First Business Bank Reports Third Quarter 2023 Net Income of $9.7 Million

About this update from First Business Financial Services, Inc.

[{"type":"text","content":" \n-- Robust pre-tax pre-provision earnings supported by strong balance sheet growth and diversified revenue --\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 $9.7 million , or earnings per share of $1.17 on a diluted basis. This compares to net income available to common shareholders of $8.1 million , or $0.98 per share, in the second quarter of 2023 and $10.6 million , or $1.25 per share, in the third quarter of 2022.\n\n \n“First Business Bank again delivered exceptional double-digit loan and in-market deposit growth during the third quarter, which supports our long-term objectives of revenue expansion and deepening client relationships,” said Corey Chambas , Chief Executive Officer. “We continue to diversify our drivers of profitability, including client deposit initiatives to grow treasury management sales and tax credit opportunities with commercial real estate clients, which have effectively lowered our tax rate while also benefiting the communities where we live and serve. With bottom line earnings up nearly 20% from the second quarter, we are pleased to have generated 13% annualized growth in tangible book value per share, a key measure of shareholder value.”\n\n \n“Solid strategic planning and outstanding execution have allowed us to grow both loans and deposits in excess of 10% over the last several years,” Chambas added. “Our recent completion of a $15 million subordinated debt offering bolstered our capacity to continue pursuing quality loan and deposit growth. We continue to evaluate loan sale strategies, and we expect overall loan growth to moderate in 2024 as we manage to our long-term target of 10%.”\n\n \n Quarterly Highlights \n\n \n \n Strong Deposit Growth. Total deposits grew $128.2 million , increasing 20.3% annualized from the second quarter and $569.5 million , or 27.3% from the third quarter of 2022. In-market deposits grew to a record $2.189 billion , up $115.5 million , or 22.3% annualized, from the second quarter and $260.0 million , or 13.5% from the third quarter of 2022. Strong seasonal client deposit activity contributed to increased gross treasury management service charges, which grew 14.5% to $1.5 million , compared to the third quarter of 2022.\n\n \n \n Robust Loan Growth. Loans grew $89.4 million , or 13.4% annualized, from the second quarter of 2023, and $433.3 million , or 18.6%, from the third quarter of 2022, reflecting ongoing expansion across the Company’s products and geographies in the third quarter.\n\n \n \n Net Interest Income Expansion. Net interest income grew 3.1% from the linked quarter and 10.5% from the prior year quarter. Consistent execution of the Company’s strategy to drive diversified loan portfolio growth supported this expansion even as industry-wide net interest margin compression continued. Net interest margin of 3.76% declined five basis points from the linked quarter. Importantly, adjusted1 net interest margin of 3.66% increased three basis points from the linked quarter.\n\n \n \n Strong Pre-Tax, Pre-Provision (“PTPP”) Income. PTPP income grew to $14.1 million , up 4.5% from the prior quarter. This performance reflects solid growth across the Company’s balance sheet and diversified sources of non-interest income. PTPP adjusted return on average assets measured 1.72% for the current and linked quarter.\n\n \n \n Tangible Book Value Growth. The Company’s strong earnings generation produced a 13.0% annualized increase in tangible book value per share compared to the linked quarter and 13.8% compared to the prior year quarter.\n\n \n \n Quarterly Financial Results \n\n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Three Months Ended \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Nine Months Ended \n\n \n\n \n\n \n \n \n (Dollars in thousands, except per share amounts) \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2022 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2022 \n\n \n\n \n\n \n \n \nNet interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n28,596\n\n \n\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 \n25,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n83,049\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n70,971\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 \n8,430\n\n \n\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 \n8,197\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 \n24,259\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,455\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 \n37,026\n\n \n\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 \n34,081\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n107,308\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n93,426\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 \n22,943\n\n \n\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 \n19,925\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n66,414\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 \n58,497\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 \n14,083\n\n \n\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 \n14,156\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 \n40,894\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34,929\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 \n1,817\n\n \n\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 \n12\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,610\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4,569\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n \nNet loss (gain) on repossessed assets\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\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 \n7\n\n \n\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\n\n \n\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\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 \n242\n\n \n\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 \n96\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n565\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n134\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nTax credit investment impairment recovery\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(351\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 \n—\n\n \n\n \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—\n\n \n\n \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—\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 \n12,020\n\n \n\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 \n14,041\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 \n34,666\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n39,688\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 \n2,079\n\n \n\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 \n3,215\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 \n7,409\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,986\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$\n\n \n\n \n\n \n9,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n8,337\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,826\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,257\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPreferred stock dividends\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n218\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n218\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n656\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n464\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income available to common shareholders\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,723\n\n \n\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 \n10,608\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n26,601\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,238\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$\n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n0.98\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3.19\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3.57\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nBook value per share\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n32.32\n\n \n\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 \n28.58\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n32.32\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n28.58\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$\n\n \n\n \n\n \n30.87\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n27.13\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30.87\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27.13\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\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 \n3.76\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 \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 \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 \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 \n3.71\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 \n3.66\n\n \n\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 \n3.89\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 \n3.68\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 \n3.53\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 \n22.77\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 \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 \n24.05\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 \n22.57\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 \n24.04\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 \n61.96\n\n \n\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 \n58.46\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n61.89\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 \n62.61\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 \n1.19\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 \n1.04\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 \n1.54\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 \n1.13\n\n \n\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 \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 \n1.72\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 \n1.72\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 \n2.05\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 \n1.74\n\n \n\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 \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 \n14.62\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 \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 \n17.44\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 \n13.72\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 \n16.97\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 \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\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 \n2,764,014\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,674,583\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,330,700\n\n \n\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 \n2,330,700\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$\n\n \n\n \n\n \n2,711,851\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n2,316,621\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,592,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,278,333\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPeriod-end in-market deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n2,073,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,929,224\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,189,264\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,929,224\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAverage in-market deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,105,716\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n1,930,995\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,047,776\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,921,465\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nAllowance for credit losses, including unfunded commitment reserves\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n31,036\n\n \n\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 \n24,143\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n31,036\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n24,143\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$\n\n \n\n \n\n \n17,689\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n15,786\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,796\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n17,689\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 \n3,796\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 \n1.12\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 \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 \n1.04\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 \n1.12\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 \n1.04\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 \n0.52\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 \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 \n0.13\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.52\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 \n0.13\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \n (1) \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 (2) \n \n \nCalculation is annualized.\n\n \n\n \n\n \n \n Third Quarter 2023 Compared to Second Quarter 2023 \n\n \nNet interest income increased $849,000 , or 3.1%, to $28.6 million .\n\n \n \nThe increase in net interest income was driven by an increase in average loans and leases receivable, partially offset by a decrease in fees in lieu of interest. Average loans and leases receivable increased $128.6 million , or 19.9% annualized, to $2.712 billion . Fees in lieu of interest, which vary from quarter to quarter based on client-driven activity, totaled $582,000 , compared to $936,000 in the prior quarter. Excluding fees in lieu of interest, net interest income increased $1.2 million , or 4.5%.\n\n \n \nThe yield on average interest-earning assets increased 24 basis points to 6.71% from 6.47%. Excluding fees in lieu of interest, the yield earned on average interest-earning assets increased 28 basis points to 6.63% from 6.35%. The daily average effective federal funds rate increased 27 basis points compared to the linked quarter, which equates to an average adjusted interest-earning asset beta of 104.8% for the three months ended September 30, 2023 , compared to 73.9% in the linked quarter. The cumulative adjusted interest-earning asset beta since December 31, 2021 was 59.7%. The 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 \nThe rate paid for average interest-bearing, in-market deposits increased 49 basis points to 3.74% from 3.25% due to the acceleration of exception pricing and the shift of client balances from non-interest bearing deposits to certificates of deposit and interest-bearing demand deposit accounts. Similarly, the rate paid for average total bank funding increased 29 basis points to 3.07% from 2.78%. Total bank funding is defined as total deposits plus Federal Home Loan Bank (“FHLB”) advances. The total bank funding beta was 107.5% for the three months ended September 30, 2023 , compared to 98.9% in the linked quarter. The cumulative bank funding beta since December 31, 2021 was 52.9%.\n\n \n \nNet interest margin was 3.76%, down 5 basis points compared to 3.81% in the linked quarter. Adjusted net interest margin1 was 3.66%, up 3 basis points compared to 3.63% in the linked quarter. The increase in adjusted net interest margin was due to an increase in the yield on average adjusted interest earning assets, partially offset by the rate paid on total bank funding.\n\n \n \nThe Bank anticipates deposit betas may continue to rise and net interest margin may continue to decline at a gradual pace in coming quarters as the Federal Open Market Committee approaches a terminal federal funds rate. Based on current trends, we believe our net interest margin should stabilize above our existing strategic plan goal of 3.50%.\n\n \n \nThe Bank reported a provision expense of $1.8 million , compared to $2.2 million in the second quarter of 2023. The third quarter provision expense included increases of $1.3 million in net specific reserves, $817,000 due to exceptional loan growth, net charge-offs of $478,000 , and qualitative factor changes of $506,000 . This expense was partially offset by a $1.4 million reduction in general reserve due to an improved economic outlook in our model forecast compared to the prior period. Similar to the second quarter, the increase in specific reserves, charge-offs, and qualitative factors was primarily related to the Equipment Finance and SBA Lending loan pools, which management believes is consistent with the cyclical nature of these commercial lending niches.\n\n \nNon-interest income increased $1.1 million , or 14.3%, to $8.4 million .