Document

This Financial Supplement contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment core revenue, consolidated and segment core noninterest expense and core noninterest income, consolidated and segment core efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be non-core/adjusted in nature. The Company refers to these non-GAAP measures as adjusted (or core) measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.

The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant non-core gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Financial Supplement for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.


Financial Summary and Key Metrics
(Unaudited)
(Dollars in Thousands, Except Share Data)

	As of or for the Three Months Ended
	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023
Selected Balance Sheet Data
Cash and cash equivalents	$	951,750		$	800,902		$	870,730		$	810,932		$	848,318
Investment securities, at fair value	1,567,922			1,482,379			1,464,682			1,471,973			1,351,153
Loans held for sale	103,145			106,875			82,704			67,847			103,858
Loans HFI	9,478,129			9,309,553			9,288,909			9,408,783			9,287,225
Allowance for credit losses on loans HFI	(156,260)			(155,055)			(151,667)			(150,326)			(146,134)


Total assets	12,920,222			12,535,169			12,548,320			12,604,403			12,489,631
Interest-bearing deposits (non-brokered)	8,230,867			8,130,704			8,191,962			8,179,430			8,105,713
Brokered deposits	519,200			150,113			130,845			150,475			174,920
Noninterest-bearing deposits	2,226,144			2,187,185			2,182,121			2,218,382			2,358,435
Total deposits	10,976,211			10,468,002			10,504,928			10,548,287			10,639,068
Borrowings	182,107			360,944			360,821			390,964			226,689
Allowance for credit losses on unfunded commitments	(6,042)			(5,984)			(7,700)			(8,770)			(11,600)
Total common shareholders' equity	1,562,329			1,500,502			1,479,526			1,454,794			1,372,901
Selected Statement of Income Data
Total interest income	$	185,628		$	177,413		$	176,128		$	174,835		$	173,912
Total interest expense	79,611			74,798			76,638			73,747			72,986
Net interest income	106,017			102,615			99,490			101,088			100,926
Total noninterest (loss) income	(16,497)			25,608			7,962			15,339			8,042
Total noninterest expense	76,212			75,093			72,420			80,200			82,997
Earnings before income taxes and provisions for credit losses	13,308			53,130			35,032			36,227			25,971
Provisions for (reversals of) credit losses	1,914			2,224			782			305			2,821
Income tax expense	1,174			10,919			6,300			6,545			3,975
Net income applicable to noncontrolling interest	—			8			—			8			—
Net income applicable to FB Financial Corporation	$	10,220		$	39,979		$	27,950		$	29,369		$	19,175
Net interest income (tax-equivalent basis)	$	106,634		$	103,254		$	100,199		$	101,924		$	101,762
Adjusted net income*	$	40,132		$	39,424		$	39,890		$	36,152		$	33,148
Adjusted pre-tax, pre-provision net revenue*	$	53,762		$	52,369		$	51,180		$	45,390		$	44,869
Per Common Share
Diluted net income	$	0.22		$	0.85		$	0.59		$	0.63		$	0.41
Adjusted diluted net income*	0.86			0.84			0.85			0.77			0.71

Book value	33.48			32.17			31.55			31.05			29.31
Tangible book value*	28.15			26.82			26.21			25.69			23.93

Weighted average number of shares outstanding - fully diluted	46,803,330			46,845,143			46,998,873			46,916,939			46,856,422
Period-end number of shares	46,658,019			46,642,958			46,897,378			46,848,934			46,839,159
Selected Ratios
Return on average:
Assets	0.32		%	1.30		%	0.89		%	0.94		%	0.61		%
Shareholders’ equity	2.67		%	10.9		%	7.70		%	8.41		%	5.46		%
Tangible common equity*	3.19		%	13.1		%	9.29		%	10.3		%	6.67		%

Efficiency ratio	85.1		%	58.6		%	67.4		%	68.9		%	76.2		%
Core efficiency ratio (tax-equivalent basis)*	58.4		%	58.3		%	58.1		%	61.7		%	63.1		%
Loans HFI to deposit ratio	86.4		%	88.9		%	88.4		%	89.2		%	87.3		%

Noninterest-bearing deposits to total deposits	20.3		%	20.9		%	20.8		%	21.0		%	22.2		%
Net interest margin (NIM) (tax-equivalent basis)	3.55		%	3.57		%	3.42		%	3.46		%	3.42		%
Yield on interest-earning assets	6.20		%	6.16		%	6.03		%	5.96		%	5.87		%
Cost of interest-bearing liabilities	3.63		%	3.56		%	3.56		%	3.47		%	3.41		%
Cost of total deposits	2.83		%	2.77		%	2.76		%	2.65		%	2.58		%

Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.65		%	1.67		%	1.63		%	1.60		%	1.57		%

Annualized net charge-offs (recoveries) as a percentage of average loans HFI	0.03		%	0.02		%	0.02		%	(0.04)		%	0.02		%
Nonperforming loans HFI as a percentage of loans HFI	0.96		%	0.79		%	0.73		%	0.65		%	0.59		%
Nonperforming assets as a percentage of total assets	0.99		%	0.81		%	0.75		%	0.69		%	0.71		%
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets	12.1		%	12.0		%	11.8		%	11.5		%	11.0		%
Tangible common equity to tangible assets*	10.4		%	10.2		%	9.99		%	9.74		%	9.16		%
Tier 1 leverage	11.5		%	11.7		%	11.3		%	11.3		%	11.0		%
Tier 1 risk-based capital	13.0		%	13.0		%	12.8		%	12.5		%	12.1		%
Total risk-based capital	15.1		%	15.1		%	15.0		%	14.5		%	14.1		%

Common equity Tier 1	12.7		%	12.7		%	12.6		%	12.2		%	11.8		%


Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Share Data)
													Sep 2024		Sep 2024
													vs.		vs.
	Three Months Ended										Jun 2024	Sep 2023
	Sep 2024		Jun 2024		Mar 2024		Dec 2023		Sep 2023				Percent variance		Percent variance
Interest income:
Interest and fees on loans	$	158,625	$	155,379	$	155,606	$	155,737	$	153,882			2.09	%	3.08	%
Interest on investment securities
Taxable	13,943		11,966		9,105		7,808		6,399				16.5	%	117.9	%
Tax-exempt	1,104		1,168		1,442		1,746		1,795				(5.48)	%	(38.5)	%
Other	11,956		8,900		9,975		9,544		11,836				34.3	%	1.01	%
Total interest income	185,628		177,413		176,128		174,835		173,912				4.63	%	6.74	%
Interest expense:
Deposits	76,088		71,501		72,625		70,873		69,826				6.42	%	8.97	%
Borrowings	3,523		3,297		4,013		2,874		3,160				6.85	%	11.5	%
Total interest expense	79,611		74,798		76,638		73,747		72,986				6.43	%	9.08	%
Net interest income	106,017		102,615		99,490		101,088		100,926				3.32	%	5.04	%
Provision for credit losses on loans HFI	1,856		3,940		1,852		3,135		6,031				(52.9)	%	(69.2)	%
Provision for (reversal of) credit losses on unfunded commitments	58		(1,716)		(1,070)		(2,830)		(3,210)				(103.4)	%	(101.8)	%
Net interest income after provisions for credit losses	104,103		100,391		98,708		100,783		98,105				3.70	%	6.11	%
Noninterest income:
Mortgage banking income	11,553		11,910		12,585		8,376		11,998				(3.00)	%	(3.71)	%
Investment services and trust income	3,721		3,387		3,230		3,093		3,072				9.86	%	21.1	%
Service charges on deposit accounts	3,378		3,167		3,141		2,957		2,959				6.66	%	14.2	%
ATM and interchange fees	2,840		2,814		2,944		2,618		2,639				0.92	%	7.62	%
(Loss) gain from securities, net	(40,165)		—		(16,213)		183		(14,197)				NM		182.9	%
(Loss) gain on sales or write-downs of other real estate owned and other assets	(289)		(281)		565		(492)		115				2.85	%	(351.3)	%

