Financial Data and Key Metrics Changes - The company reported record adjusted net income of $37 million, or $2.21 per diluted share for Q4 2025, and $130 million, or $7.64 per diluted share for the full year [17] - Net interest income increased by $4 million, or 22% annualized in Q4, and $23 million, or 10% for the year, driven by margin expansion [17][18] - The net interest margin (NIM) increased by 6 basis points from the previous quarter, supported by a 14% increase in average earning assets [18] Business Line Data and Key Metrics Changes - The wealth management business added nearly 500 new client relationships, bringing in over $1 billion in new assets under management, with a 5-year compound annual growth rate of 10% for both assets and revenue [8] - The LIHTC lending platform performed exceptionally well, with significant demand for affordable housing and the addition of 18 new developer partners [9][10] Market Data and Key Metrics Changes - Total loans grew by $304 million, or 17% annualized in Q4, with traditional loan portfolio growth of $92 million, or 8% annualized [24] - Core deposits increased by $64 million, or 4% annualized in Q4, with average deposit balances rising by $237 million, or 13% annualized compared to Q3 [25] Company Strategy and Development Direction - The company aims to advance its digital transformation, expand its wealth management business, and continue growing its LIHTC lending platform [16] - The multi-charter model allows the company to outperform competitors and gain market share, with a focus on enhancing service capabilities and client experience through technology upgrades [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong financial performance, supported by a positive NIM outlook and solid loan and deposit pipelines [16] - The company anticipates continued growth in net interest income and capital markets revenue, with guidance for capital markets revenue set at $55 million-$70 million over the next four quarters [10][21] Other Important Information - The company executed share repurchases totaling approximately $13 million in Q4, returning nearly $22 million to shareholders for the full year [27] - The effective tax rate for Q4 was 8%, down from 10% in the prior quarter, reflecting a favorable mix of tax-exempt income [29] Q&A Session Summary Question: Guidance on capital markets revenues and seasonality - Management noted that Q1 is historically the slowest quarter for capital markets revenue, with expectations set accordingly [34][36] Question: Update on securitization plans - The company expects to securitize approximately $300 million-$350 million in loans before June 30, 2026 [37] Question: Guidance for earning assets in Q1 - Earning assets are expected to be consistent with the end of Q4, with robust loan growth anticipated throughout the year [44][45] Question: Deposit gathering expectations - The company is focused on improving core deposit growth and enhancing the deposit mix, with strategies in place to attract new retail checking accounts and private banking clients [55][56] Question: Impact of recent M&A activity on market share - Management is actively targeting clients from a competitor's recent acquisition, expecting to gain market share in the Cedar Rapids area [60]