\n\n \n \nPrivate Wealth and Company Retirement Plan (“Private Wealth”) fee income increased $52,000 , or 1.8% to $2.9 million . Private Wealth assets under management and administration measured $2.915 billion on September 30, 2023 , up $7.5 million from the prior quarter.\n\n \n \nGains on sale of SBA loans increased $407,000 , or 91.7%, to $851,000 driven by volume of loan sales.\n\n \n \nOther fee income increased $587,000 to $2.0 million , compared to $1.4 million in the prior quarter. The increase was primarily due to higher returns on the Company’s investments in mezzanine funds in the third quarter. Income from mezzanine funds was $1.2 million in the third quarter, compared to $389,000 in the linked quarter. Income from mezzanine funds varies from period to period based on changes in the value of underlying investments. Investment values are primarily reflected in our results semiannually, in the first and third quarters.\n\n \n \nLoan fee income decreased $119,000 , or 13.1%, to $786,000 primarily due to a decrease in Asset-Based Lending (“ABL”) audit fee income.\n\n \n \n \n _____________ \n \n \n \n1 Adjusted 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 $1.2 million , or 5.3%, to $23.2 million , while operating expense increased $1.3 million , or 5.8%, to $22.9 million .\n\n \n \nCompensation expense was $15.6 million , reflecting an increase of $444,000 , or 2.9%, from the linked quarter primarily due to a $510,000 increase in the annual cash incentive bonus and profit sharing accruals and an increase in employee salaries. This increase was partially offset by a decrease in share-based compensation following the second quarter vesting of performance-based restricted stock units (“PRSU”). Average full-time equivalents (FTEs) for the third quarter of 2023 were 349, up from 341 in the linked quarter.\n\n \n \nProfessional fees were $1.4 million , increasing $189,000 , or 15.2%, from the linked quarter primarily due to an increase in recruiting expenses.\n\n \n \n FDIC insurance expense was $680,000 , increasing $100,000 , or 17.2%, from the linked quarter primarily due to an increase in the assessment rate and the assessable base.\n\n \n \nOther non-interest expense increased $496,000 , or 45.6%, to $1.6 million from the linked quarter primarily due to a $693,000 increase in liquidation expense related to an ABL loan relationship. In past resolutions, the Bank has been able to recover similar liquidation expenses. These increases were partially offset by a decrease in travel expense and a loss on disposal of fixed assets in the prior quarter.\n\n \n \nIncome tax expense decreased $443,000 , or 17.6%, to $2.1 million . The effective tax rate was 17.3% for the three months ended September 30, 2023 , compared to 23.2% for the linked quarter. Both periods benefited from net tax credits of $797,000 and $150,000 in the current and linked quarters, respectively. Based on expected earnings and future tax credit investments, the Company expects to report an effective tax rate between 21% and 22% for 2023 and between 20% and 21% for 2024.\n\n \nTotal period-end loans and leases receivable increased $89.4 million , or 13.4% annualized, to $2.764 billion . Management expects loan growth to moderate to our long term target of 10% in future quarters. Additionally, management is evaluating loan sale and participation strategies as a means of adding to and further diversifying fee income. The average rate earned on average loans and leases receivable was 7.06%, up 20 basis points from 6.86% in the prior quarter.\n\n \n \n Commercial Real Estate (“CRE”) loans increased by $43.6 million , or 11.0% annualized, to $1.635 billion . The increase was primarily due to an increase in non-owner occupied CRE and multi-family loans.\n\n \n \nCommercial & Industrial (“C&I”) loans increased $46.8 million , or 18.0% annualized, to $1.084 billion . The increase was due to growth across the majority of the Bank’s C&I products and geographies.\n\n \n \nTotal period-end in-market deposits increased $115.5 million , or 22.3% annualized, to $2.189 billion , compared to $2.074 billion . The average rate paid was 2.97%, up 41 basis points from 2.56% in the prior quarter.\n\n \n \nThe increase was due to growth in interest-bearing transaction accounts, money market accounts, and non-interest bearing transaction accounts, partially offset by a decrease in certificates of deposit.\n\n \n \nPeriod-end wholesale funding, including FHLB advances, brokered deposits, and deposits gathered through internet deposit listing services, decreased $8.6 million , or 4.4% annualized, to $782.2 million .\n\n \n \nWholesale deposits increased $12.6 million to $467.7 million , compared to $455.1 million as the Bank continued to replace FHLB advances with wholesale deposits consistent with the Company’s long-held philosophy to manage interest rate risk by utilizing the most efficient and cost-effective source of wholesale funds to match-fund fixed-rate loans. The average rate paid on wholesale deposits decreased 17 basis points to 4.07% and the weighted average original maturity increased to 4.0 years from 3.7 years.\n\n \n \nFHLB advances decreased $21.2 million to $314.5 million . The average rate paid on FHLB advances decreased 19 basis points to 2.48% and the weighted average original maturity was 5.2 years for both periods.\n\n \n \nNon-performing assets increased $1.9 million to $17.7 million , or 0.52% of total assets, up from 0.48% in the prior quarter driven by Equipment Finance loans within the C&I portfolio. We continue to expect full repayment of the one ABL loan that defaulted during the second quarter of 2023. Excluding the ABL loan, non-performing assets totaled $8.1 million , or 0.24% of total assets in the current quarter and $4.9 million , or 0.15% of total assets in the linked quarter. The increase in the Equipment Finance pool, for which defaults and liquidations are not atypical, was due to a cyclical increase in past-due balances.\n\n \nThe allowance for credit losses, including unfunded credit commitments reserve, increased $1.3 million , or 4.5%, as increases in specific reserves, the general reserve from loan growth, and qualitative factors were partially offset by a decrease in the general reserve due to an improved economic outlook in our model forecast. The allowance for credit losses, including unfunded credit commitment reserves, as a percent of total gross loans and leases was 1.12% compared to 1.11% in the prior quarter.\n\n \n Third Quarter 2023 Compared to Third Quarter 2022 \n\n \nNet interest income increased $2.7 million , or 10.5%, to $28.6 million .\n\n \n \nThe increase in net interest income primarily reflects an increase in average gross loans and leases, partially offset by lower fees in lieu of interest and net interest margin compression. Fees in lieu of interest decreased from $807,000 to $582,000 . Excluding fees in lieu of interest, net interest income increased $2.9 million , or 11.7%.\n\n \n \nThe yield on average interest-earning assets measured 6.71% compared to 4.92%. Excluding fees in lieu of interest, the yield on average interest-earning assets measured 6.63%, compared to 4.80%. 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 308 basis points compared to the prior year quarter, which equates to an average adjusted interest-earning asset beta of 59.5% for the three months ended September 30, 2023 , compared to the prior year period.\n\n \n \nThe rate paid for average interest-bearing in-market deposits increased 286 basis points to 3.74% from 0.88%. The rate paid for average total bank funding increased 218 basis points to 3.07% from 0.89%. The total bank funding beta was 70.8% for the three months ended September 30, 2023 , compared to the prior year period.\n\n \n \nNet interest margin decreased 25 basis points to 3.76% from 4.01%. Adjusted net interest margin decreased 23 basis points to 3.66% from 3.89%.\n\n \n \nThe Company reported a provision expense of $1.8 million , compared to $12,000 in the third quarter of 2022. The prior year period provision benefited from net recoveries.\n\n \nNon-interest income of $8.4 million increased by $233,000 , or 2.8%, from $8.2 million in the prior year period.\n\n \n \nPrivate Wealth fee income increased $327,000 , or 12.5%, to $2.9 million . Private Wealth assets under management and administration measured $2.915 billion at September 30, 2023 , up $422.0 million , or 16.9%.\n\n \n \nCommercial loan swap fee income of $992,000 increased by $651,000 , or 190.9%. 