Core Insights - The bank successfully integrated the Enterprise acquisition in 2025, retaining nearly 100% of client-facing personnel and experiencing negligible customer loss, with strong loan production and pipeline maintained throughout the integration period [1][4][7] Financial Performance - For Q4 2025, the bank reported GAAP net income of $75.3 million and diluted EPS of $1.52, with an adjusted operating net income of $84.4 million or $1.70 diluted EPS, reflecting a 1.20% return on assets and 8.38% return on average common equity [3][6] - Net interest income increased by $9.1 million to $212.5 million, with a reported net interest margin (NIM) rising to 3.77% [12] Loan and Deposit Growth - The bank achieved approximately 9% organic growth in commercial and industrial (C&I) loans, which now represent 25% of total loans, while commercial real estate (CRE) balances decreased by 3.6% [8][9] - Average core deposits grew by 3.6% annualized, despite a 0.8% decline in period-end deposit balances attributed to seasonal factors [11] Expense Management and Capital Strategy - The bank's operating expenses for Q4 were $142 million, up 3.7% from the previous quarter, influenced by one-time items [16] - The bank repurchased approximately 548,000 shares for $37.5 million, with plans for continued prudent buybacks and a tangible book value increase to $47.55 at year-end [19] 2026 Outlook - Management set targets for 2026, including a 1.4% return on average assets and a 15% return on average tangible capital, with expectations for mid-single-digit growth in C&I loans and low single-digit growth in combined CRE and construction [18][23] - The bank anticipates NIM to reach 3.85%–3.90% by Q4 2026, assuming two Federal Reserve rate cuts [23]