v3.25.2
SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Financial Information
Selected business segment financial information for the years ended December 31, 2024, 2023 and 2022 were as follows:
(dollars in thousands)BankingWealth
Management
CorporateTotal
Year Ended December 31, 2024
Interest income$426,113 $— $15 $426,128 
Interest expense180,643 51 9,088 189,782 
Net interest income (expense)245,470 (51)(9,073)236,346 
Provision for credit losses120,332 — — 120,332 
Wealth management revenue— 28,697 — 28,697 
Credit enhancement income60,998 — — 60,998 
Other noninterest income49,123 — (77)49,046 
Total noninterest income110,121 28,697 (77)138,741 
Salaries and employee benefits79,011 14,628 — 93,639 
Depreciation expense4,950 43 — 4,993 
Amortization of intangible assets2,900 1,108 — 4,008 
Other noninterest expense(1)
101,855 6,111 (2,751)105,215 
Total noninterest expense188,716 21,890 (2,751)207,855 
Income (loss) before income taxes (benefit)46,543 6,756 (6,399)46,900 
Income taxes (benefit)10,037 3,257 (4,438)8,856 
Net income (loss)$36,506 $3,499 $(1,961)$38,044 
Total assets$7,486,121 $32,303 $(11,615)$7,506,809 
Year Ended December 31, 2023 (restated)
Interest income$416,997 $— $103 $417,100 
Interest expense159,316 12 8,951 168,279 
Net interest income (expense)257,681 (12)(8,848)248,821 
Provision for credit losses82,560 — — 82,560 
Wealth management revenue— 25,572 — 25,572 
Credit enhancement income48,194 — — 48,194 
Other noninterest income40,830 — 188 41,018 
Total noninterest income89,024 25,572 188 114,784 
Salaries and employee benefits79,584 13,854 — 93,438 
Depreciation expense4,722 56 — 4,778 
Amortization of intangible assets3,564 1,194 — 4,758 
Other noninterest expense(1)
86,798 5,143 (1,832)90,109 
Total noninterest expense174,668 20,247 (1,832)193,083 
Income (loss) before income taxes (benefit)89,477 5,313 (6,828)87,962 
Income taxes (benefit)27,348 2,309 (2,850)26,807 
Net income (loss)$62,129 $3,004 $(3,978)$61,155 
Total assets$7,768,201 $31,437 $(9,592)$7,790,046 
(dollars in thousands)BankingWealth
Management
CorporateTotal
Year Ended December 31, 2022 (restated)
Interest income$312,701 $— $14 $312,715 
Interest expense45,515 — 10,505 56,020 
Net interest income (expense)267,186 — (10,491)256,695 
Provision for credit losses76,764 — — 76,764 
Wealth management revenue— 25,708 — 25,708 
Credit enhancement income69,976 — — 69,976 
Other noninterest income54,179 — 54,183 
Total noninterest income124,155 25,708 149,867 
Salaries and employee benefits77,822 12,483 — 90,305 
Depreciation expense4,784 58 — 4,842 
Amortization of intangible assets4,121 1,289 — 5,410 
Other noninterest expense(1)
93,703 4,189 (37)97,855 
Total noninterest expense180,430 18,019 (37)198,412 
Income (loss) before income taxes (benefit)134,147 7,689 (10,450)131,386 
Income taxes (benefit)35,391 2,136 (6,378)31,149 
Net income (loss)$98,756 $5,553 $(4,072)$100,237 
Total assets$7,779,531 $29,332 $(15,797)$7,793,066 
(1)Other noninterest expense for Banking includes occupancy and equipment, data processing, FDIC insurance, professional services, marketing, communications, loan expense and other miscellaneous expenses. Other noninterest expense for Wealth Management includes occupancy and equipment, data processing, professional services, marketing, communications and other miscellaneous expenses. Other noninterest expense for Corporate includes data processing, professional services, marketing and other miscellaneous expenses.