BUSINESS SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Segment Reporting Information


(Dollars in thousands)									Total		Corporate
Three Months Ended June 30, 2026	Banking		Factoring		Payments		Intelligence		Segments		and Other(1)		Consolidated
Total interest income	$	65,381	$	50,166	$	8,957	$	—	$	124,504	$	33	$	124,537
Intersegment interest allocations	8,405		(10,585)		2,180		—		—		—		—
Total interest expense	24,076		7		—		—		24,083		1,628		25,711
Net interest income (expense)	49,710		39,574		11,137		—		100,421		(1,595)		98,826
Credit loss expense (benefit)	(30)		2,716		155		—		2,841		(105)		2,736
Net interest income after credit loss expense	49,740		36,858		10,982		—		97,580		(1,490)		96,090
Noninterest income	5,331		1,917		10,893		2,389		20,530		885		21,415
Noninterest expense:
Salaries and employee benefits	14,684		12,452		9,771		3,449		40,356		19,731		60,087
Depreciation	1,540		273		156		18		1,987		776		2,763
Other occupancy, furniture and equipment	2,128		463		163		13		2,767		834		3,601
FDIC insurance and other regulatory assessments	1,167		—		—		—		1,167		—		1,167
Professional fees	4,356		436		300		112		5,204		1,885		7,089
Amortization of intangible assets	269		111		812		1,283		2,475		11		2,486
Advertising and promotion	317		383		333		24		1,057		348		1,405
Communications and technology	3,405		2,459		3,106		358		9,328		2,622		11,950
Software amortization	—		1,117		1,932		77		3,126		351		3,477
Travel and entertainment	210		156		219		115		700		508		1,208
Other	2,912		567		1,583		269		5,331		1,070		6,401
Total noninterest expense	30,988		18,417		18,375		5,718		73,498		28,136		101,634
Net intersegment noninterest income (expense)(2)	144		518		(662)		—		—		—		—
Net income (loss) before income tax expense	$	24,227	$	20,876	$	2,838	$	(3,329)	$	44,612	$	(28,741)	$	15,871


(Dollars in thousands)									Total		Corporate
Three Months Ended June 30, 2025	Banking		Factoring		Payments		Intelligence		Segments		and Other(1)		Consolidated
Total interest income	$	64,851	$	38,040	$	6,230	$	—	$	109,121	$	80	$	109,201
Intersegment interest allocations	6,386		(9,282)		2,896		—		—		—		—
Total interest expense	18,825		2		—		—		18,827		1,696		20,523
Net interest income (expense)	52,412		28,756		9,126		—		90,294		(1,616)		88,678
Credit loss expense (benefit)	2,219		(2,916)		92		—		(605)		(97)		(702)
Net interest income after credit loss expense	50,193		31,672		9,034		—		90,899		(1,519)		89,380
Noninterest income	7,989		1,811		7,724		1,724		19,248		136		19,384
Noninterest expense:
Salaries and employee benefits	16,001		13,444		8,711		3,234		41,390		18,492		59,882
Depreciation	1,656		468		222		7		2,353		1,602		3,955
Other occupancy, furniture and equipment	1,896		508		163		14		2,581		1,603		4,184
FDIC insurance and other regulatory assessments	894		—		—		—		894		—		894
Professional fees	1,801		(7,272)		240		2,995		(2,236)		1,916		(320)
Amortization of intangible assets	385		193		1,418		946		2,942		458		3,400
Advertising and promotion	557		223		669		22		1,471		367		1,838
Communications and technology	5,257		2,438		2,455		278		10,428		1,887		12,315
Software amortization	—		1,125		1,413		—		2,538		327		2,865
Travel and entertainment	306		245		456		130		1,137		482		1,619
Other	3,210		2,770		1,097		84		7,161		3,047		10,208
Total noninterest expense	31,963		14,142		16,844		7,710		70,659		30,181		100,840
Net intersegment noninterest income (expense)(2)	155		413		(568)		—		—		—		—
Net income (loss) before income tax expense	$	26,374	$	19,754	$	(654)	$	(5,986)	$	39,488	$	(31,564)	$	7,924


(Dollars in thousands)									Total		Corporate
Six Months Ended June 30, 2026	Banking		Factoring		Payments		Intelligence		Segments		and Other(1)		Consolidated
Total interest income	$	121,992	$	89,110	$	16,123	$	—	$	227,225	$	67	$	227,292
Intersegment interest allocations	14,136		(18,804)		4,668		—		—		—		—
Total interest expense	39,115		13		—		—		39,128		3,244		42,372
Net interest income (expense)	97,013		70,293		20,791		—		188,097		(3,177)		184,920
Credit loss expense (benefit)	(2,368)		3,773		352		—		1,757		372		2,129
Net interest income after credit loss expense	99,381		66,520		20,439		—		186,340		(3,549)		182,791
Noninterest income	11,489		3,835		20,056		4,786		40,166		956		41,122
Noninterest expense:
Salaries and employee benefits	29,658		24,293		18,545		6,666		79,162		39,093		118,255
Depreciation	3,117		561		332		34		4,044		1,602		5,646
Other occupancy, furniture and equipment	4,144		959		304		40		5,447		1,772		7,219
FDIC insurance and other regulatory assessments	2,225		—		—		—		2,225		—		2,225
Professional fees	6,680		713		534		241		8,168		3,684		11,852
Amortization of intangible assets	538		248		1,629		2,566		4,981		21		5,002
Advertising and promotion	671		644		529		118		1,962		655		2,617
Communications and technology	8,502		4,779		5,942		717		19,940		5,129		25,069
Software amortization	—		2,187		3,753		135		6,075		702		6,777
Travel and entertainment	439		386		512		261		1,598		1,130		2,728
Other	6,356		1,237		2,399		340		10,332		2,173		12,505
Total noninterest expense	62,330		36,007		34,479		11,118		143,934		55,961		199,895
Net intersegment noninterest income (expense)(2)	269		1,033		(1,302)		—		—		—		—
Net income (loss) before income tax expense	$	48,809	$	35,381	$	4,714	$	(6,332)	$	82,572	$	(58,554)	$	24,018