Other income	2,465		4,611		1,710		(1,396)		1,456				(46.5)	%	69.3	%
Total noninterest (loss) income	(16,497)		25,608		7,962		15,339		8,042				(164.4)	%	(305.1)	%
Total revenue	89,520		128,223		107,452		116,427		108,968				(30.2)	%	(17.8)	%
Noninterest expenses:
Salaries, commissions and employee benefits	47,538		46,225		44,618		48,142		54,491				2.84	%	(12.8)	%
Occupancy and equipment expense	6,640		6,328		6,614		9,530		6,428				4.93	%	3.30	%
Data processing	2,486		2,286		2,408		2,434		2,338				8.75	%	6.33	%
Legal and professional fees	1,900		1,979		1,919		1,823		1,760				(3.99)	%	7.95	%

Advertising	1,947		1,859		1,171		2,009		2,124				4.73	%	(8.33)	%
Amortization of core deposits and other intangibles	719		752		789		840		889				(4.39)	%	(19.1)	%



Other expense	14,982		15,664		14,901		15,422		14,967				(4.35)	%	0.10	%
Total noninterest expense	76,212		75,093		72,420		80,200		82,997				1.49	%	(8.17)	%
Income before income taxes	11,394		50,906		34,250		35,922		23,150				(77.6)	%	(50.8)	%
Income tax expense	1,174		10,919		6,300		6,545		3,975				(89.2)	%	(70.5)	%
Net income applicable to FB Financial Corporation and noncontrolling interest	10,220		39,987		27,950		29,377		19,175				(74.4)	%	(46.7)	%
Net income applicable to noncontrolling interest	—		8		—		8		—				(100.0)	%	—	%

Net income applicable to FB Financial Corporation	$	10,220	$	39,979	$	27,950	$	29,369	$	19,175			(74.4)	%	(46.7)	%
Weighted average common shares outstanding:
Basic	46,650,563		46,762,488		46,874,882		46,845,055		46,818,612				(0.24)	%	(0.36)	%
Fully diluted	46,803,330		46,845,143		46,998,873		46,916,939		46,856,422				(0.09)	%	(0.11)	%
Earnings per common share:
Basic	$	0.22	$	0.85	$	0.60	$	0.63	$	0.41			(74.1)	%	(46.3)	%
Fully diluted	0.22		0.85		0.59		0.63		0.41				(74.1)	%	(46.3)	%
Fully diluted - adjusted*	0.86		0.84		0.85		0.77		0.71				2.38	%	21.1	%


Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Share Data)

					Sep 2024
					vs.
	Nine Months Ended				Sep 2023
	Sep 2024		Sep 2023		Percent variance
Interest income:
Interest and fees on loans	$	469,610	$	443,458	5.90	%
Interest on investment securities
Taxable	35,014		19,449		80.0	%
Tax-exempt	3,714		5,407		(31.3)	%
Other	30,831		35,261		(12.6)	%
Total interest income	539,169		503,575		7.07	%
Interest expense:
Deposits	220,214		187,946		17.2	%
Borrowings	10,833		9,500		14.0	%
Total interest expense	231,047		197,446		17.0	%
Net interest income	308,122		306,129		0.65	%
Provision for credit losses on loans HFI	7,648		13,603		(43.8)	%
Reversal of credit losses on unfunded commitments	(2,728)		(11,369)		(76.0)	%
Net interest income after provisions for credit losses	303,202		303,895		(0.23)	%
Noninterest income:
Mortgage banking income	36,048		36,316		(0.74)	%
Investment services and trust income	10,338		8,227		25.7	%
Service charges on deposit accounts	9,686		9,197		5.32	%
ATM and interchange fees	8,598		7,664		12.2	%

Loss from securities, net	(56,378)		(14,156)		298.3	%
(Loss) gain on sales or write-downs of other real estate owned and other assets	(5)		465		(101.1)	%

Other income	8,786		7,491		17.3	%
Total noninterest income	17,073		55,204		(69.1)	%
Total revenue	325,195		361,333		(10.0)	%
Noninterest expenses:
Salaries, commissions and employee benefits	138,381		155,299		(10.9)	%
Occupancy and equipment expense	19,582		18,618		5.18	%
Data processing	7,180		6,796		5.65	%
Legal and professional fees	5,798		7,067		(18.0)	%

Advertising	4,977		6,258		(20.5)	%
Amortization of core deposit and other intangibles	2,260		2,819		(19.8)	%

Other expense	45,547		47,872		(4.86)	%
Total noninterest expense	223,725		244,729		(8.58)	%
Income before income taxes	96,550		114,370		(15.6)	%
Income tax expense	18,393		23,507		(21.8)	%
Net income applicable to noncontrolling interest and FB Financial Corporation	78,157		90,863		(14.0)	%
Net income applicable to noncontrolling interests	8		8		—	%

Net income applicable to FB Financial Corporation	$	78,149	$	90,855	(14.0)	%
Weighted average common shares outstanding:
Basic	46,762,213		46,759,703		0.01	%
Fully diluted	46,874,037		46,802,543		0.15	%
Earnings per common share:
Basic	$	1.67	$	1.94	(13.9)	%
Fully diluted	1.67		1.94		(13.9)	%
Fully diluted - adjusted*	2.55		2.24		13.8	%


Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)

													Annualized
													Sep 2024		Sep 2024
													vs.		vs.
	As of										Jun 2024	Sep 2023
	Sep 2024		Jun 2024		Mar 2024		Dec 2023		Sep 2023				Percent variance		Percent variance
ASSETS
Cash and due from banks	$	126,470	$	192,571	$	124,772	$	146,542	$	188,317			(136.6)	%	(32.8)	%
Federal funds sold and reverse repurchase agreements	97,299		91,909		100,785		83,324		129,885				23.3	%	(25.1)	%
Interest-bearing deposits in financial institutions	727,981		516,422		645,173		581,066		530,116				163.0	%	37.3	%
Cash and cash equivalents	951,750		800,902		870,730		810,932		848,318				74.9	%	12.2	%
Investments:
Available-for-sale debt securities, at fair value	1,567,922		1,482,379		1,464,682		1,471,973		1,348,219				23.0	%	16.3	%
Equity securities, at fair value	—		—		—		—		2,934				—	%	(100.0)	%
Federal Home Loan Bank stock, at cost	32,859		33,030		33,948		34,190		34,809				(2.06)	%	(5.60)	%


