453\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAdjusted non-interest income (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,425\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,765\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,419\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,190\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,829\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating revenue (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n37,965\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n36,276\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35,166\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n74,241\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n70,282\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOperating expense (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,823\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,130\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n21,692\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n46,954\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n43,471\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPre-tax, pre-provision adjusted earnings (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,142\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13,146\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13,474\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,287\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,811\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLess:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nProvision for credit losses\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,713\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,326\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,231\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,039\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,793\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet loss on repossessed assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n65\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n86\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(2\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n151\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSBA recourse provision\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(9\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n126\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n341\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n117\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n323\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAdd:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet loss on sale of securities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(8\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(8\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nIncome before income tax expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,373\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,600\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,859\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,972\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,646\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIncome tax expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,917\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,668\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,330\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,456\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,848\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,337\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n19,304\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n17,316\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPreferred stock dividends\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n438\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n438\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income available to common shareholders\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,237\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,629\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n18,866\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,878\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nEarnings per share, diluted\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.23\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.04\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.98\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2.26\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2.02\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nBook value per share\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n35.35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n34.41\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n31.34\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n35.35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n31.34\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTangible book value per share (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n33.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n32.97\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n33.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet interest margin (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.65\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.58\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.81\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.62\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.83\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nAdjusted net interest margin (1)(2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.47\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.43\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.63\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.45\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.69\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nFee income ratio (non-interest income / total revenue)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19.56\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n18.63\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n21.00\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19.10\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22.47\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nEfficiency ratio (1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n62.75\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n63.76\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61.68\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n63.25\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61.85\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nReturn on average assets (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.14\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.98\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.04\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.06\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.10\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nPre-tax, pre-provision adjusted return on average assets (1)(2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.57\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.49\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.72\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.53\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.75\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nReturn on average common equity (2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14.12\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12.24\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12.58\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13.20\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13.26\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPeriod-end loans and leases receivable\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,985,414\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,910,864\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,674,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,985,414\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,674,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage loans and leases receivable\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,962,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,887,454\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,583,237\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,925,191\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,532,500\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPeriod-end core deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,309,635\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,297,843\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,073,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,309,635\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,073,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage core deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,375,101\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,346,453\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,035,856\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,360,776\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,018,327\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAllowance for credit losses, including unfunded commitment reserves\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n34,950\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n34,629\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29,697\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n34,950\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29,697\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-performing assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n19,053\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n20,146\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n15,786\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n19,053\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n15,786\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAllowance for credit losses as a percent of total gross loans and leases\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.19\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.11\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.11\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-performing assets as a percent of total assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.53\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.57\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.48\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.53\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.48\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n \n(1)\n\n \n\n \n\n \n \nThis is a non-GAAP financial measure. Management believes these measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate financial performance, provide greater understanding of ongoing operations, and enhance comparability of results with prior periods. See the section titled Non-GAAP Reconciliations at the end of this release for a reconciliation of GAAP financial measures to non-GAAP financial measures.