| Schedule of Segment Reporting |
The following tables present the operating segment results for the periods presented below (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Dollars in thousands) | As of or for the Three Months Ended March 31, | | 2026 | | 2025 | Retail
Banking | | MPP | | Total | | Retail
Banking | | MPP | | Total | | Interest income | $ | 45,706 | | | $ | 55,797 | | | $ | 101,503 | | | $ | 47,462 | | | $ | 31,688 | | | $ | 79,150 | | | Interest expense | (60,230) | | | — | | | (60,230) | | | (48,761) | | | — | | | (48,761) | | | Funds transfer pricing | 34,448 | | | (34,448) | | | — | | | 20,767 | | | (20,767) | | | — | | | Net interest income | 19,924 | | | 21,349 | | | 41,273 | | | 19,468 | | | 10,921 | | | 30,389 | | | Provision (benefit) for credit losses | (619) | | | 174 | | | (445) | | | 992 | | | 303 | | | 1,295 | | | Net income after provision | 20,543 | | | 21,175 | | | 41,718 | | | 18,476 | | | 10,618 | | | 29,094 | | Noninterest income (1) | 20,175 | | | 1,970 | | | 22,145 | | | 21,732 | | | 1,141 | | | 22,873 | | | Salaries and employee benefits | (21,625) | | | (2,728) | | | (24,353) | | | (18,931) | | | (1,512) | | | (20,443) | | | Occupancy and equipment | (802) | | | (18) | | | (820) | | | (950) | | | (22) | | | (972) | | Other noninterest expense (2) | (9,115) | | | (147) | | | (9,262) | | | (7,844) | | | (113) | | | (7,957) | | | Noninterest expense | (31,542) | | | (2,893) | | | (34,435) | | | (27,725) | | | (1,647) | | | (29,372) | | Expense allocation (3) | 1,487 | | | (1,487) | | | — | | | 1,153 | | | (1,153) | | | — | | | Net income before taxes | 10,663 | | | 18,765 | | | 29,428 | | | 13,636 | | | 8,959 | | | 22,595 | | | Income tax expense | (2,635) | | | (4,639) | | | (7,274) | | | (3,227) | | | (2,121) | | | (5,348) | | | Net income before preferred dividends | $ | 8,028 | | | $ | 14,126 | | | $ | 22,154 | | | $ | 10,409 | | | $ | 6,838 | | | $ | 17,247 | | | Average balance sheet assets | $ | 3,588,850 | | | $ | 3,433,060 | | | $ | 7,021,910 | | | $ | 3,551,982 | | | $ | 1,795,920 | | | $ | 5,347,902 | | | Period end assets | $ | 3,535,214 | | | $ | 3,860,663 | | | $ | 7,395,877 | | | $ | 3,391,443 | | | $ | 2,468,212 | | | $ | 5,859,655 | |
(1) Noninterest income for MPP only includes MPP related fees. All other noninterest income is reflected in Retail Banking. (2) Includes data processing, professional services, office supplies and other miscellaneous expenses. (3) Reflects corporate overhead expense allocations used by both business segments; primarily consisting of corporate administration, finance, technology, human resources, risk, marketing and occupancy related allocations.
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