v3.26.3
Segment Reporting
 9 Months Ended
Sep. 30, 2026
Segment Reporting  
Segment Reporting

Note 21 — Segment Reporting

The table below provides net income and net interest margin information about the General Banking Unit. The most significant expenses to the General Banking Unit are deposit and other borrowing interest expense as well as employee compensation. For a description of the Company’s reportable segments and related framework, refer to Note 29 to the Consolidated Financial Statements in the Company’s 2025 Form 10‑K.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

 

September 30,

 

 

September 30,

 

 

(Dollars in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

Net Income (GAAP)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

 

864,856

 

 

$

 

881,682

 

 

$

 

2,519,944

 

 

$

 

2,530,752

 

 

Interest expense

 

 

 

273,338

 

 

 

 

281,985

 

 

 

 

790,872

 

 

 

 

808,560

 

 

Net interest income (a)

 

 

 

591,518

 

 

 

 

599,697

 

 

 

 

1,729,072

 

 

 

 

1,722,192

 

 

Provision for credit losses

 

 

 

20,345

 

 

 

 

5,085

 

 

 

 

47,072

 

 

 

 

113,152

 

 

Net interest income after provision for credit losses

 

 

 

571,173

 

 

 

 

594,612

 

 

 

 

1,682,000

 

 

 

 

1,609,040

 

 

Total noninterest income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities losses, net

 

 

 

—

 

 

 

 

—

 

 

 

 

—

 

 

 

 

(228,811

)

 

Gain on sale-leaseback, net of transaction costs

 

 

 

—

 

 

 

 

—

 

 

 

 

—

 

 

 

 

229,279

 

 

Other operating noninterest income

 

 

 

93,911

 

 

 

 

99,086

 

 

 

 

290,735

 

 

 

 

271,523

 

 

Total noninterest income

 

 

 

93,911

 

 

 

 

99,086

 

 

 

 

290,735

 

 

 

 

271,991

 

 

Total noninterest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employee salaries

 

 

 

148,312

 

 

 

 

136,630

 

 

 

 

434,924

 

 

 

 

408,253

 

 

Employee commissions

 

 

 

17,782

 

 

 

 

15,656

 

 

 

 

53,115

 

 

 

 

41,210

 

 

Employee incentives

 

 

 

39,523

 

 

 

 

32,612

 

 

 

 

103,299

 

 

 

 

95,001

 

 

Other salaries and benefits

 

 

 

35,429

 

 

 

 

34,957

 

 

 

 

108,871

 

 

 

 

108,275

 

 

Deferred loan costs

 

 

 

(23,809

)

 

 

 

(20,707

)

 

 

 

(71,942

)

 

 

 

(57,618

)

 

Salaries and employee benefits

 

 

 

217,237

 

 

 

 

199,148

 

 

 

 

628,267

 

 

 

 

595,121

 

 

Occupancy expense

 

 

 

44,136

 

 

 

 

40,874

 

 

 

 

130,316

 

 

 

 

117,874

 

 

Information services expense

 

 

 

29,968

 

 

 

 

28,988

 

 

 

 

88,808

 

 

 

 

90,505

 

 

Professional fees

 

 

 

5,898

 

 

 

 

4,994

 

 

 

 

16,227

 

 

 

 

14,361

 

 

Amortization of intangibles

 

 

 

20,628

 

 

 

 

23,426

 

 

 

 

62,973

 

 

 

 

71,305

 

 

Business development and staff related

 

 

 

10,877

 

 

 

 

8,907

 

 

 

 

32,877

 

 

 

 

22,600

 

 

FDIC assessment and other regulatory charges

 

 

 

10,911

 

 

 

 

8,374

 

 

 

 

31,921

 

 

 

 

31,101

 

 

Merger and branch consolidation related expense

 

 

 

—

 

 

 

 

20,889

 

 

 

 

—

 

 

 

 

113,274

 

 

Other operating expense

 

 

 

35,108

 

 

 

 

36,742

 

 

 

 

100,647

 

 

 

 

100,088

 

 

Total noninterest expense

 

 

 

374,763

 

 

 

 

372,342

 

 

 

 

1,092,036

 

 

 

 

1,156,229

 

 

Income before income tax provision

 

 

 

290,321

 

 

 

 

321,356

 

 

 

 

880,699

 

 

 

 

724,802

 

 

Income tax provision

 

 

 

66,523

 

 

 

 

74,715

 

 

 

 

201,059

 

 

 

 

173,857

 

 

Net income (GAAP)

 

$

 

223,798

 

 

$

 

246,641

 

 

$

 

679,640

 

 

$

 

550,945

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Interest Margin, Non-Tax Equivalent ("Non-TE") (GAAP)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average interest earning assets (b)

 

$

 

62,217,447

 

 

$

 

58,727,110

 

 

$

 

61,191,513

 

 

$

 

57,982,690

 

 

Net interest margin, non-TE ((a)/(b)) (GAAP)

 

 

 

3.77

%

 

 

 

4.05

%

 

 

 

3.78

%

 

 

 

3.97

%