\n\n \n\n \n\n \n \n \n(2)\n\n \n\n \n\n \n \nCalculation is annualized.\n\n \n\n \n\n \n \n Second Quarter 2024 Compared to First Quarter 2024 \n\n \nNet interest income increased $1.03 million , or 3.5%, to $30.5 million .\n\n \n \nThe increase in net interest income was driven by increases in net interest margin, average loans and leases receivable, and fees in lieu of interest. Average loans and leases receivable increased $75.5 million , or 10.5% annualized, to $2.963 billion . Fees in lieu of interest, which vary from quarter to quarter based on client-driven activity, totaled $1.2 million , compared to $793,000 in the prior quarter. Excluding fees in lieu of interest, net interest income increased $595,000 , or 2.1%.\n\n \n \nThe yield on average interest-earning assets increased 15 basis points to 6.92% from 6.77%. Excluding fees in lieu of interest, the yield earned on average interest-earning assets increased 9 basis points to 6.77% from 6.68%. The cumulative adjusted interest-earning asset beta1 since December 31, 2021 was 59.3%.\n\n \n \nThe rate paid for average interest-bearing core deposits increased 5 basis points to 4.09% from 4.04% due to ongoing competition for deposits. The rate paid for average wholesale deposits increased 6 basis points to 4.09% from 4.03%. The cumulative total bank funding beta since December 31, 2021 was 58.3%. Total bank funding is defined as total deposits plus Federal Home Loan Bank (“FHLB”) advances.\n\n \n \nNet interest margin was 3.65%, up 7 basis points compared to 3.58% in the linked quarter. Adjusted net interest margin2 was 3.47%, up 4 basis points compared to 3.43% in the linked quarter. The increase in adjusted net interest margin was driven by an increase in the yield on interest-earning assets partially offset by an increase in rate paid on interest-bearing core deposits and wholesale funding.\n\n \n \nThe Company maintains a long-term target for net interest margin in the range of 3.60%-3.65%. Performance in future quarters will vary due to factors such as the level of fees in lieu of interest and the timing, pace and scale of future interest rate changes.\n\n \n \nThe Bank reported a provision expense of $1.7 million , compared to $2.3 million in the first quarter of 2024. The quarterly decrease was driven by lower specific reserve requirements for equipment finance borrowers in the commercial and industrial (\"C&I\") loan portfolio. The $1.7 million expense consisted of $1.4 million of net charge-offs, $680,000 due to loan growth, a general reserve increase of $496,000 due to qualitative factor changes, and $150,000 related to deterioration in the economic outlook, partially offset by a decrease in specific reserves of $1.0 million . The increase in qualitative factors was primarily driven by above target growth in several loan portfolios. Charge-offs exceeded newly identified non-accrual loans in the quarter in the transportation and logistics segment of equipment finance.\n\n \nNon-interest income increased $668,000 , or 9.9%, to $7.4 million .\n\n \n \nPrivate Wealth fee income increased $350,000 , or 11.3% to $3.5 million . Private Wealth assets under management and administration measured $3.249 billion on June 30, 2024 , down $71.5 million , or 8.6% annualized from the prior quarter. Fee income is based on overall asset levels and may vary based on seasonal activity and the timing of fluctuations in market values.\n\n \n \nGains on sale of SBA loans increased $154,000 , or 79.0%, to $349,000 . Management expects the SBA loan sales pipeline to continue to build in the second half of the year as production increases and previously closed commitments fully fund and become eligible for sale.\n\n \n \nCommercial loan swap fee income of $157,000 decreased by $41,000 , or 20.7%. Swap fee income varies from period to period based on loan activity and the interest rate environment.\n\n \n \nOther fee income increased $207,000 or 14.0% to $1.7 million . The increase was primarily due to higher returns on the Company’s investments in Small Business Investment Company (\"SBIC\") mezzanine funds. Income from SBIC funds was $796,000 in the second quarter, compared to $653,000 in the linked quarter. Income from SBIC funds varies from period to period based on changes in the realized and unrealized fair value of underlying investments.\n\n \n \n \n _____________________________________ \n \n \n \n1\n\n \n\n \n\n \nThe change in yield of the respective interest-earning asset or the rate paid on interest-bearing liability compared to the change in short-term market rates is commonly referred to as a beta.\n\n \n\n \n\n \n \n \n2\n\n \n\n \n\n \nAdjusted net interest margin is a non-GAAP measure representing net interest income excluding fees in lieu of interest and other recurring, but volatile, components of net interest margin divided by average interest-earning assets less other recurring, but volatile, components of average interest-earning assets.\n\n \n\n \n\n \n \nNon-interest expense increased $537,000 , or 2.3%, to $23.9 million , while operating expense increased $693,000 , or 3.0%, to $23.8 million .\n\n \n \nCompensation expense was $16.2 million , reflecting an increase of $58,000 , or 0.4%, from the linked quarter primarily due to an expanded workforce, increased incentive compensation based on strong second quarter production, and a higher cash bonus accrual based on above-target Company performance. These increases were almost fully offset by decreases in 401(k) employer match and payroll taxes that were paid in the prior quarter on the annual cash bonus payout. Average full-time equivalents (“FTEs”) for the second quarter of 2024 were 351, up from 346 in the linked quarter. Management anticipates compensation expense will approximate this level for the remainder of 2024.\n\n \n \nComputer software expense was $1.6 million , increasing $137,000 , or 9.7%, from the linked quarter primarily due to new investments in innovative technology to support growth initiatives, enhance productivity, and improve the client experience.\n\n \n \nData processing expense was $1.2 million , increasing $164,000 , or 16.1%, from the linked quarter primarily due to an increase in core processing costs commensurate with loan and deposit account growth, Private Wealth assets under management and administration growth, and various project implementations.\n\n \n \nOther non-interest expense was $1.1 million , increasing $267,000 , or 33.5%, from the linked quarter primarily due to an increase in other non-recurring expenses and liquidation expense partially offset by a decrease in SBA recourse provision.\n\n \n \nIncome tax expense increased $165,000 , or 9.4%, to $1.9 million . The effective tax rate was 15.5% for the three months ended June 30, 2024 , compared to 16.5% for the linked quarter. The decrease reflects an increase in tax exempt loans and investments, adjustments to compensation estimates, and adjustments to estimated timing of cashflows on federal tax credit projects. The Company expects to report an effective tax rate between 16% and 18% for 2024.\n\n \nTotal period-end loans and leases receivable increased $74.6 million , or 10.3% annualized, to $2.985 billion . Management intends to continue to manage loan growth towards our long-term target of 10%. The average rate earned on average loans and leases receivable was 7.28%, up 14 basis points from 7.14% in the prior quarter. Excluding fees in lieu of interest, the average rate earned on average loans and leases receivable was 7.11%, up 8 basis points from 7.03% in the prior quarter. Additionally, $219.6 million of new and renewed loans were originated in the quarter at a weighted average yield of 8.33%, compared to $197.2 million at a weighted average yield of 7.95% in the prior quarter.\n\n \n \n Commercial Real Estate (“CRE”) loans increased by $35.6 million , or 8.2% annualized, to $1.775 billion . The increase was primarily due to an increase in construction and multi-family loans in the Wisconsin markets.\n\n \n \nCommercial & Industrial (“C&I”) loans increased $40.9 million , or 14.6% annualized, to $1.162 billion . The increase was primarily due to growth in traditional commercial lending, accounts-receivable financing, and equipment financing.\n\n \n \nTotal period-end core deposits increased $11.8 million to $2.310 billion , compared to $2.298 billion . The average rate paid was 3.34%, up 14 basis points from 3.28% in the prior quarter. Average core deposits increased $28.6 million , or 4.9%, to $2.375 billion .\n\n \n \nNew non-maturity deposit balances of $44.0 million were added at a weighted average rate of 3.05%. Certificate of deposit maturities of $151.3 million at a weighted average rate of 4.48% were replaced by new and renewed certificates of deposit of $112.1 million at a weighted average rate of 4.58%.