Financial Performance - Net income reached $140.9 million, translating to $2.22 per diluted share[11, 13] - Net interest margin expanded by 11 basis points to 2.91%, while core net interest margin, excluding trading, increased by 4 basis points to 3.16%[13, 36] - Pre-provision net revenue was $178.6 million[11] Loan and Deposit Growth - Period-end loans grew by $573 million, a 2.4% increase, reaching $24.9 billion, driven by growth in core C&I portfolio, commercial real estate, and loans to individuals[13, 14] - Average deposits increased by $345 million in Q3, primarily due to interest-bearing transaction and time deposit balances[15] - Assets under management or administration increased by $4.8 billion to $122.7 billion, driven by higher market valuations and new business growth[15] Asset Quality and Credit Metrics - Non-performing assets, excluding loans guaranteed by U S government agencies, totaled $67 million, representing 0.27% of outstanding loans and repossessed assets[13, 25] - Net charge-offs were $3.6 million during Q3[13, 25] - The combined allowance for credit losses was $328 million, or 1.32% at quarter end[25] Fee Income and Revenue - Investment banking revenue grew by $5.0 million, reflecting strong municipal bond underwriting activity[28] - Trading fee income increased by $1.1 million due to increased municipal bond trading and a more stable market environment[27] - Total fees and commissions reached $204.4 million, a $7.1 million increase, or 3.6%[32] Expenses and Efficiency - Total operating expenses increased by $15.3 million to $369.8 million, a 4.3% increase[43] - Personnel expenses increased by $11.6 million, a 5.4% increase[43] - The efficiency ratio was 66.7%[11, 43] Outlook - The company anticipates end-of-period loan growth of 5%-7% for the full year 2025, with 2024 actuals being $24.1 billion[46] - Net interest income is projected to be between $1.325 billion and $1.35 billion for FY25, compared to $1.2 billion in 2024[46]

Financial Performance - Net income for Q2 2025 was $140 million, or $2.19 per diluted share[11], compared to $119.8 million, or $1.86 per diluted share in Q1 2025[11, 14] - Net interest income increased by $11.9 million sequentially to $328.2 million[37, 39] - Total fees and commissions were $197.3 million, a 7.2% decrease year-over-year[34] - The efficiency ratio was 65.4% in Q2 2025, compared to 68.3% in Q1 2025[11] Balance Sheet - Period end loans grew by $602 million, or 2.5%, to $24.3 billion[14, 15] - Period end deposits decreased slightly by 0.1% to $38.2 billion[15] - Assets under management or administration increased by $3.9 billion to $117.9 billion[16] Asset Quality - Non-performing assets, excluding government guaranteed loans, were $74 million, representing 0.31% of outstanding loans and repossessed assets[14, 27] - Net charge-offs were $561 thousand during Q2[14, 27] - The allowance for credit losses was $330 million, or 1.36% of loans at quarter end[27] Outlook - The company expects mid to upper single-digit loan growth for the full year 2025[47] - Net interest income is projected to be between $1.325 billion and $1.375 billion for 2025, assuming two 25 basis point rate cuts[47]