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 increased $119,000 , or 16.3%, to $851,000 .\n\n \n \nService charges on deposits decreased $183,000 , or 18.0%, to $835,000 , driven by an increase in the earnings credit rate commensurate with the rising rate environment.\n\n \n \nOther fee income decreased $653,000 , or 24.4%, to $2.0 million , primarily due to higher returns on the Company’s investments in mezzanine funds and a gain on customer lease restructuring in the prior year quarter. Income from mezzanine funds was $1.2 million in the third quarter, compared to $1.4 million in the prior year quarter. Income on mezzanine funds varies from period to period based on changes in the value of underlying investments.\n\n \n \nNon-interest expense increased $3.2 million , or 15.8%, to $23.2 million . Operating expense increased $3.0 million , or 15.1%, to $22.9 million .\n\n \n \nCompensation expense increased $756,000 , or 5.1%, to $15.6 million . The increase in compensation expense was primarily due to an increase in average FTEs, annual merit increases and promotions, and incentive compensation due to outstanding production, partially offset by a lower estimated annual incentive cash bonus program accrual. Average FTEs increased 5% to 349 in the third quarter of 2023, compared to 333 in the third quarter of 2022, as a result of expanded hiring efforts that have successfully driven growth while maintaining positive operating leverage.\n\n \n \n FDIC insurance increased $450,000 , or 195.7%, to $680,000 , primarily due to an increase in the assessment rate and the assessable base.\n\n \n \nData processing expense increased $234,000 , or 32.5%, to $953,000 , primarily due to an increase in core processing costs commensurate with loan and deposit account growth, as well as various project implementations.\n\n \n \nProfessional fees expense increased $226,000 , or 18.8%, to $1.4 million , primarily due to an increase in recruiting expense and a general increase in other professional consulting services for various projects.\n\n \n \nMarketing expense increased $215,000 , or 39.6%, to $758,000 , primarily due to an increase in business development efforts and advertising projects commensurate with our expanded sales force.\n\n \n \nTotal period-end loans and leases receivable increased $433.3 million , or 18.6%, to $2.764 billion .\n\n \n \nC&I loans increased $283.6 million , or 35.4% to $1.084 billion , due to growth across all products and geographies.\n\n \n \nCRE loans increased $150.4 million , or 10.1%, to $1.635 billion , primarily due to increases in non-owner occupied CRE and multi-family loans.\n\n \n \nTotal period-end in-market deposits grew $260.0 million , or 13.5%, to $2.189 billion , and the average rate paid increased 236 basis points to 2.97%. The increase in in-market deposits was principally due to a $317.9 million and $124.6 million increase in interest bearing transaction accounts and certificates of deposits, respectively. This increase was partially offset by a $134.1 million and $48.3 million decrease in non-interest bearing deposit accounts and money market accounts, respectively.\n\n \nPeriod-end wholesale funding increased $246.1 million to $782.2 million .\n\n \n \nWholesale deposits increased $309.4 million to $467.7 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 increased 161 basis points to 4.07% and the weighted average original maturity increased to 4.0 years from 0.3 years. Consistent with our balance sheet strategy to use the most efficient and cost effective source of wholesale funding, the Company has entered into several derivative contracts hedging a portion of the wholesale deposits to reduce the fixed rate funding costs.\n\n \n \nFHLB advances decreased $63.3 million to $314.5 million . The average rate paid on FHLB advances increased 47 basis points to 2.48% and the weighted average original maturity increased to 5.2 years from 4.8 years.\n\n \n \nNon-performing assets increased to $17.7 million , or 0.52% of total assets, compared to $3.8 million , or 0.13% of total assets, driven by one loan in the ABL portfolio and Equipment Finance loans within the C&I portfolio. Excluding the one ABL loan, which defaulted during the second quarter of 2023, non-performing assets totaled $8.1 million , or 0.24% of total assets.\n\n \nThe allowance for credit losses, including unfunded commitment reserves, increased $6.9 million to $31.0 million , compared to $24.1 million due to loan growth, an increase in specific reserves, and a change in accounting standard. The allowance for credit losses as a percent of total gross loans and leases was 1.12%, compared to the allowance for loan losses of 1.04% under the incurred loss model.\n\n \n Share Repurchase Program Update \n\n \nAs previously announced, effective January 27, 2023 , the Company’s Board of Directors authorized the repurchase by the Company of shares of its common stock with a maximum aggregate purchase price of $5.0 million , effective January 31, 2023 through January 31, 2024 . As of September 30, 2023 , the Company had repurchased a total of 65,112 shares for approximately $2.0 million at an average cost of $30.72 per share. The Company expects to continue its pause of the repurchase program, instead allocating capital to support continued exceptional balance sheet growth.\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 October 27, 2023 .\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, supply chain issues, labor shortages, or any future public health epidemics.\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 \nRecent volatility in the banking sector may result in new legislation, regulations or policy changes that could subject the Corporation and the Bank to increased government regulation and supervision.\n\n \n \nThe proportion of the Corporation’s deposit account balances that exceed FDIC insurance limits may expose the Bank to enhanced liquidity risk.\n\n \n \nThe Corporation may be subject to increases in FDIC insurance assessments as a result of the recent bank failures.\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, 2022 and other filings with the Securities and Exchange Commission .\n\n \n \n \n SELECTED FINANCIAL CONDITION DATA \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 September 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n December 31 ,\n 2022 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2022 \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 \n132,915\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n112,809\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n185,973\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n102,682\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n110,965\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n236,989\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n212,024\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n196,566\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n11,461\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,635\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 \n13,531\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n2,697\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 \n2,632\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n773\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 \n2,764,014\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\n \n\n \n\n \n \n\n \n\n \n\n \n2,539,363\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,443,066\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,330,700\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(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\n \n\n \n\n \n \n\n \n\n \n\n \n(26,140\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(24,230\n\n \n\n \n\n \n)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(24,143\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 \n2,734,683\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\n \n\n \n\n \n \n\n \n\n \n\n \n2,513,223\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,418,836\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,306,557\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 \n6,157\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\n \n\n \n\n \n \n\n \n\n \n\n \n4,933\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,340\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,143\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n89\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n95\n\n \n\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 \nRight-of-use assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,800\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\n \n\n \n\n \n \n\n \n\n \n\n \n7,355\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,690\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,424\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 \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 \n\n \n\n \n \n\n \n\n \n\n \n54,383\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n54,018\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 \n54,683\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 \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 \n\n \n\n \n \n\n \n\n \n\n \n13,088\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 \n17,812\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,701\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n12,160\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,159\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,218\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n54,612\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n68,581\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n73,718\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n67,448\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n63,107\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,372\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$\n\n \n\n \n\n \n3,418,850\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n3,164,411\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,976,611\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,850,802\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n Liabilities and Stockholders’ Equity \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nIn-market deposits\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n2,073,744\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,054,752\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,965,970\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,929,224\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n422,088\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 \n202,236\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 \n158,321\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 \n2,657,007\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 \n\n \n\n \n \n\n \n\n \n\n \n2,476,840\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,168,206\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 \n2,087,545\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n341,859\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 \n456,808\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n420,297\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n9,822\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,175\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,827\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n49,012\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 \n61,419\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 \n66,162\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n20,297\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 \n19,363\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,967\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 \n3,138,092\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\n \n\n \n\n \n \n\n \n\n \n\n \n2,897,830\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,715,971\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,597,798\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n266,581\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n260,640\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n253,004\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$\n\n \n\n \n\n \n3,418,850\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n3,164,411\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,976,611\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,850,802\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n \n STATEMENTS OF INCOME \n\n \n\n \n\n \n \n \n \n \n \n \n \n \n \n (Unaudited) \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Three Months Ended \n\n \n\n \n\n \n \n\n \n\n \n\n \n As of and for the Nine Months Ended \n\n \n\n \n\n \n \n \n (Dollars in thousands, except per share amounts) \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n June 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n March 31 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n December 31 ,\n 2022 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2022 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30 ,\n 2022 \n\n \n\n \n\n \n \n \nTotal interest income\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \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 \n42,064\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n38,319\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n31,786\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n140,167\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n83,053\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 \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 \n15,359\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n10,867\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,902\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,118\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 \n12,082\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 \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 \n26,705\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27,452\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n25,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n83,049\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n70,971\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 \n1,817\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 \n1,561\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,610\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n(4,569\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 \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 \n25,144\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n26,750\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n25,872\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n77,439\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n75,540\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 \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 \n2,654\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,570\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,618\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,492\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,311\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 \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 \n476\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n269\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n732\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,771\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,269\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 \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 \n682\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n791\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 \n2,283\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,058\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 \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 \n803\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 \n814\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,495\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,163\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(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—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \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—\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 \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 \n557\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n756\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 \n2,526\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,038\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 \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 \n3,238\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,740\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,692\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 \n5,616\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 \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 \n8,410\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,973\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,197\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n24,214\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n22,455\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 \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 \n15,908\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n15,267\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,817\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n46,610\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n42,475\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 \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 \n631\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n669\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n566\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,809\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,689\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 \n1,429\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 \n1,343\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,210\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,203\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,012\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 \n3,671\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 \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 \n875\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n806\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n719\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,889\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,391\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 \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 \n628\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n641\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n543\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,165\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,713\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 \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 \n295\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n359\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n253\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,000\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n732\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 \n1,289\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 \n1,183\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,089\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 \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 \n3,327\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 \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 \n394\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n203\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n230\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,653\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n840\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 \n1,583\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 \n510\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n923\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n569\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,181\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,469\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 \n23,189\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 \n21,767\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n21,167\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n20,028\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n66,987\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n58,307\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 \n12,020\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 \n11,787\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,556\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,041\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n34,666\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n39,688\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 \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 \n2,808\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,400\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,215\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,409\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,986\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$\n\n \n\n \n\n \n9,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n8,979\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,156\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,826\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n27,257\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nPreferred stock dividends\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n218\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n219\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n218\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n656\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n464\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nNet income available to common shareholders\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \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 \n8,760\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n9,937\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n10,608\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n26,601\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n30,238\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$\n\n \n\n \n\n \n1.17\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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$\n\n \n\n \n\n \n1.05\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.18\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3.19\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 \n3.57\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 \n1.17\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 \n1.05\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.18\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1.25\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.19\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 \n3.57\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 \n0.2275\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 \n0.2275\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1975\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.1975\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.6825\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n0.5925\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 \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 \n30.65\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29.74\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28.58\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 \n \n\n \n\n \n\n \n28.58\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 \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 \n29.19\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n28.28\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n27.13\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 \n \n\n \n\n \n\n \n27.13\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWeighted-average common shares outstanding(1)\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 \n8,148,525\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,180,531\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,230,902\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,134,587\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,237,879\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nWeighted-average diluted common shares outstanding(1)\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 \n8,148,525\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,180,531\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,230,902\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,134,587\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,237,879\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \n (1) \n \n \nExcluding participating securities.