v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has one reportable segment: The Banking Segment. The Company's reportable segment is determined by the Chairman and Chief Executive Officer, who is the designated chief operating decision maker ("CODM"), based upon information provided about the Company's products and services offered, primarily banking operations. The segment is also defined by the level of detailed information provided to the CODM, who uses such information to review performance of various components of the business such as geographical regions and branches, which are then aggregated since these have similar operating and economic characteristics. Each of the branches and regions of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts.
The CODM will evaluate the financial performance of the Company's business components such as evaluating revenue streams, significant expenses and budget to actual results in order to assess the Company's segment and to determine the allocation of resources. The CODM uses revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets. The CODM uses consolidated net income in order to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans, investments and deposits provide the revenues in the banking operation. Interest expense, provision for credit losses and payroll provide the significant expenses in the banking operation. All operations are domestic.
Accounting policies for segments are the same as those described in Note 1. Segment performance is evaluated using consolidated net income. The table below presents the information reported internally for performance assessment by the CODM as of the three months ended March 31, 2026 and 2025.
Three Months Ended March 31,
Banking Segment20262025
(In thousands)
Interest Income$311,023 $312,542 
Reconciliation of revenue:
Other Revenues*42,803 45,426 
Total consolidated revenues$353,826 $357,968 
Less:
Interest Expense87,119 97,886 
Segment net interest income and noninterest income$266,707 $260,082 
Less:
Credit loss expense
500 — 
Salaries and employee benefits63,236 61,855 
Occupancy and equipment**14,867 14,425 
Data Processing expense8,884 8,558 
Merger and acquisition expense394 — 
Other expense11,065 8,703 
FDIC and state assessment1,599 3,387 
Electronic banking expense3,326 3,055 
Other segment items***10,604 12,945 
Income tax expense34,023 31,945 
Segment net income/consolidated net income118,209 115,209 
Reconciliation of profit or loss:
Adjustments and reconciling items — — 
Consolidated net income$118,209 $115,209 
*Includes earnings in equity method investments of $1.5 million and $5.2 million for the three months ended March 31, 2026 and 2025, respectively.
** Includes depreciation and amortization expense of $7.3 million and $5.3 million for the three month periods ended March 31, 2026 and 2025, respectively.
***Other segment items include expenses for advertising, amortization of intangibles, directors' fees, due from bank service charges, insurance expense, legal and accounting fees, other professional fees, operating supplies, postage and telephone.