\n\n \n \nPeriod-end wholesale funding, including FHLB advances, brokered deposits, and deposits gathered through internet deposit listing services, increased $64.1 million , or 30.6% annualized, to $853.9 million . Of the total increase, $53.0 million was short-term brokered deposits swapped into longer term fixed rate contracts. Consistent with the Bank’s long-held philosophy to manage interest rate risk, management will continue to utilize the most efficient and cost-effective source of wholesale funds to match-fund fixed-rate loans as necessary.\n\n \n \nWholesale deposits increased $118.0 million to $575.5 million , compared to $457.6 million . The average rate paid on wholesale deposits increased 6 basis points to 4.09% and the weighted average original maturity decreased to 4.0 years from 4.4 years.\n\n \n \nFHLB advances and other borrowings decreased $53.9 million to $327.9 million . The average rate paid on FHLB advances increased 30 basis points to 2.69% and the weighted average original maturity increased to 5.3 years from 4.5 years.\n\n \n \nNon-performing assets decreased $1.1 million to $19.1 million , or 0.53% of total assets, down from 0.57% in the prior quarter due to net charge-offs and payments on non-accrual loans. While we continue to expect full repayment of the one asset-based lending (ABL) loan that defaulted during the second quarter of 2023, the liquidation process has transitioned into Chapter 7 bankruptcy, likely delaying final resolution until late 2024 or 2025. Through our collection efforts, the current balance of this loan is $6.5 million , down from $10.9 million in the prior year quarter. Excluding this ABL loan, non-performing assets totaled $12.6 million , or 0.35% of total assets in the current quarter and $12.7 million , or 0.36% of total assets in the linked quarter.\n\n \nThe allowance for credit losses, including the unfunded credit commitments reserve, increased $321,000 , or 0.9%, as increases in the general reserve from loan growth, increase in qualitative and quantative factors, and new specific reserves were partially offset by charge-offs. The allowance for credit losses, including unfunded credit commitment reserves, as a percent of total gross loans and leases was 1.17% compared to 1.19% in the prior quarter.\n\n \n Second Quarter 2024 Compared to Second Quarter 2023 \n\n \nNet interest income increased $2.8 million , or 10.1%, to $30.5 million .\n\n \n \nThe increase in net interest income primarily reflects an increase in average gross loans and leases and an increase in fees in lieu of interest, partially offset by net interest margin compression. Fees in lieu of interest increased to $1.2 million from $936,000 . Excluding fees in lieu of interest, net interest income increased $2.5 million , or 9.3%.\n\n \n \nThe yield on average interest-earning assets measured 6.92% compared to 6.47%. Excluding fees in lieu of interest, the yield on average interest-earning assets measured 7.11%, compared to 6.35%. This increase in yield was primarily due to the increase in short-term market rates and the reinvestment of cash flows from the securities and fixed-rate loan portfolios in a rising rate environment. The daily average effective federal funds rate increased 34 basis points compared to the prior year quarter, which equates to an average adjusted interest-earning asset beta of 132.35% for the three months ended June 30, 2024 , compared to the prior year period.\n\n \n \nThe rate paid for average interest-bearing core deposits increased 84 basis points to 4.09% from 3.25%. The rate paid for average total bank funding increased 61 basis points to 3.39% from 2.78%. The total bank funding beta was 179.41% for the three months ended June 30, 2024 , compared to the prior year period.\n\n \n \nNet interest margin decreased 16 basis points to 3.65% from 3.81%. Adjusted net interest margin decreased 16 basis points to 3.47% from 3.63%.\n\n \n \nThe Company reported a credit loss provision expense of $1.7 million , compared to $2.2 million in the second quarter of 2023. The decrease compared to the prior year quarter is mainly due to a decrease in specific reserves related to the Equipment Finance borrowers in the commercial and industrial lending portfolio and lower loan growth, partially offset by quantative factors.\n\n \nNon-interest income increased $51,000 , or 0.7%, to $7.4 million .\n\n \n \nPrivate Wealth fee income increased $568,000 , or 19.6%, to $3.5 million . Private Wealth assets under management and administration measured $3.249 billion at June 30, 2024 , up $341.5 million , or 11.7%. The increase was due to successful new money efforts as well as market performance.\n\n \n \nCommercial loan swap fee income decreased by $820,000 , or 83.9%, to $157,000 . Swap fee income varies from period to period based on loan activity and the interest rate environment.\n\n \n \nGain on sale of SBA loans decreased $95,000 , or 21.4%, to $349,000 . Management expects the SBA loan sales pipeline to build in the second half of the year as production increases and previously closed commitments fully fund and become eligible for sale.\n\n \n \nService charges on deposits increased $185,000 , or 24.2%, to $951,000 , driven by new core deposit relationships.\n\n \n \nOther fee income increased $247,000 , or 17.2%, to $1.7 million . The increase was primarily due to higher returns on the Company’s investments in SBIC mezzanine funds in the second quarter, partially offset by a decrease in gain on sale of lease assets. Income from SBIC mezzanine funds was $796,000 in the second quarter, compared to $389,000 in the prior year quarter. Income from SBIC mezzanine funds varies from period to period based on changes in the realized and unrealized fair value of underlying investments.\n\n \n \nNon-interest expense increased $1.8 million , or 8.4%, to $23.9 million . Operating expense increased $2.1 million , or 9.8%, to $23.8 million .\n\n \n \nCompensation expense increased $1.1 million , or 7.2%, to $16.2 million . The increase in compensation expense was primarily due to an increase in average FTEs, annual merit increases, and promotions. These increases were partially offset by a decrease in share-based compensation. Average FTEs increased 3% to 351 in the second quarter of 2024, compared to 341 in the second quarter of 2023.\n\n \n \nComputer software expense increased $358,000 , or 29.9%, to $1.6 million , primarily due to new investments in innovative technology to support growth initiatives, enhance productivity, and improve the client experience.\n\n \n \nProfessional fees expense increased $232,000 , or 18.7%, to $1.5 million , primarily due to an increase in recruiting expense and a general increase in other professional consulting services for various projects.\n\n \n \nData processing expense increased $121,000 , or 11.4%, to $1.2 million , primarily due to an increase in core processing costs commensurate with loan and deposit account growth, Private Wealth assets under management and administration growth, and various project implementations.\n\n \n \nTotal period-end loans and leases receivable increased $310.8 million , or 11.6%, to $2.985 billion .\n\n \n \nCRE loans increased $183.6 million , or 11.5%, to $1.775 billion , primarily due to increases in non-owner occupied CRE and multi-family loans in the Wisconsin market.\n\n \n \nC&I loans increased $124.8 million , or 12.0%, to $1.162 billion , due to growth across the majority of the Bank’s products and geographies.\n\n \n \nTotal period-end core deposits grew $235.9 million , or 11.4%, to $2.310 billion , and the average rate paid increased 78 basis points to 3.34%. The increase in average rate paid on core deposits was primarily due to heightened competition and a change in deposit mix. Total average core deposits grew $339.2 million , or 16.7%, to $2.375 billion .\n\n \nPeriod-end wholesale funding increased $78.2 million to $853.9 million .\n\n \n \nWholesale deposits increased $120.4 million to $575.5 million , as the Bank utilized more wholesale deposits in lieu of FHLB advances to build excess liquidity and to match-fund fixed rate assets. The average rate paid on wholesale deposits decreased 15 basis points to 4.09 and the weighted average effective maturity increased to 4.0 years from 3.7 years. Consistent with our balance sheet strategy to use the most efficient and cost-effective source of wholesale funding, the Company has entered into derivative contracts which hedge a portion of the wholesale deposits to reduce the fixed rate funding costs.\n\n \n \nFHLB advances and other borrowings decreased $42.3 million to $327.9 million . The average rate paid on FHLB advances increased 2 basis points to 2.69 and the weighted average original maturity increased to 5.3 years from 5.2 years.\n\n \n \nNon-performing assets increased to $19.1 million , or 0.53% of total assets, compared to $15.8 million , or 0.48% of total assets, driven by past-due Equipment Finance loans within the C&I portfolio. Excluding one ABL loan for which we expect full repayment, non-performing assets totaled $12.6 million , or 0.35% of total assets.\n\n \nThe allowance for credit losses, including unfunded commitment reserves, increased $5.3 million to $35.0 million , compared to $29.7 million primarily due to an increase in specific reserves and loan growth, partially offset by an improvement in the economic forecast. The allowance for credit losses as a percent of total gross loans and leases was 1.17%, compared 1.11% in the prior year.\n\n \n Investor Presentation \n\n \nThe Company has prepared investor presentation materials that management intends to use from time to time in discussions about the Company’s operations and performance. The presentation will be available for viewing in the Investor Relations section of the Company’s website at firstbusiness.bank and will also be furnished to the U.S. Securities and Exchange Commission on July 25, 2024 .\n\n \nAbout First Business Bank \n\n \n First Business Bank ® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC ®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc ®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank .\n\n \nThis release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect First Business Bank’s current views with respect to future events and financial performance. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. Such statements are subject to risks and uncertainties, including among other things:\n\n \n \nAdverse changes in the economy or business conditions, either nationally or in our markets including, without limitation, inflation, economic downturn, labor shortages, wage pressures, and the adverse effects of public health events on the global, national, and local economy.\n\n \n \nCompetitive pressures among depository and other financial institutions nationally and in the Company’s markets.\n\n \n \nIncreases in defaults by borrowers and other delinquencies.\n\n \n \nManagement’s ability to manage growth effectively, including the successful expansion of our client service, administrative infrastructure, and internal management systems.\n\n \n \nFluctuations in interest rates and market prices.\n\n \n \nChanges in legislative or regulatory requirements applicable to the Company and its subsidiaries.\n\n \n \nChanges in tax requirements, including tax rate changes, new tax laws, and revised tax law interpretations.\n\n \n \nFraud, including client and system failure or breaches of our network security, including the Company’s internet banking activities.\n\n \n \nFailure to comply with the applicable SBA regulations in order to maintain the eligibility of the guaranteed portion of SBA loans.\n\n \n \nOngoing volatility in the banking sector may result in new legislation, regulations or policy changes that could subject the Company and the Bank to increased government regulation and supervision.\n\n \n \nThe proportion of the Company’s deposit account balances that exceed FDIC insurance limits may expose the Bank to enhanced liquidity risk.\n\n \n \nThe Company may be subject to increases in FDIC insurance assessments.\n\n \n \nFor further information about the factors that could affect the Company’s future results, please see the Company’s annual report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission .\n\n \n \n \n \n \n \n \n \n SELECTED FINANCIAL CONDITION DATA \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of \n\n \n\n \n\n \n \n \n (in thousands) \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n December 31 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2023 \n\n \n\n \n\n \n \n \n Assets \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCash and cash equivalents\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n81,080\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n72,040\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n139,510\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n132,915\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n112,809\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSecurities available-for-sale, at fair value\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n308,852\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n314,114\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n297,006\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n272,163\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n253,626\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nSecurities held-to-maturity, at amortized cost\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,082\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,131\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,503\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,689\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,830\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLoans held for sale\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,507\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,855\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,589\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,168\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,191\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLoans and leases receivable\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,985,414\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,910,864\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,850,261\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,764,014\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,674,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAllowance for credit losses\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(33,088\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(32,799\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(31,275\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(29,331\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(28,115\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nLoans and leases receivable, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,952,326\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,878,065\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,818,986\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,734,683\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,646,468\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPremises and equipment, net\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,381\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,268\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,190\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,157\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nRepossessed assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n54\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n317\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n247\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n65\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nRight-of-use assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,041\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,297\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,559\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,800\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,049\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nBank-owned life insurance\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n56,351\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,948\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,536\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,123\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n54,747\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Federal Home Loan Bank stock, at cost\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11,901\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13,326\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,042\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n13,528\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,482\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Goodwill and other intangible assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11,841\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n11,950\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,023\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,110\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,073\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDerivatives\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n70,773\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n69,703\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,597\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n93,702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n70,440\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccrued interest receivable and other assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n97,872\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n90,344\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n91,058\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n78,751\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n76,864\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,617,061\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,531,358\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,507,846\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,418,850\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,265,738\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Liabilities and Stockholders’ Equity \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCore deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,309,635\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,297,843\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,339,071\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,189,264\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,073,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWholesale deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n575,548\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n457,563\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n457,708\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n467,743\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n455,108\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,885,183\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,755,406\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,796,779\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,657,007\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,528,852\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Federal Home Loan Bank advances and other borrowings\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n327,855\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n381,718\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n330,916\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n363,891\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n370,113\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLease liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,361\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,664\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,954\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,236\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,499\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDerivatives\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,821\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,133\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n51,949\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n78,696\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,147\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAccrued interest payable and other liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,671\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,649\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29,660\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29,262\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,495\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,311,891\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,233,570\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,218,258\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,138,092\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,993,106\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal stockholders’ equity\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n305,170\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n297,788\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n289,588\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n280,758\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n272,632\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities and stockholders’ equity\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,617,061\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,531,358\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,507,846\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,418,850\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,265,738\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n \n STATEMENTS OF INCOME \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Three Months Ended \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Six Months Ended \n\n \n\n \n\n \n \n \n (Dollars in thousands, except per share amounts) \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n December 31 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n2023 \n\n \n\n \n\n \n \n \nTotal interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n57,910\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n55,783\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n54,762\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n50,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n47,161\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n113,693\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n89,226\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,370\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,272\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n25,222\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,345\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19,414\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n53,642\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34,773\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n30,540\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29,511\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29,540\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,596\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,747\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,051\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n54,453\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nProvision for credit losses\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,713\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,326\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,573\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,817\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,231\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,039\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,793\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet interest income after provision for credit losses\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,827\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,185\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,967\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,779\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n25,516\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n56,012\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n50,660\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPrivate wealth management service fees\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,461\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,111\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,933\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,945\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,893\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,571\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,547\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nGain on sale of SBA loans\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n349\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n195\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n284\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n851\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n444\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n544\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n920\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nService charges on deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n951\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n940\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n848\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n835\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n766\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,890\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,448\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLoan fees\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n826\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n847\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n869\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n786\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n905\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,708\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nLoss on sale of securities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(8\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(8\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(45\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nSwap fees\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n157\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n198\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n438\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n992\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n977\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n355\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,534\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther non-interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,681\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,474\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,722\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,021\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,434\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,156\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,672\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal non-interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,425\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,757\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,430\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,374\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,182\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,784\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCompensation\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,157\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,450\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,573\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,129\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n32,372\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31,037\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOccupancy\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n593\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n607\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n571\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n575\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n603\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,200\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,234\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nProfessional fees\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,472\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,571\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,313\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,429\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,240\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,043\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nData