ADDED
Proxy Statement for the 2026 Annual Meeting of Stockholders of the Registrant (Part III).
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 145 9A.
Government, tariffs, changes in accounting policies and practices that may be adopted by the regulatory agencies and the accounting standards setters, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, potential goodwill impairment, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.
During 2025, the Company paid cash dividends totaling $125.9 million and repurchased 158,293 shares of its common stock at an average cost of $18.07 per share, which totaled $2.9 million, all of which were made in connection with withholding to cover income taxes on the vesting of stock-based compensation.
As of December 31, 2025, approximately 814,000 shares remained eligible for repurchase under the board-approved stock repurchase program.
On January 26, 2026, the Company s Board of Directors authorized the Company s tenth stock repurchase program to commence upon completion of the existing authorization.
Under the new authorization, the Company may repurchase an additional 2.0 million shares of common stock currently outstanding.
As of December 31, 2025, non-performing assets were $80.4 million or 0.32% of total assets, compared to $81.5 million or 0.34% of total assets as of December 31, 2024.
The Bank continues to focus on conservative underwriting criteria, pro-active monitoring and on active and timely collection efforts.
Core deposit accounts totaled $15.99 billion as of December 31, 2025, representing 82.9% of total deposits, compared with $15.46 billion, or 83.0% of total deposits as of December 31, 2024.
REMOVED
Proxy Statement for the 2025 Annual Meeting of Stockholders of the Registrant (Part III).
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 144 9A.
During 2024, the Company paid cash dividends totaling $101.0 million and repurchased 89,569 shares of its common stock at an average cost of $14.90 per share, which totaled $1.3 million, all of which were made in connection with withholding to cover income taxes on the vesting of stock-based compensation.
As of December 31, 2024, 3.1 million shares remained eligible for repurchase under the board-approved stock repurchase program.
As of December 31, 2024, non-performing assets were $81.5 million or 0.34% of total assets, compared to $61.3 million or 0.43% of total assets as of December 31, 2023.
The Bank continues to focus on conservative underwriting criteria and on active and timely collection efforts.
Core deposit accounts totaled $15.46 billion as of December 31, 2024, representing 83.0% of total deposits, compared with $9.20 billion, or 89.4% of total deposits as of December 31, 2023.
In addition to traditional depository and lending fees, the Bank generates non-interest 2 income from investment, insurance, wealth and asset management services it offers to generate non-interest income.
Total non-interest income was $94.1 million for the year ended December 31, 2024, compared with $79.8 million for the year ended December 31, 2023, of which wealth management income, fee income and insurance agency income were $30.5 million, $34.1 million and $16.2 million, respectively, for the year ended December 31, 2024, compared with $27.7 million, $24.4 million and $13.9 million, respectively, for the year ended December 31, 2023.
As of December 31, 2024, 57.73% of the Bank s loan portfolio had a term to maturity of one year or less, or had adjustable interest rates.