Loans held for sale	103,145		106,875		82,704		67,847		103,858				(13.9)	%	(0.69)	%
Loans held for investment	9,478,129		9,309,553		9,288,909		9,408,783		9,287,225				7.20	%	2.06	%
Less: allowance for credit losses on loans HFI	156,260		155,055		151,667		150,326		146,134				3.09	%	6.93	%
Net loans held for investment	9,321,869		9,154,498		9,137,242		9,258,457		9,141,091				7.27	%	1.98	%
Premises and equipment, net	152,572		154,731		155,271		155,731		156,081				(5.55)	%	(2.25)	%
Other real estate owned, net	3,779		4,173		3,613		3,192		1,504				(37.6)	%	151.3	%
Operating lease right-of-use assets	47,346		49,123		51,421		54,295		56,240				(14.4)	%	(15.8)	%
Interest receivable	52,228		52,781		53,506		52,715		49,205				(4.17)	%	6.14	%
Mortgage servicing rights, at fair value	157,097		164,505		165,674		164,249		172,710				(17.9)	%	(9.04)	%
Goodwill	242,561		242,561		242,561		242,561		242,561				—	%	—	%
Core deposit and other intangibles, net	6,449		7,168		7,920		8,709		9,549				(39.9)	%	(32.5)	%
Bank-owned life insurance	72,167		71,930		76,574		76,143		75,739				1.31	%	(4.72)	%
Other assets	208,478		210,513		202,474		203,409		246,813				(3.85)	%	(15.5)	%
Total assets	$	12,920,222	$	12,535,169	$	12,548,320	$	12,604,403	$	12,489,631			12.2	%	3.45	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing	$	2,226,144	$	2,187,185	$	2,182,121	$	2,218,382	$	2,358,435			7.09	%	(5.61)	%
Interest-bearing checking	2,754,253		2,628,554		2,421,487		2,504,421		2,554,641				19.0	%	7.81	%
Money market and savings	4,098,496		4,157,968		4,298,938		4,204,851		4,119,357				(5.69)	%	(0.51)	%
Customer time deposits	1,378,118		1,343,934		1,471,190		1,469,811		1,431,119				10.1	%	(3.70)	%
Brokered and internet time deposits	519,200		150,361		131,192		150,822		175,516				975.9	%	195.8	%
Total deposits	10,976,211		10,468,002		10,504,928		10,548,287		10,639,068				19.3	%	3.17	%
Borrowings	182,107		360,944		360,821		390,964		226,689				(197.1)	%	(19.7)	%
Operating lease liabilities	59,584		61,932		64,562		67,643		67,542				(15.1)	%	(11.8)	%
Accrued expenses and other liabilities	139,898		143,696		138,390		142,622		183,338				(10.5)	%	(23.7)	%
Total liabilities	11,357,800		11,034,574		11,068,701		11,149,516		11,116,637				11.7	%	2.17	%
Shareholders’ equity:
Common stock, $1 par value	46,658		46,643		46,897		46,849		46,839				0.13	%	(0.39)	%
Additional paid-in capital	858,106		855,391		866,803		864,258		862,340				1.26	%	(0.49)	%
Retained earnings	732,435		730,242		698,310		678,412		656,120				1.19	%	11.6	%
Accumulated other comprehensive loss, net	(74,870)		(131,774)		(132,484)		(134,725)		(192,398)				(171.8)	%	(61.1)	%
Total common shareholders’ equity	1,562,329		1,500,502		1,479,526		1,454,794		1,372,901				16.4	%	13.8	%
Noncontrolling interest	93		93		93		93		93				—	%	—	%
Total equity	1,562,422		1,500,595		1,479,619		1,454,887		1,372,994				16.4	%	13.8	%
Total liabilities and shareholders’ equity	$	12,920,222	$	12,535,169	$	12,548,320	$	12,604,403	$	12,489,631			12.2	%	3.45	%


Average Balance and Interest Yield/Rate Analysis

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	September 30, 2024						June 30, 2024
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	9,362,937	$	157,751	6.70	%	$	9,263,822	$	154,226	6.70	%
Mortgage loans held for sale	66,828		1,102		6.56	%	80,919		1,380		6.86	%

Investment securities:
Taxable	1,487,200		13,943		3.73	%	1,464,045		11,966		3.29	%
Tax-exempt(b)	181,465		1,493		3.27	%	193,347		1,580		3.29	%
Total investment securities(b)	1,668,665		15,436		3.68	%	1,657,392		13,546		3.29	%
Federal funds sold and reverse repurchase agreements	118,715		1,687		5.65	%	108,097		1,497		5.57	%
Interest-bearing deposits with other financial institutions	701,666		9,519		5.40	%	488,123		6,641		5.47	%
FHLB stock	32,919		750		9.06	%	33,495		762		9.15	%
Total interest-earning assets(b)	11,951,730		186,245		6.20	%	11,631,848		178,052		6.16	%
Noninterest-earning assets:
Cash and due from banks	131,308						124,729
Allowance for credit losses on loans HFI	(155,665)						(151,724)
Other assets(c)(d)	814,577						766,591
Total noninterest-earning assets	790,220						739,596
Total assets	$	12,741,950					$	12,371,444
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,624,046	$	20,998	3.18	%	$	2,500,325	$	19,074	3.07	%
Money market	3,802,818		37,574		3.93	%	3,779,139		36,887		3.93	%
Savings deposits	357,165		65		0.07	%	369,779		64		0.07	%
Customer time deposits	1,349,986		13,479		3.97	%	1,387,956		13,812		4.00	%
Brokered and internet time deposits	322,667		3,972		4.90	%	123,003		1,664		5.44	%
Time deposits	1,672,653		17,451		4.15	%	1,510,959		15,476		4.12	%
Total interest-bearing deposits	8,456,682		76,088		3.58	%	8,160,202		71,501		3.52	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	21,734		79		1.45	%	24,680		122		1.99	%

Subordinated debt	130,561		1,900		5.79	%	130,464		1,615		4.98	%
Other borrowings	125,616		1,544		4.89	%	131,293		1,560		4.78	%
Total other interest-bearing liabilities	277,911		3,523		5.04	%	286,437		3,297		4.63	%
Total interest-bearing liabilities	8,734,593		79,611		3.63	%	8,446,639		74,798		3.56	%
Noninterest-bearing liabilities:
Demand deposits	2,241,512						2,222,005
Other liabilities(d)	242,155						229,426
Total noninterest-bearing liabilities	2,483,667						2,451,431
Total liabilities	11,218,260						10,898,070
Total common shareholders’ equity	1,523,597						1,473,281
Noncontrolling interest	93						93
Total equity	1,523,690						1,473,374
Total liabilities and shareholders’ equity	$	12,741,950					$	12,371,444
Net interest income(b)			$	106,634					$	103,254
Interest rate spread(b)					2.57	%					2.60	%
Net interest margin(b)(e)					3.55	%					3.57	%
Cost of total deposits					2.83	%					2.77	%
Average interest-earning assets to average interest-bearing liabilities					136.8	%					137.7	%
Tax-equivalent adjustment			$	617					$	639
Loans HFI yield components:
Contractual interest rate(b)			$	155,884	6.62	%			$	152,037	6.60	%
Origination and other loan fee income			1,779		0.08	%			1,291		0.06	%
Amortization (accretion) on purchased loans			(10)		—	%			161		0.01	%
Nonaccrual interest			98		—	%			737		0.03	%