processing\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,182\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,018\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n936\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n953\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,061\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,200\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,936\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nMarketing\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n850\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n818\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n724\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n758\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n779\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,669\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,407\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nEquipment\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n335\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n345\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n340\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n349\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n355\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n680\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n650\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nComputer software\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,555\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,418\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,317\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,289\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,197\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,973\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,379\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n FDIC insurance\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n612\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n610\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n585\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n680\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n580\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,222\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n974\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther non-interest expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,065\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n798\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,352\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,087\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,863\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,598\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal non-interest expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,879\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,342\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n21,588\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,189\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,031\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n47,222\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n43,798\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIncome before income tax expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,373\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,600\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,473\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,020\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,859\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,972\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,646\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIncome tax expense\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,917\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,703\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,079\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,522\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,668\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,330\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,456\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,848\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,770\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,337\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n19,304\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n17,316\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPreferred stock dividends\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n218\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n438\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n438\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income available to common shareholders\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,237\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,629\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,551\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,723\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n18,866\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n16,878\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPer common share:\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nBasic earnings\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.23\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.04\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.15\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.98\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2.26\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2.02\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDiluted earnings\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.23\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.04\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.15\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.98\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.26\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.02\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nDividends declared\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2500\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2500\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2275\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2275\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.2275\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.5000\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.4550\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nBook value\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35.35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34.41\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.39\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n32.32\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31.34\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35.35\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31.34\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTangible book value\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n32.97\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31.94\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n30.87\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n33.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWeighted-average common shares\noutstanding(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,113,246\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,125,319\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,110,462\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,107,641\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,061,841\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,154,445\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,140,831\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWeighted-average diluted common shares\noutstanding(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,113,246\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,125,319\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,110,462\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,107,641\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,061,841\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,154,445\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,140,831\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n(1)\n\n \n\n \n\n \n \nExcluding participating securities.\n\n \n\n \n\n \n \n \n \n \n \n \n \n \n NET INTEREST INCOME ANALYSIS \n\n \n\n \n\n \n \n \n \n \n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n For the Three Months Ended \n\n \n\n \n\n \n \n \n (Dollars in thousands) \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30, 2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31, 2024 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30, 2023 \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nBalance \n\n \n\n \n\n \n \n\n \n\n \n\n \n Interest \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nYield/Rate(4) \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nBalance \n\n \n\n \n\n \n \n\n \n\n \n\n \n Interest \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nYield/Rate(4) \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nBalance \n\n \n\n \n\n \n \n\n \n\n \n\n \n Interest \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\nYield/Rate(4) \n\n \n\n \n\n \n \n \n Interest-earning assets \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCommercial real estate and\nother mortgage loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,765,743\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29,299\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.64\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,721,186\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n28,120\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.54\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,546,487\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n23,671\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.12\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nCommercial and industrial\nloans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,146,312\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,869\n\n \n\n \n\n \n \n\n \n\n \n\n \n8.33\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,115,724\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,724\n\n \n\n \n\n \n \n\n \n\n \n\n \n8.15\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n987,534\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n20,020\n\n \n\n \n\n \n \n\n \n\n \n\n \n8.11\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nConsumer and other loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n50,872\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n725\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.70\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n50,544\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n705\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.58\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n49,216\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n588\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.78\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal loans and leases\nreceivable(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,962,927\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n53,893\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.28\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,887,454\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n51,549\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.14\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,583,237\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44,279\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.86\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nMortgage-related securities(2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n261,828\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,609\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.99\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n241,940\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,276\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.76\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n192,564\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,421\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.95\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther investment securities(3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,780\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n443\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n67,980\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n518\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.05\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n60,790\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n392\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.58\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFHLB stock\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,656\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n291\n\n \n\n \n\n \n \n\n \n\n \n\n \n9.20\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,271\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n282\n\n \n\n \n\n \n \n\n \n\n \n\n \n9.19\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,844\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n302\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.62\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nShort-term investments\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n48,836\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n674\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.52\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n85,072\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,158\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.44\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61,316\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n767\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.00\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,347,027\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,910\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,294,717\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n55,783\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.77\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,913,751\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n47,161\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.47\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n245,188\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n233,224\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n213,483\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,592,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,527,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,127,234\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Interest-bearing liabilities \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTransaction accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n880,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,737\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.97\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n862,896\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,447\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.92\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n670,698\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,455\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nMoney market\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n815,846\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,264\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.05\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n761,893\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,565\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.97\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n633,817\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,617\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.91\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCertificates of deposit\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n241,535\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,803\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.64\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n278,248\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,210\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.61\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n295,785\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,946\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.98\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWholesale deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n476,149\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,871\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.09\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n457,536\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,615\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.03\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n332,387\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,523\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.24\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-bearing\ndeposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,414,282\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24,675\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.09\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,360,573\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n23,837\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.04\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,932,687\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,541\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.42\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFHLB advances\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n294,043\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,974\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.69\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n287,307\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,717\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.39\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n367,129\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,452\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.67\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther borrowings\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n49,481\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n721\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.83\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n49,457\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n718\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.81\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34,538\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n421\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.88\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-bearing\nliabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,757,806\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,370\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.97\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,697,337\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,272\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.90\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,334,354\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19,414\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.33\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-interest-bearing demand\ndeposit accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n436,968\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n443,416\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n435,556\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther non-interest-bearing\nliabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n95,484\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n93,307\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n87,148\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,290,258\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,234,060\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,857,058\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nStockholders’ equity\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n301,957\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n293,881\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n270,176\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal liabilities and\nstockholders’ equity\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,592,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,527,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,127,234\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,540\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n29,511\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,747\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInterest rate spread\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.95\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2.88\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.15\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNet interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n589,221\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n597,380\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n579,397\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet interest margin\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.65\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.58\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.81\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n \n(1)\n\n \n\n \n\n \n \nThe average balances of loans and leases include non-accrual loans and leases and loans held for sale. Interest income related to non-accrual loans and leases is recognized when collected. Interest income includes net loan fees collected in lieu of interest.