v3.25.4
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Non-interest income      
Asset management $ 39,236 $ 36,329 $ 32,468
Banking 67,366 63,682 58,818
Foreign exchange revenue 52,545 51,248 46,132
Trust 65,818 61,329 57,768
Custody and other administration services 13,846 13,815 13,319
Other non-interest income 4,096 3,612 3,831
Total non-interest income 242,907 230,015 212,336
Interest income      
Interest and fees on loans 277,363 304,112 317,361
Investments (none of the investment securities are intrinsically tax-exempt)      
Available-for-sale 77,850 48,892 35,589
Held-to-maturity 70,720 75,638 80,533
Cash and cash equivalents, securities purchased under agreements to resell and short-term investments 131,177 157,075 112,147
Total interest income 557,110 585,717 545,630
Interest expense      
Deposits 189,127 227,001 170,504
Long-term debt 3,681 5,485 8,091
Securities sold under agreements to repurchase 220 2,028 75
Total interest expense 193,028 234,514 178,670
Net interest income before provision for credit losses 364,082 351,203 366,960
Provision for credit (losses) recoveries (217) (1,662) (4,452)
Net interest income after provision for credit losses 363,865 349,541 362,508
Net gains (losses) on equity securities 0 0 43
Net realized gains (losses) on available-for-sale investments 0 0 (14)
Net gains (losses) on other real estate owned 0 50 (40)
Net other gains (losses) 20 327 3,764
Total other gains (losses) 20 377 3,753
Total net revenue 606,792 579,933 578,597
Non-interest expense      
Salaries and other employee benefits 182,635 174,024 177,939
Technology and communications 65,002 66,057 61,979
Professional and outside services 21,904 22,694 21,056
Property 34,134 34,081 31,374
Indirect taxes 23,289 22,672 21,457
Non-service employee benefits expense 5,550 3,929 5,590
Marketing 6,803 6,530 6,456
Amortization of intangible assets 8,002 8,006 5,728
Other expenses 21,507 21,093 20,759
Total non-interest expense 368,826 359,086 352,338
Net income before income taxes 237,966 220,847 226,259
Income tax benefit (expense) (6,024) (4,531) (767)
Net income $ 231,942 $ 216,316 $ 225,492
Earnings per common share      
Basic earnings per share (in dollars per share) $ 5.61 $ 4.80 $ 4.62
Diluted earnings per share (in dollars per share) $ 5.47 $ 4.71 $ 4.58