Total loans HFI yield			$	157,751	6.70	%			$	154,226	6.70	%


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	March 31, 2024						December 31, 2023						September 30, 2023
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	9,386,794	$	154,956	6.64	%	$	9,330,176	$	155,081	6.59	%	$	9,280,530	$	153,038	6.54	%
Mortgage loans held for sale	48,566		851		7.05	%	47,293		877		7.36	%	60,291		1,047		6.89	%
Commercial loans held for sale	—		—		—	%	7,281		—		—	%	9,259		—		—	%
Investment securities:
Taxable	1,399,237		9,105		2.62	%	1,361,987		7,808		2.27	%	1,344,052		6,399		1.89	%
Tax-exempt(b)	241,379		1,950		3.25	%	283,395		2,361		3.31	%	291,863		2,428		3.30	%
Total investment securities(b)	1,640,616		11,055		2.71	%	1,645,382		10,169		2.45	%	1,635,915		8,827		2.14	%
Federal funds sold and reverse repurchase agreements	155,380		2,126		5.50	%	107,276		1,518		5.61	%	95,326		1,375		5.72	%
Interest-bearing deposits with other financial institutions	530,390		7,066		5.36	%	525,763		7,195		5.43	%	696,600		9,620		5.48	%
FHLB stock	34,051		783		9.25	%	34,556		831		9.54	%	36,624		841		9.11	%
Total interest-earning assets(b)	11,795,797		176,837		6.03	%	11,697,727		175,671		5.96	%	11,814,545		174,748		5.87	%
Noninterest-earning assets:
Cash and due from banks	167,732						127,715						128,780
Allowance for credit losses on loans HFI	(150,605)						(147,035)						(140,033)
Other assets(c)(d)	777,155						756,168						753,866
Total noninterest-earning assets	794,282						736,848						742,613
Total assets	$	12,590,079					$	12,434,575					$	12,557,158
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,539,084	$	19,016	3.01	%	$	2,500,139	$	18,444	2.93	%	$	2,668,970	$	20,506	3.05	%
Money market	3,849,080		37,570		3.93	%	3,761,500		36,740		3.88	%	3,661,262		34,902		3.78	%
Savings deposits	377,963		62		0.07	%	388,296		67		0.07	%	410,403		65		0.06	%
Customer time deposits	1,457,377		14,124		3.90	%	1,447,094		13,463		3.69	%	1,400,290		11,909		3.37	%
Brokered and internet time deposits	140,292		1,853		5.31	%	162,317		2,159		5.28	%	182,652		2,444		5.31	%
Time deposits	1,597,669		15,977		4.02	%	1,609,411		15,622		3.85	%	1,582,942		14,353		3.60	%
Total interest-bearing deposits	8,363,796		72,625		3.49	%	8,259,346		70,873		3.40	%	8,323,577		69,826		3.33	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	24,219		149		2.47	%	31,673		177		2.22	%	30,520		349		4.54	%
Federal Home Loan Bank advances	—		—		—	%	—		—		—	%	13,859		204		5.84	%
Subordinated debt	129,718		2,286		7.09	%	128,621		2,604		8.03	%	127,605		2,600		8.08	%
Other borrowings	131,318		1,578		4.83	%	8,407		93		4.39	%	1,365		7		2.03	%
Total other interest-bearing liabilities	285,255		4,013		5.66	%	168,701		2,874		6.76	%	173,349		3,160		7.23	%
Total interest-bearing liabilities	8,649,051		76,638		3.56	%	8,428,047		73,747		3.47	%	8,496,926		72,986		3.41	%
Noninterest-bearing liabilities:
Demand deposits	2,227,175						2,341,627						2,410,280
Other liabilities(d)	253,024						279,435						256,606
Total noninterest-bearing liabilities	2,480,199						2,621,062						2,666,886
Total liabilities	11,129,250						11,049,109						11,163,812
Total common shareholders’ equity	1,460,736						1,385,373						1,393,253
Noncontrolling interest	93						93						93
Total equity	1,460,829						1,385,466						1,393,346
Total liabilities and shareholders’ equity	$	12,590,079					$	12,434,575					$	12,557,158
Net interest income(b)			$	100,199					$	101,924					$	101,762
Interest rate spread(b)					2.47	%					2.49	%					2.46	%
Net interest margin(b)(e)					3.42	%					3.46	%					3.42	%
Cost of total deposits					2.76	%					2.65	%					2.58	%
Average interest-earning assets to average interest-bearing liabilities					136.4	%					138.8	%					139.0	%
Tax-equivalent adjustment			$	709					$	836					$	836
Loans HFI yield components:
Contractual interest rate(b)			$	152,875	6.55	%			$	151,193	6.43	%			$	147,806	6.32	%
Origination and other loan fee income			1,436		0.06	%			3,322		0.14	%			4,345		0.19	%
Accretion on purchased loans			387		0.02	%			77		—	%			312		0.01	%
Nonaccrual interest			258		0.01	%			489		0.02	%			575		0.02	%

Total loans HFI yield			$	154,956	6.64	%			$	155,081	6.59	%			$	153,038	6.54	%


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Nine Months Ended
	September 30, 2024						September 30, 2023
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	9,337,942	$	466,933	6.68	%	$	9,337,932	$	440,920	6.31	%
Mortgage loans held for sale	65,443		3,333		6.80	%	59,982		2,979		6.64	%
Commercial loans held for sale			—		—	%	11,721		162		1.85	%
Investment securities:
Taxable	1,450,295		35,014		3.22	%	1,373,461		19,449		1.89	%
Tax-exempt(b)	205,310		5,023		3.27	%	293,408		7,313		3.33	%
Total investment securities(b)	1,655,605		40,037		3.23	%	1,666,869		26,762		2.15	%
Federal funds sold and reverse repurchase agreements	127,365		5,310		5.57	%	114,706		4,280		4.99	%
Interest-bearing deposits with other financial institutions	573,861		23,226		5.41	%	760,895		28,457		5.00	%
FHLB stock	33,486		2,295		9.15	%	41,912		2,524		8.05	%
Total interest-earning assets(b)	11,793,702		541,134		6.13	%	11,994,017		506,084		5.64	%
Noninterest-earning assets:
Cash and due from banks	141,220						133,881
Allowance for credit losses on loans HFI	(152,675)						(137,958)
Other assets(c)(d)	786,211						757,606
Total noninterest-earning assets	774,756						753,529
Total assets	$	12,568,458					$	12,747,546
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,554,739	$	59,088	3.09	%	$	2,985,265	$	63,317	2.84	%
Money market	3,810,318		112,031		3.93	%	3,517,106		89,465		3.40	%
Savings deposits	368,262		191		0.07	%	433,811		192		0.06	%
Customer time deposits	1,398,263		41,415		3.96	%	1,432,680		31,788		2.97	%
Brokered and internet time deposits	195,785		7,489		5.11	%	80,902		3,184		5.26	%
Time deposits	1,594,048		48,904		4.10	%	1,513,582		34,972		3.09	%
Total interest-bearing deposits	8,327,367		220,214		3.53	%	8,449,764		187,946		2.97	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	23,537		350		1.99	%	29,249		492		2.25	%
Federal Home Loan Bank advances	—		—		—	%	38,736		1,487		5.13	%
Subordinated debt	130,249		5,801		5.95	%	126,970		7,498		7.90	%
Other borrowings	129,396		4,682		4.83	%	1,478		23		2.08	%
Total other interest-bearing liabilities	283,182		10,833		5.11	%	196,433		9,500		6.47	%
Total interest-bearing liabilities	8,610,549		231,047		3.58	%	8,646,197		197,446		3.05	%
Noninterest-bearing liabilities:
Demand deposits	2,230,271						2,475,850
Other liabilities(d)	241,535						254,128
Total noninterest-bearing liabilities	2,471,806						2,729,978
Total liabilities	11,082,355						11,376,175
Total common shareholders’ equity	1,486,010						1,371,278
Noncontrolling interest	93						93
Total equity	1,486,103						1,371,371
Total liabilities and shareholders’ equity	$	12,568,458					$	12,747,546
Net interest income(b)			$	310,087					$	308,638
Interest rate spread(b)					2.55	%					2.59	%
Net interest margin(b)(e)					3.51	%					3.44	%
Cost of total deposits					2.79	%					2.30	%
Average interest-earning assets to average interest-bearing liabilities					137.0	%					138.7	%
Tax equivalent adjustment			$	1,965					$	2,509
Loans HFI yield components:
Contractual interest rate(b)			$	460,796	6.59	%			$	428,000	6.13	%
Origination and other loan fee income			4,506		0.06	%			11,353		0.16	%
Accretion on purchased loans			538		0.01	%			617		0.01	%
Nonaccrual interest			1,093		0.02	%			950		0.01	%

Total loans HFI yield			$	466,933	6.68	%			$	440,920	6.31	%


Investments and Other Sources of Liquidity
(Unaudited)
(Dollars in Thousands)