\n\n \n\n \n\n \n \n \n(2)\n\n \n\n \n\n \n \nIncludes amortized cost basis of assets available for sale and held to maturity.\n\n \n\n \n\n \n \n \n(3)\n\n \n\n \n\n \n \n\n \n\n \n\n \nYields on tax-exempt municipal obligations are not presented on a tax-equivalent basis in this table.\n\n \n\n \n\n \n \n \n(4)\n\n \n\n \n\n \n \n\n \n\n \n\n \nRepresents annualized yields/rates.\n\n \n\n \n\n \n \n \n \n \n \n\n \n\n \n\n \nFor the Six Months Ended June 30 ,\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2024\n\n \n\n \n\n \n \n\n \n\n \n\n \n2023\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \nAverage\nBalance\n\n \n\n \n\n \n \n\n \n\n \n\n \nInterest\n\n \n\n \n\n \n \n\n \n\n \n\n \nAverage\nYield/Rate(4)\n\n \n\n \n\n \n \n\n \n\n \n\n \nAverage\nBalance\n\n \n\n \n\n \n \n\n \n\n \n\n \nInterest\n\n \n\n \n\n \n \n\n \n\n \n\n \nAverage\nYield/Rate(4)\n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(Dollars in Thousands)\n\n \n\n \n\n \n \n \n Interest-earning assets \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCommercial real estate and other\nmortgage loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,743,465\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n57,419\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.59\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,532,348\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n45,389\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.92\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nCommercial and industrial loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,131,018\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n46,593\n\n \n\n \n\n \n \n\n \n\n \n\n \n8.24\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n952,192\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n37,577\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nConsumer and other loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n50,708\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,430\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.64\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n47,960\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,128\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.70\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal loans and leases receivable(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,925,191\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n105,442\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.21\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,532,500\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n84,094\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.64\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nMortgage-related securities(2)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n251,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,885\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.88\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n187,556\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,691\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.87\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther investment securities(3)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n64,380\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n961\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.99\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n58,270\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n712\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.44\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFHLB and FRB stock\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,464\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n574\n\n \n\n \n\n \n \n\n \n\n \n\n \n9.21\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,481\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n629\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.63\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nShort-term investments\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n66,953\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,831\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.47\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n45,022\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,100\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,320,872\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n113,693\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.85\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,839,829\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n89,226\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.28\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n239,206\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n216,482\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,560,078\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,056,311\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Interest-bearing liabilities \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTransaction accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n871,824\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n17,184\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.94\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n619,352\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,295\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.00\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nMoney market accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n788,869\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,829\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.01\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n666,385\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,114\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.74\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nCertificates of deposit\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n259,891\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,013\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.63\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n266,099\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,064\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.81\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWholesale deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n466,843\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,486\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.06\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n260,485\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,498\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.22\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-bearing deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,387,427\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n48,512\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.06\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,812,321\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28,971\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.20\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nFHLB advances\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n290,675\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,691\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.54\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n382,533\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,913\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.57\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nOther borrowings\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n49,469\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,439\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.82\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n35,660\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n889\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.99\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTotal interest-bearing liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,727,571\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n53,642\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.93\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,230,514\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34,773\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.12\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNon-interest-bearing demand\ndeposit accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n440,192\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n466,491\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \...

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