\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 September 30, 2023 \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 September 30, 2022 \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\n Balance \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\n Yield/Rate(4) \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\n Balance \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\n Yield/Rate(4) \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\n Balance \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\n Yield/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 other mortgage loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,605,464\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n25,623\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.38\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,546,487\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n23,671\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.12\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,486,530\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n17,280\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.65\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 \n1,059,512\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n21,635\n\n \n\n \n\n \n \n\n \n\n \n\n \n8.17\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n780,533\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,426\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.37\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 \n46,875\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 \n5.21\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n49,558\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n468\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.78\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 \n2,711,851\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n47,868\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.06\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n2,316,621\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n30,174\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.21\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 \n204,291\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 \n3.29\n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n168,433\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n915\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.17\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 \n67,546\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n517\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.06\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n51,812\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n250\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.93\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 \n14,770\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 \n8.75\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n18,167\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n289\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.36\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 \n40,318\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n552\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.48\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n27,912\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n158\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 \nTotal interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,038,776\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 \n6.71\n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n2,582,945\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31,786\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.92\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 \n237,464\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n176,016\n\n \n\n \n\n \n \n\n \n\n \n\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 \n3,276,240\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 \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,127,234\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,758,961\n\n \n\n \n\n \n \n\n \n\n \n\n \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$\n\n \n\n \n\n \n731,529\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n6,774\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.70\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \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\n \n\n \n\n \n$\n\n \n\n \n\n \n486,704\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,005\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.83\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 \n657,183\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,871\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.57\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n746,227\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,610\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.86\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 \n282,674\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,986\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.23\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n113,529\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 \n1.20\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 \n410,494\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,172\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.07\n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n36,702\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n226\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.46\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 \n2,081,880\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n19,803\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.80\n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n1,383,162\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,181\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.92\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 \n342,117\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,117\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.48\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n432,528\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,173\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.01\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 \n34,745\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n425\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\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\n \n\n \n\n \n \n\n \n\n \n\n \n42,800\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n548\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.12\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 \n2,458,742\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 \n3.64\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 \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\n \n\n \n\n \n \n\n \n\n \n\n \n1,858,490\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,902\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.27\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-interest-bearing demand deposit accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n434,330\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n584,535\n\n \n\n \n\n \n \n\n \n\n \n\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 liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n105,079\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n60,705\n\n \n\n \n\n \n \n\n \n\n \n\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 \n2,998,151\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n2,503,730\n\n \n\n \n\n \n \n\n \n\n \n\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 \n278,089\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\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\n \n\n \n\n \n \n\n \n\n \n\n \n255,231\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 \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 \n3,276,240\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 \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n3,127,234\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,758,961\n\n \n\n \n\n \n \n\n \n\n \n\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$\n\n \n\n \n\n \n28,596\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\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 \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n25,884\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n \nInterest rate spread\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.07\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.15\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3.65\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNet interest-earning assets\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n580,034\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n579,397\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n724,455\n\n \n\n \n\n \n \n\n \n\n \n\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 \n3.76\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 \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 \n \n\n \n\n \n\n \n \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 (1) \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 (2) \n \n \nIncludes amortized cost basis of assets available for sale and held to maturity.