	As of
	Sep 2024					Jun 2024					Mar 2024					Dec 2023					Sep 2023
Investment securities, at fair value
Available-for-sale debt securities:
U.S. government agency securities	$	516,833		33	%	$	428,608		29	%	$	415,927		28	%	$	203,956		14	%	$	105,801		8	%
Mortgage-backed securities - residential	879,589			56	%	864,272			59	%	826,214			57	%	896,971			62	%	871,074			65	%
Mortgage-backed securities - commercial	16,289			1	%	16,103			1	%	16,615			1	%	16,961			1	%	16,677			1	%
Municipal securities	154,229			10	%	169,977			11	%	171,672			12	%	242,263			16	%	244,611			18	%
Treasury securities	—			—	%	—			—	%	30,857			2	%	108,496			7	%	106,798			8	%
Corporate securities	982			—	%	3,419			—	%	3,397			—	%	3,326			—	%	3,258			—	%
Total available-for-sale debt securities	1,567,922			100	%	1,482,379			100	%	1,464,682			100	%	1,471,973			100	%	1,348,219			100	%
Equity securities, at fair value	—			—	%	—			—	%	—			—	%	—			—	%	2,934			—	%
Total investment securities, at fair value	$	1,567,922		100	%	$	1,482,379		100	%	$	1,464,682		100	%	$	1,471,973		100	%	$	1,351,153		100	%
Investment securities to total assets	12.1		%			11.8		%			11.7		%			11.7		%			10.8		%
Unrealized loss on available-for-sale debt securities	(105,157)					(182,208)					(183,598)					(186,806)					(265,048)

Sources of liquidity
Current on-balance sheet:
Cash and cash equivalents	$	951,750		65	%	$	800,902		57	%	$	870,730		63	%	$	810,932		60	%	$	848,318		63	%
Unpledged available-for-sale debt securities	510,538			35	%	612,756			43	%	514,724			37	%	542,427			40	%	494,582			37	%
Equity securities, at fair value	—			—	%	—			—	%	—			—	%	—			—	%	2,934			—	%
Total on-balance sheet liquidity	$	1,462,288		100	%	$	1,413,658		100	%	$	1,385,454		100	%	$	1,353,359		100	%	$	1,345,834		100	%

Available sources of liquidity:
Unsecured borrowing capacity(a)	$	3,199,575		48	%	$	3,361,580		49	%	$	3,392,255		48	%	$	3,350,026		48	%	$	3,371,911		50	%
FHLB remaining borrowing capacity	1,355,884			20	%	1,294,743			19	%	1,237,843			18	%	1,297,702			18	%	1,005,295			15	%
Federal Reserve discount window	2,133,951			32	%	2,230,338			32	%	2,382,574			34	%	2,431,084			34	%	2,398,285			35	%
Total available sources of liquidity	$	6,689,410		100	%	$	6,886,661		100	%	$	7,012,672		100	%	$	7,078,812		100	%	$	6,775,491		100	%

On-balance sheet liquidity as a percentage of total assets	11.3		%			11.3		%			11.0		%			10.7		%			10.8		%
On-balance sheet liquidity as a percentage of total tangible assets*	11.5		%			11.5		%			11.3		%			11.0		%			11.0		%
On-balance sheet liquidity and available sources of liquidity as a percentage of estimated uninsured and uncollateralized deposits(b)	245.4		%			259.2		%			268.1		%			269.0		%			264.7		%


Loan Portfolio

(Unaudited)
(Dollars in Thousands)

	As of
	Sep 2024		% of Total		Jun 2024		% of Total		Mar 2024		% of Total		Dec 2023		% of Total		Sep 2023		% of Total
Loan portfolio
Commercial and industrial	$	1,688,815	18	%	$	1,614,307	17	%	$	1,621,611	17	%	$	1,720,733	18	%	$	1,667,857	18	%
Construction	1,079,726		11	%	1,200,123		13	%	1,268,883		14	%	1,397,313		15	%	1,532,306		16	%
Residential real estate:
1-to-4 family mortgage	1,612,031		17	%	1,584,029		17	%	1,577,824		17	%	1,568,552		17	%	1,553,096		17	%
Residential line of credit	591,049		6	%	559,359		6	%	549,306		6	%	530,912		6	%	517,082		6	%
Multi-family mortgage	654,188		7	%	597,039		6	%	615,081		7	%	603,804		6	%	501,323		5	%
Commercial real estate:
Owner-occupied	1,324,208		14	%	1,274,705		14	%	1,236,007		13	%	1,232,071		13	%	1,206,351		13	%
Non-owner occupied	2,048,036		22	%	2,035,102		22	%	1,991,526		21	%	1,943,525		21	%	1,911,913		21	%
Consumer and other	480,076		5	%	444,889		5	%	428,671		5	%	411,873		4	%	397,297		4	%
Total loans HFI	$	9,478,129	100	%	$	9,309,553	100	%	$	9,288,909	100	%	$	9,408,783	100	%	$	9,287,225	100	%
Percentage of loans HFI portfolio with floating interest rates			49.2	%			49.8	%			49.0	%			48.5	%			47.6	%
Percentage of loans HFI portfolio with floating interest rates that mature after one year			43.6	%			43.4	%			42.4	%			41.3	%			40.6	%

Loans by market
Metropolitan	$	7,795,075	82	%	$	7,668,893	82	%	$	7,668,330	83	%	$	7,830,739	83	%	$	7,691,944	83	%
Community	565,194		6	%	567,465		6	%	599,557		6	%	629,152		7	%	649,269		7	%
Specialty lending and other	1,117,860		12	%	1,073,195		12	%	1,021,022		11	%	948,892		10	%	946,012		10	%
Total	$	9,478,129	100	%	$	9,309,553	100	%	$	9,288,909	100	%	$	9,408,783	100	%	$	9,287,225	100	%

Unfunded loan commitments
Commercial and industrial	$	1,314,683	48	%	$	1,286,013	47	%	$	1,255,409	46	%	$	1,262,234	44	%	$	1,309,390	41	%
Construction	510,157		19	%	516,813		19	%	590,575		21	%	725,864		25	%	922,219		30	%
Residential real estate:
1-to-4 family mortgage	3,665		—	%	5,597		—	%	1,485		—	%	973		—	%	946		—	%
Residential line of credit	735,928		27	%	721,949		27	%	702,939		25	%	700,126		24	%	685,597		22	%
Multi-family mortgage	11,771		—	%	12,526		—	%	25,047		1	%	23,583		1	%	21,951		1	%
Commercial real estate:
Owner-occupied	67,875		3	%	77,498		3	%	77,400		3	%	73,432		2	%	52,975		2	%
Non-owner occupied	51,960		2	%	73,178		3	%	82,370		3	%	82,966		3	%	93,910		3	%
Consumer and other	17,321		1	%	29,103		1	%	25,058		1	%	25,509		1	%	24,886		1	%
Total unfunded loans HFI	$	2,713,360	100	%	$	2,722,677	100	%	$	2,760,283	100	%	$	2,894,687	100	%	$	3,111,874	100	%


Asset Quality

(Unaudited)
(Dollars in Thousands)

	As of or for the Three Months Ended
	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023
Allowance for credit losses on loans HFI roll forward summary
Allowance for credit losses on loans HFI at the beginning of the period	$	155,055		$	151,667		$	150,326		$	146,134		$	140,664


Charge-offs	(915)			(913)			(927)			(1,048)			(796)
Recoveries	264			361			416			2,105			235
Provision for credit losses on loans HFI	1,856			3,940			1,852			3,135			6,031


Allowance for credit losses on loans HFI at the end of the period	$	156,260		$	155,055		$	151,667		$	150,326		$	146,134
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.65		%	1.67		%	1.63		%	1.60		%	1.57		%

Allowance for credit losses on unfunded commitments	$	6,042		$	5,984		$	7,700		$	8,770		$	11,600
Charge-offs
Commercial and industrial	$	(90)		$	(26)		$	(43)		$	(251)		$	(154)
Construction	—			—			(92)			—			—
Residential real estate:
1-to-4 family mortgage	(2)			(293)			—			(10)			(4)
Residential line of credit	(53)			—			(20)			—			—

Commercial real estate:


Consumer and other	(770)			(594)			(772)			(787)			(638)
Total charge-offs	(915)			(913)			(927)			(1,048)			(796)
Recoveries
Commercial and industrial	23			20			14			81			112

Residential real estate:
1-to-4 family mortgage	9			10			56			44			16
Residential line of credit	18			—			—			—			1

Commercial real estate:
Owner occupied	12			188			40			14			13
Non-owner occupied	—			—			—			1,833			—
Consumer and other	202			143			306			133			93
Total recoveries	264			361			416			2,105			235
Net (charge-offs) recoveries	$	(651)		$	(552)		$	(511)		$	1,057		$	(561)
Annualized net charge-offs (recoveries) as a percentage of average loans HFI	0.03		%	0.02		%	0.02		%	(0.04)		%	0.02		%
Nonperforming assets
Loans past due 90 days or more and accruing interest	$	26,250		$	17,058		$	12,858		$	12,693		$	11,649
Nonaccrual loans	64,585			56,165			54,892			48,230			42,878
Total nonperforming loans HFI	90,835			73,223			67,750			60,923			54,527
Commercial loans held for sale	—			—			—			—			9,260
Mortgage loans held for sale(a)	30,537			22,354			20,876			21,229			22,074

Other real estate owned	3,779			4,173			3,613			3,192			1,504

Other repossessed assets	2,182			1,720			1,834			1,139			1,300
Total nonperforming assets	$	127,333		$	101,470		$	94,073		$	86,483		$	88,665
Total nonperforming loans HFI as a percentage of loans HFI	0.96		%	0.79		%	0.73		%	0.65		%	0.59		%
Total nonperforming assets as a percentage of total assets	0.99		%	0.81		%	0.75		%	0.69		%	0.71		%
Total nonaccrual loans as a percentage of loans HFI	0.68		%	0.60		%	0.59		%	0.51		%	0.46		%


Selected Deposit Data

(Unaudited)
(Dollars in Thousands)

	As of
	Sep 2024					Jun 2024					Mar 2024					Dec 2023					Sep 2023





Deposits by market
Metropolitan	$	7,794,790		71	%	$	7,440,577		71	%	$	7,506,630		72	%	$	7,536,301		72	%	$	7,481,006		70	%
Community	2,459,641			22	%	2,499,574			24	%	2,500,182			24	%	2,522,536			24	%	2,571,667			24	%
Brokered/wholesale	519,200			5	%	150,113			1	%	130,845			1	%	150,475			1	%	174,920			2	%
Escrow and other(a)	202,580			2	%	377,738			4	%	367,271			3	%	338,975			3	%	411,475			4	%
Total	$	10,976,211		100	%	$	10,468,002		100	%	$	10,504,928		100	%	$	10,548,287		100	%	$	10,639,068		100	%

Deposits by customer segment
Consumer	$	4,676,492		43	%	$	4,675,189		45	%	$	4,866,099		46	%	$	4,880,890		46	%	$	4,893,792		46	%
Commercial	4,886,660			45	%	4,270,924			41	%	4,085,282			39	%	4,069,724			39	%	4,126,424			39	%
Public	1,413,059			12	%	1,521,889			14	%	1,553,547			15	%	1,597,673			15	%	1,618,852			15	%
Total	$	10,976,211		100	%	$	10,468,002		100	%	$	10,504,928		100	%	$	10,548,287		100	%	$	10,639,068		100	%

Estimated insured or collateralized deposits	$	7,654,786				$	7,265,975				$	7,372,728				$	7,414,224				$	7,570,639





Estimated uninsured and uncollateralized deposits(b)	$	3,321,425				$	3,202,027				$	3,132,200				$	3,134,063				$	3,068,429

Estimated uninsured and uncollateralized deposits as a % of total deposits(b)	30.3		%			30.6		%			29.8		%			29.7		%			28.8		%


Preliminary Capital Ratios
(Unaudited)
(Dollars in Thousands)


Computation of Tangible Common Equity to Tangible Assets:	September 30, 2024			December 31, 2023

Total Common Shareholders' Equity	$	1,562,329		$	1,454,794
Less:
Goodwill	242,561			242,561
Other intangibles	6,449			8,709
Tangible Common Equity	$	1,313,319		$	1,203,524

Total Assets	$	12,920,222		$	12,604,403
Less:
Goodwill	242,561			242,561
Other intangibles	6,449			8,709
Tangible Assets	$	12,671,212		$	12,353,133

Preliminary Total Risk-Weighted Assets	$	11,149,537		$	11,257,406

Total Common Equity to Total Assets	12.1		%	11.5		%
Tangible Common Equity to Tangible Assets*	10.4		%	9.74		%


	September 30, 2024			December 31, 2023
Preliminary Regulatory Capital:
Common Equity Tier 1 Capital	$	1,417,410		$	1,375,890
Tier 1 Capital	1,447,410			1,405,890
Total Capital	1,686,651			1,635,848

Preliminary Regulatory Capital Ratios:
Common Equity Tier 1	12.7		%	12.2		%
Tier 1 Risk-Based	13.0		%	12.5		%
Total Risk-Based	15.1		%	14.5		%
Tier 1 Leverage	11.5		%	11.3		%

*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.


Segment Data
(Unaudited)
(Dollars in Thousands)

	As of or for the Three Months Ended
	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023
Banking segment
Net interest income	$	104,335		$	101,193		$	98,462		$	99,811		$	99,359
Provisions for credit losses	1,861			2,432			838			283			3,253

Noninterest (loss) income	(28,370)			13,477			(4,794)			6,889			(4,031)


Other noninterest expense	63,285			62,329			60,344			68,463			68,712
Pre-tax net contribution after allocations	$	10,819		$	49,909		$	32,486		$	37,954		$	23,363
Total assets	$	12,337,135		$	11,947,550		$	11,979,904		$	12,050,245		$	11,904,608

Efficiency ratio	83.3		%	54.4		%	64.4		%	64.2		%	72.1		%
Core efficiency ratio*	54.1		%	53.9		%	54.4		%	56.5		%	58.0		%
Mortgage segment
Net interest income	$	1,682		$	1,422		$	1,028		$	1,277		$	1,567
Provisions for (reversals of) loan losses	53			(208)			(56)			22			(432)
Mortgage banking income	11,553			11,910			12,585			8,376			11,998
Other noninterest income	320			221			171			74			75


Other noninterest expense	12,927			12,764			12,076			11,737			14,285
Pre-tax net contribution (loss) after allocations	$	575		$	997		$	1,764		$	(2,032)		$	(213)
Total assets	$	583,087		$	587,619		$	568,416		$	554,158		$	585,023

Efficiency ratio	95.4		%	94.2		%	87.6		%	120.7		%	104.7		%
Core efficiency ratio*	95.4		%	95.0		%	88.0		%	120.3		%	104.7		%










Interest rate lock commitments volume	$	381,240		$	385,197		$	377,166		$	245,776		$	373,068




Interest rate lock commitments pipeline (period end)	$	105,714		$	108,694		$	130,315		$	69,217		$	112,810




Mortgage loan sales	$	327,269		$	315,044		$	243,461		$	257,170		$	325,322
Gains and fees from origination and sale of mortgage loans held for sale	$	9,279		$	8,934		$	6,458		$	7,389		$	8,941
Net change in fair value of loans held for sale, derivatives, and other	(480)			(4)			1,821			(1,686)			(582)
Mortgage servicing income	7,244			7,316			7,347			7,546			7,363
Change in fair value of mortgage servicing rights, net of hedging	(4,490)			(4,336)			(3,041)			(4,873)			(3,724)
Total mortgage banking income	$	11,553		$	11,910		$	12,585		$	8,376		$	11,998
Mortgage sale margin(a)	2.84		%	2.84		%	2.65		%	2.87		%	2.75		%


Non-GAAP Reconciliations

(Unaudited)
(Dollars in Thousands, Except Share Data)