(Dollars in thousands)									Total		Corporate
Six Months Ended June 30, 2025	Banking		Factoring		Payments		Intelligence		Segments		and Other(1)		Consolidated
Total interest income	$	128,344	$	71,371	$	11,593	$	—	$	211,308	$	163	$	211,471
Intersegment interest allocations	11,121		(16,935)		5,814		—		—		—		—
Total interest expense	35,036		2		—		—		35,038		3,372		38,410
Net interest income (expense)	104,429		54,434		17,407		—		176,270		(3,209)		173,061
Credit loss expense (benefit)	2,726		(2,356)		210		—		580		48		628
Net interest income after credit loss expense	101,703		56,790		17,197		—		175,690		(3,257)		172,433
Noninterest income	14,992		3,530		14,255		2,119		34,896		1,678		36,574
Noninterest expense:
Salaries and employee benefits	32,318		26,666		18,324		4,718		82,026		36,574		118,600
Depreciation	3,286		971		452		14		4,723		3,176		7,899
Other occupancy, furniture and equipment	3,998		1,045		331		21		5,395		3,287		8,682
FDIC insurance and other regulatory assessments	1,621		—		—		—		1,621		—		1,621
Professional fees	2,866		(5,420)		446		3,946		1,838		3,906		5,744
Amortization of intangible assets	770		386		2,969		1,062		5,187		613		5,800
Advertising and promotion	1,068		477		1,050		52		2,647		655		3,302
Communications and technology	10,272		4,712		4,924		505		20,413		4,146		24,559
Software amortization	56		1,719		2,609		2		4,386		471		4,857
Travel and entertainment	544		428		833		248		2,053		1,058		3,111
Other	6,235		3,511		2,019		150		11,915		4,923		16,838
Total noninterest expense	63,034		34,495		33,957		10,718		142,204		58,809		201,013
Net intersegment noninterest income (expense)(2)	292		848		(1,140)		—		—		—		—
Net income (loss) before income tax expense	$	53,953	$	26,673	$	(3,645)	$	(8,599)	$	68,382	$	(60,388)	$	7,994

(1) Includes revenue and expense from the Company’s holding company, which does not meet the definition of an operating segment. Also includes corporate shared service costs such as the majority of salaries and benefits expense for the Company's executive leadership team, as well as other selling, general, and administrative shared services costs including human resources, accounting, finance, risk management and a significant amount of information technology expense.

(2) Net intersegment noninterest income (expense) includes:


(Dollars in thousands)	Banking		Factoring		Payments
Three Months Ended June 30, 2026
Factoring revenue received from Payments	$	—	$	910	$	(910)
Payments revenue received from Factoring	—		(266)		266
Banking revenue received from Payments and Factoring	144		(126)		(18)
Net intersegment noninterest income (expense)	$	144	$	518	$	(662)

Three Months Ended June 30, 2025
Factoring revenue received from Payments	$	—	$	910	$	(910)
Payments revenue received from Factoring	—		(381)		381
Banking revenue received from Payments and Factoring	155		(116)		(39)
Net intersegment noninterest income (expense)	$	155	$	413	$	(568)

Six months ended June 30, 2026
Factoring revenue received from Payments	$	—	$	1,821	$	(1,821)
Payments revenue received from Factoring	—		(553)		553
Banking revenue received from Payments and Factoring	269		(235)		(34)
Net intersegment noninterest income (expense)	$	269	$	1,033	$	(1,302)

Six months ended June 30, 2025
Factoring revenue received from Payments	$	—	$	1,821	$	(1,821)
Payments revenue received from Factoring	—		(753)		753
Banking revenue received from Payments and Factoring	292		(220)		(72)
Net intersegment noninterest income (expense)	$	292	$	848	$	(1,140)


(Dollars in thousands)									Total		Corporate
June 30, 2026	Banking		Factoring		Payments		Intelligence		Segments		and Other		Eliminations		Consolidated
Total assets	$	4,820,467	$	1,821,671	$	838,251	$	111,973	$	7,592,362	$	1,123,430	$	(1,312,107)	$	7,403,685
Gross loans	$	3,337,212	$	1,752,492	$	387,387	$	—	$	5,477,091	$	—	$	—	$	5,477,091


(Dollars in thousands)									Total		Corporate
December 31, 2025	Banking		Factoring		Payments		Intelligence		Segments		and Other		Eliminations		Consolidated
Total assets	$	4,480,124	$	1,335,150	$	774,979	$	120,410	$	6,710,663	$	1,088,885	$	(1,418,960)	$	6,380,588
Gross loans	$	3,525,447	$	1,223,740	$	242,120	$	—	$	4,991,307	$	—	$	—	$	4,991,307

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details