\n\n \n\n \n\n \n \n (3) \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 (4) \n \n \nRepresents annualized yields/rates.\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 Nine 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 September 30, 2023 \n\n \n\n \n\n \n \n\n \n\n \n\n \n September 30, 2022 \n\n \n\n \n\n \n \n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\n Balance \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\n Yield/Rate(4) \n\n \n\n \n\n \n \n\n \n\n \n\n \n Average\n Balance \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\n Yield/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 \nCommercial real estate and other mortgage loans(1)\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,556,988\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n71,011\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.08\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n1,472,930\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n45,969\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.16\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 \n988,359\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n59,213\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.99\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 \n755,254\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n31,603\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 \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 \n47,594\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,738\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.87\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n50,149\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,362\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 \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 \n2,592,941\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n131,962\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.79\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,278,333\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n78,934\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.62\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 \n193,196\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,372\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.02\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n176,654\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,479\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.87\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 \n61,396\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,229\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\n \n\n \n\n \n \n\n \n\n \n\n \n52,324\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 \n1.85\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 \n15,904\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n952\n\n \n\n \n\n \n \n\n \n\n \n\n \n7.98\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 \n16,523\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n688\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.55\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 \n43,437\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,652\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.07\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n29,509\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n227\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.03\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 \n2,906,874\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n140,167\n\n \n\n \n\n \n \n\n \n\n \n\n \n6.43\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 \n2,553,343\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n83,053\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.34\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 \n223,552\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n160,966\n\n \n\n \n\n \n \n\n \n\n \n\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$\n\n \n\n \n\n \n3,130,426\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n2,714,309\n\n \n\n \n\n \n \n\n \n\n \n\n \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$\n\n \n\n \n\n \n657,155\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n16,070\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.26\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n$\n\n \n\n \n\n \n507,402\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,602\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.42\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 \n663,284\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n14,984\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.01\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 \n765,839\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n2,458\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.43\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 \n271,684\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n8,049\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.95\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 \n80,093\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n509\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.85\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 \n311,038\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n9,671\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.14\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 \n21,838\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n436\n\n \n\n \n\n \n \n\n \n\n \n\n \n2.66\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 \n1,903,161\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n48,774\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\n \n\n \n\n \n \n\n \n\n \n\n \n1,375,172\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n5,005\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.49\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 \n368,913\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n7,030\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 \n422,576\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n4,875\n\n \n\n \n\n \n \n\n \n\n \n\n \n1.54\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 \n35,351\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,314\n\n \n\n \n\n \n \n\n \n\n \n\n \n4.96\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n44,719\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,698\n\n \n\n \n\n \n \n\n \n\n \n\n \n5.06\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nJunior subordinated notes(5)\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n \n\n \n\n \n\n \n—\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n3,247\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n504\n\n \n\n \n\n \n \n\n \n\n \n\n \n20.69\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 \n2,307,425\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n57,118\n\n \n\n \n\n \n \n\n \n\n \n\n \n3.30\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n1,845,714\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n12,082\n\n \n\n \n\n \n \n\n \n\n \n\n \n0.87\n\n \n\n \n\n \n%\n\n \n\n \n\n \n \n \nNon-interest-bearing demand deposit accounts\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n455,653\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n568,131\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 \n \n\n \n\n \n\n \n \n \nOther non-interest-bearing liabilities\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n96,883\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n53,685\n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n \n \n\n \n\n \n\n...

View stock analysis, news, and events for First Business Financial Services, Inc.