	Three Months Ended										Nine Months Ended
Adjusted net income	Sep 2024		Jun 2024		Mar 2024		Dec 2023		Sep 2023		Sep 2024		Sep 2023
Income before income taxes	$	11,394	$	50,906	$	34,250	$	35,922	$	23,150	$	96,550	$	114,370
Less (loss) gain from securities, net	(40,165)		—		(16,213)		183		(14,197)		(56,378)		(14,156)
Less (loss) gain on sales or write- downs of other real estate owned and other assets	(289)		(281)		565		(492)		115		(5)		465
Less cash life insurance benefit	—		2,057		—		—		—		2,057		—
Less (loss) gain from changes in fair value of commercial loans held for sale	—		—		—		(3,009)		(7)		—		895
Plus early retirement, severance and other costs	—		1,015		—		2,214		4,809		1,015		6,235
Plus loss (gain) on lease terminations	—		—		—		1,843		—		—		(73)
Plus FDIC special assessment	—		—		500		1,788		—		500		—


Adjusted pre-tax net income	51,848		50,145		50,398		45,085		42,048		152,391		133,328
Income tax expense, adjusted for items above	11,716		10,721		10,508		8,933		8,900		32,945		28,447
Adjusted net income	$	40,132	$	39,424	$	39,890	$	36,152	$	33,148	$	119,446	$	104,881
Weighted average common share outstanding - fully diluted	46,803,330		46,845,143		46,998,873		46,916,939		46,856,422		46,874,037		46,802,543
Adjusted diluted earnings per common share
Diluted earnings per common share	$	0.22	$	0.85	$	0.59	$	0.63	$	0.41	$	1.67	$	1.94








Adjusted diluted earnings per common share	$	0.86	$	0.84	$	0.85	$	0.77	$	0.71	$	2.55	$	2.24


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands, Except Share Data)

	Three Months Ended										Nine Months Ended
Adjusted pre-tax pre-provision net revenue	Sep 2024		Jun 2024		Mar 2024		Dec 2023		Sep 2023		Sep 2024		Sep 2023
Income before income taxes	$	11,394	$	50,906	$	34,250	$	35,922	$	23,150	$	96,550	$	114,370
Plus provisions for credit losses	1,914		2,224		782		305		2,821		4,920		2,234
Pre-tax pre-provision net revenue	13,308		53,130		35,032		36,227		25,971		101,470		116,604
Less (loss) gain from securities, net	(40,165)		—		(16,213)		183		(14,197)		(56,378)		(14,156)
Less (loss) gain on sales or write- downs of other real estate owned and other assets	(289)		(281)		565		(492)		115		(5)		465
Less cash life insurance benefit	—		2,057		—		—		—		2,057		—
Less (loss) gain from changes in fair value of commercial loans held for sale	—		—		—		(3,009)		(7)		—		895
Plus early retirement, severance and other costs	—		1,015		—		2,214		4,809		1,015		6,235
Plus loss (gain) on lease terminations	—		—		—		1,843		—		—		(73)
Plus FDIC special assessment	—		—		500		1,788		—		500		—

Adjusted pre-tax pre-provision net revenue	$	53,762	$	52,369	$	51,180	$	45,390	$	44,869	$	157,311	$	135,562



	Three Months Ended										Nine Months Ended
Adjusted tangible net income	Sep 2024		Jun 2024		Mar 2024		Dec 2023		Sep 2023		Sep 2024		Sep 2023
Income before income taxes	$	11,394	$	50,906	$	34,250	$	35,922	$	23,150	$	96,550	$	114,370

Plus amortization of core deposit and other intangibles	719		752		789		840		889		2,260		2,819
Less (loss) gain from securities, net	(40,165)		—		(16,213)		183		(14,197)		(56,378)		(14,156)
Less (loss) gain on sales or write- downs of other real estate owned and other assets	(289)		(281)		565		(492)		115		(5)		465
Less cash life insurance benefit	—		2,057		—		—		—		2,057		—
Less (loss) gain from changes in fair value of commercial loans held for sale	—		—		—		(3,009)		(7)		—		895
Plus early retirement, severance and other costs	—		1,015		—		2,214		4,809		1,015		6,235
Plus loss (gain) on lease terminations	—		—		—		1,843		—		—		(73)
Plus FDIC special assessment	—		—		500		1,788		—		500		—

Less income tax expense, adjusted for items above	11,904		10,917		10,714		9,152		9,131		33,534		29,182
Adjusted tangible net income	$	40,663	$	39,980	$	40,473	$	36,773	$	33,806	$	121,117	$	106,965


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)









	Three Months Ended															Nine Months Ended
Core efficiency ratio (tax-equivalent basis)	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023			Sep 2024			Sep 2023
Total noninterest expense	$	76,212		$	75,093		$	72,420		$	80,200		$	82,997		$	223,725		$	244,729



Less early retirement, severance and other costs	—			1,015			—			2,214			4,809			1,015			6,235
Less loss (gain) on lease terminations	—			—			—			1,843			—			—			(73)
Less FDIC special assessment	—			—			500			1,788			—			500			—

Core noninterest expense	$	76,212		$	74,078		$	71,920		$	74,355		$	78,188		$	222,210		$	238,567
Net interest income	$	106,017		$	102,615		$	99,490		$	101,088		$	100,926		$	308,122		$	306,129
Net interest income (tax-equivalent basis)	$	106,634		$	103,254		$	100,199		$	101,924		$	101,762		$	310,087		$	308,638
Total noninterest (loss) income	(16,497)			25,608			7,962			15,339			8,042			17,073			55,204
Less (loss) gain from securities, net	(40,165)			—			(16,213)			183			(14,197)			(56,378)			(14,156)
Less (loss) gain on sales or write- downs of other real estate owned and other assets	(289)			(281)			565			(492)			115			(5)			465
Less cash life insurance benefit	—			2,057			—			—			—			2,057			—
Less (loss) gain from changes in fair value of commercial loans held for sale	—			—			—			(3,009)			(7)			—			895


Core noninterest income	23,957			23,832			23,610			18,657			22,131			71,399			68,000
Total revenue	$	89,520		$	128,223		$	107,452		$	116,427		$	108,968		$	325,195		$	361,333
Core revenue (tax-equivalent basis)	$	130,591		$	127,086		$	123,809		$	120,581		$	123,893		$	381,486		$	376,638
Efficiency ratio	85.1		%	58.6		%	67.4		%	68.9		%	76.2		%	68.8		%	67.7		%
Core efficiency ratio (tax-equivalent basis)	58.4		%	58.3		%	58.1		%	61.7		%	63.1		%	58.2		%	63.3		%


Non-GAAP Reconciliations (continued)
For the Periods Ended
(Unaudited)
(Dollars in Thousands)

	Three Months Ended															Nine Months Ended
Banking segment core efficiency ratio (tax-equivalent)	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023			Sep 2024			Sep 2023
Banking segment noninterest expense	$	63,285		$	62,329		$	60,344		$	68,463		$	68,712		$	185,958		$	206,977
Less early retirement, severance and other costs	—			1,015			—			2,214			4,809			1,015			5,810
Less loss on lease terminations	—			—			—			1,843			—			—			—
Less FDIC special assessment	—			—			500			1,788			—			500			—
Banking segment core noninterest expense	$	63,285		$	61,314		$	59,844		$	62,618		$	63,903		$	184,443		$	201,167
Banking segment net interest income	104,335			101,193			98,462			99,811			99,359			303,990			306,129
Banking segment net interest income (tax-equivalent basis)	104,952			101,832			99,171			100,647			100,195			305,955			308,638
Banking segment noninterest (loss) income	(28,370)			13,477			(4,794)			6,889			(4,031)			(19,687)			18,942
Less (loss) gain from securities, net	(40,165)			—			(16,213)			183			(14,197)			(56,378)			(14,156)
Less (loss) gain from changes in fair value of commercial loans held for sale	—			—			—			(3,009)			(7)			—			895

Less cash life insurance benefit	—			2,057			—			—			—			2,057			—
Less (loss) gain on sales or write- downs of other real estate owned and other assets	(299)			(398)			509			(460)			119			(188)			926
Banking segment core noninterest income	12,094			11,818			10,910			10,175			10,054			34,822			31,277
Banking segment total revenue	$	75,965		$	114,670		$	93,668		$	106,700		$	95,328		$	284,303		$	325,071
Banking segment total core revenue (tax-equivalent basis)	$	117,046		$	113,650		$	110,081		$	110,822		$	110,249		$	340,777		$	339,915
Banking segment efficiency ratio	83.3		%	54.4		%	64.4		%	64.2		%	72.1		%	65.4		%	63.7		%
Banking segment core efficiency ratio (tax-equivalent basis)	54.1		%	53.9		%	54.4		%	56.5		%	58.0		%	54.1		%	59.2		%





	Three Months Ended															Nine Months Ended
Mortgage segment core efficiency ratio (tax-equivalent)	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023			Sep 2024			Sep 2023
Mortgage segment noninterest expense	$	12,927		$	12,764		$	12,076		$	11,737		$	14,285		$	37,767		$	37,752
Less severance costs	—			—			—			—			—			—			425
Less gain on lease terminations	—			—			—			—			—			—			(73)



Mortgage segment core noninterest expense	$	12,927		$	12,764		$	12,076		$	11,737		$	14,285		$	37,767		$	37,400
Mortgage segment net interest income	1,682			1,422			1,028			1,277			1,567			4,132			—
Mortgage segment noninterest income	11,873			12,131			12,756			8,450			12,073			36,760			36,262
Less gain (loss) on sales or write- downs of other real estate owned	10			117			56			(32)			(4)			183			(461)
Mortgage segment core noninterest income	11,863			12,014			12,700			8,482			12,077			36,577			36,723
Mortgage segment total revenue	$	13,555		$	13,553		$	13,784		$	9,727		$	13,640		$	40,892		$	36,262
Mortgage segment core total revenue	$	13,545		$	13,436		$	13,728		$	9,759		$	13,644		$	40,709		$	36,723
Mortgage segment efficiency ratio	95.4		%	94.2		%	87.6		%	120.7		%	104.7		%	92.4		%	104.1		%
Mortgage segment core efficiency ratio (tax-equivalent basis)	95.4		%	95.0		%	88.0		%	120.3		%	104.7		%	92.8		%	101.8		%


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands, Except Share Data)

	As of
Tangible assets, common equity and related measures	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023
Tangible assets
Total assets	$	12,920,222		$	12,535,169		$	12,548,320		$	12,604,403		$	12,489,631
Less goodwill	242,561			242,561			242,561			242,561			242,561
Less intangibles, net	6,449			7,168			7,920			8,709			9,549
Tangible assets	$	12,671,212		$	12,285,440		$	12,297,839		$	12,353,133		$	12,237,521
Tangible common equity
Total common shareholders’ equity	$	1,562,329		$	1,500,502		$	1,479,526		$	1,454,794		$	1,372,901
Less goodwill	242,561			242,561			242,561			242,561			242,561
Less intangibles, net	6,449			7,168			7,920			8,709			9,549
Tangible common equity	$	1,313,319		$	1,250,773		$	1,229,045		$	1,203,524		$	1,120,791


Common shares outstanding	46,658,019			46,642,958			46,897,378			46,848,934			46,839,159
Book value per common share	$	33.48		$	32.17		$	31.55		$	31.05		$	29.31
Tangible book value per common share	$	28.15		$	26.82		$	26.21		$	25.69		$	23.93

Total common shareholders’ equity to total assets	12.1		%	12.0		%	11.8		%	11.5		%	11.0		%
Tangible common equity to tangible assets	10.4		%	10.2		%	9.99		%	9.74		%	9.16		%
On-balance sheet liquidity:
Cash and cash equivalents	$	951,750		$	800,902		$	870,730		$	810,932		$	848,318
Unpledged securities	510,538			612,756			514,724			542,427			494,582
Equity securities, at fair value	—			—			—			—			2,934
Total on-balance sheet liquidity	$	1,462,288		$	1,413,658		$	1,385,454		$	1,353,359		$	1,345,834
On-balance sheet liquidity as a percentage of total assets	11.3		%	11.3		%	11.0		%	10.7		%	10.8		%
On-balance sheet liquidity as a percentage of total tangible assets	11.5		%	11.5		%	11.3		%	11.0		%	11.0		%


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)


	Three Months Ended															Nine Months Ended
Adjusted return on average tangible common equity and related measures	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023			Sep 2024			Sep 2023
Average common shareholders’ equity	$	1,523,597		$	1,473,281		$	1,460,736		$	1,385,373		$	1,393,253		$	1,486,010		$	1,371,278
Less average goodwill	242,561			242,561			242,561			242,561			242,561			242,561			242,561
Less average intangibles, net	6,795			7,525			8,299			9,138			10,011			7,536			10,922
Average tangible common equity	$	1,274,241		$	1,223,195		$	1,209,876		$	1,133,674		$	1,140,681		$	1,235,913		$	1,117,795
Net income	$	10,220		$	39,979		$	27,950		$	29,369		$	19,175		$	78,149		$	90,855
Return on average common equity	2.67		%	10.9		%	7.70		%	8.41		%	5.46		%	7.02		%	8.86		%
Return on average tangible common equity	3.19		%	13.1		%	9.29		%	10.3		%	6.67		%	8.45		%	10.9		%
Adjusted tangible net income	$	40,663		$	39,980		$	40,473		$	36,773		$	33,806		$	121,117		$	106,965
Adjusted return on average tangible common equity	12.7		%	13.1		%	13.5		%	12.9		%	11.8		%	13.1		%	12.8		%












	Three Months Ended															Nine Months Ended
Adjusted return on average assets, common equity and related measures	Sep 2024			Jun 2024			Mar 2024			Dec 2023			Sep 2023			Sep 2024			Sep 2023
Net income	$	10,220		$	39,979		$	27,950		$	29,369		$	19,175		$	78,149		$	90,855
Average assets	12,741,950			12,371,444			12,590,079			12,434,575			12,557,158			12,568,458			12,747,546
Average common equity	1,523,597			1,473,281			1,460,736			1,385,373			1,393,253			1,486,010			1,371,278
Return on average assets	0.32		%	1.30		%	0.89		%	0.94		%	0.61		%	0.83		%	0.95		%
Return on average common equity	2.67		%	10.9		%	7.70		%	8.41		%	5.46		%	7.02		%	8.86		%
Adjusted net income	$	40,132		$	39,424		$	39,890		$	36,152		$	33,148		$	119,446		$	104,881
Adjusted return on average assets	1.25		%	1.28		%	1.27		%	1.15		%	1.05		%	1.27		%	1.10		%
Adjusted return on average common equity	10.5		%	10.8		%	11.0		%	10.4		%	9.44		%	10.7		%	10.2		%













Adjusted pre-tax pre-provision net income	$	53,762		$	52,369		$	51,180		$	45,390		$	44,869		$	157,311		$	135,562
Adjusted pre-tax pre-provision return on average assets	1.68		%	1.70		%	1.63		%	1.45		%	1.42		%	1.67		%	1.42		%


			Page

Financial Summary and Key Metrics			4

Consolidated Statements of Income			5

Consolidated Balance Sheets			7

Average Balance and Interest Yield/Rate Analysis			8



Investments and Other Sources of Liquidity			11

Loan Portfolio			12

Asset Quality			13

Selected Deposit Data			14

Preliminary Capital Ratios			15

Segment Data			16

Non-GAAP Reconciliations			17