Fourth Quarter 2025 Financial Highlights
-- GAAP net income of $107.6 million, or $0.47 per fully diluted share,
compared to $97.1 million and $0.44 in the prior quarter
-- GAAP net interest margin 1 ("NIM") of 4.38%, quarterly increase of 2
basis points
-- End-of-period total loans held for investment of $11.4 billion, quarterly
increase of $0.1 billion, or 1.0% growth from the prior quarter
-- Return on average assets ("ROAA") of 2.17%, compared to 2.02% in the
prior quarter
-- Efficiency ratio 2 of 47.6%, compared to 49.6% in the prior quarter
Full-Year 2025 Financial Highlights:
-- GAAP net income of $390.9 million, or $1.75 per fully diluted share,
compared to $305.8 million and $1.39 in the prior year
-- Adjusted net income 2 of $402.6 million, or $1.81 per fully diluted share,
compared to $333.7 million and $1.51 per fully diluted share in the prior
year
-- End-of-period total deposits of $15.9 billion, an increase of
approximately $0.9 billion or 5.9% growth from the prior year
-- ROAA of 2.03%; Adjusted ROAA 2 of 2.09%, compared to ROAA of 1.63% and
Adjusted ROAA 2 of 1.78% in the prior year
-- Efficiency ratio 2 of 49.5%; Adjusted efficiency ratio 2 of 47.9%,
compared to 54.5% and 51.7% respectively in the prior year
JEFFERSON CITY, Mo., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Central Bancompany, Inc. (Nasdaq: CBC) ("Central Bancompany", "the Company", or "CBC"), the bank holding company for The Central Trust Bank (the "Bank"), today announced preliminary financial results for the fourth quarter and full year 2025.
John "JR" Ross, President and Chief Executive Officer of Central Bancompany, commented "We are pleased to announce record profitability in 2025, as our employees continued to deliver for our customers, our communities and our shareholders. Our retail net promoter score rose to 74 and our wealth net promoter score to 83, reflecting the quality of the service we deliver to our customers. Our employees spent over 28 thousand hours volunteering in the communities we serve. The drivers of our financial performance were broad-based, reflecting efforts across our organizations and in all our markets. I want to thank our teammates for their outstanding efforts in delivering these outcomes."
"We have a lot to accomplish in 2026, including delivering on the expectations set by our shareholders on the heels of a successful 2025," Ross continued. "As we look to 2026, we remain focused on prudently growing the business, continuing our technology build out, and thoughtfully deploying our excess capital. We feel ready to meet those challenges and will continue to dedicate ourselves to our customers, communities and shareholders."
Net Interest Income and Net Interest Margin (1)
The Company reported net interest income of $206.5 million in the fourth quarter of 2025, reflecting a GAAP net interest margin of 4.38% (4.41% on an FTE basis (1) (,) (2) ). Earning assets averaged $18.7 billion during the quarter. The increase of $7.6 million in net interest income from the third quarter 2025 reflected the investment of $403.1 million of net IPO proceeds and a 2 basis point increase in net interest margin from last quarter.
Average earning assets for the quarter totaled $18.7 billion, an increase of $0.6 billion, or 3.4% from the prior quarter's average earning assets, driven by $0.5 billion of higher short-term earning assets primarily resulting from the net IPO proceeds. Earning assets ended the quarter at $19.7 billion, $1.0 billion higher than the average during the quarter as we saw seasonally driven deposit growth the end of the year and loan growth across several loan categories.
The increase in FTE net interest margin to 4.41% from 4.39% reflects an FTE loan yield of 6.27% this quarter, relatively flat from the prior quarter despite a full quarter of the September rate cut and two further rate cuts during the quarter. The cost of deposits fell 5 basis points to 1.14% for the fourth quarter 2025.
For the full year of 2025, net interest income was $789.7 million, an increase of $102.3 million from the prior year. Earning assets averaged $18.4 billion in 2025, an increase of $0.5 billion from 2024, driven by higher investment securities. Average deposits grew $0.2 billion, or 1.2%, while average loans declined slightly by $0.1 billion, or 1.1%. Full year net interest margin was 4.30% for 2025, up 46 basis points from the 3.84% net interest margin in 2024.
Total loans held for investment were $11.4 billion at December 31, 2025, an increase of $0.1 billion or 1.0% from September 30, 2025. Loan growth in the quarter was driven by increases in construction and development, commercial, financial & agricultural, residential mortgage and home equity lines of credit partially offset by declines in commercial real estate and other consumer loans.
Total deposits were $15.9 billion at December 31, 2025, an increase of approximately $1.1 billion or 7.3% from September 30, 2025. The increase from the prior quarter was largely due to seasonality, as our public funds customers typically see significant inflows at the end of the year. Average non-public fund deposits increased by 1.7%. On a year-over-year basis, total deposits were up approximately $0.9 billion, or 5.9%. Noninterest-bearing demand deposits increased by $0.4 billion and savings and interest-bearing demand deposits grew by $0.6 billion, $0.3 billion of which are increases in public funds. Time deposits decreased slightly. Seven of our eleven primary markets grew deposits in 2025.
(__________________________________________1) All references to net interest income and net interest margin are presented on a fully-tax equivalent basis unless otherwise noted.
(2) This is a non-GAAP financial measure management believes is helpful to understanding trends in our business that may not be fully apparent based only on the most comparable GAAP financial measure. Further information on this financial measure and a reconciliation to the most comparable GAAP financial measure is provided at the end of this release.
Provision for credit losses
The provision for credit losses was $3.0 million for the fourth quarter 2025, relatively flat to the prior quarter. The allowance for credit losses at the end of the quarter was $149.7 million, which was 1.31% of loans held for investment. The allowance for credit losses was $149.5 million (1.32% of loans held for investment) at the end of the prior quarter.
For the full year 2025, the provision for credit losses was $9.3 million, down $5.3 million from the prior year. The provision for 2025 included a $5.0 million release of allowance associated with the decision in Q2 of 2025 to sell the consumer leasing portfolio.
Noninterest income
Noninterest income was $65.8 million for the fourth quarter of 2025, higher by $8.7 million from the prior quarter. The prior quarter included $6.9 million of losses from the sales of investment securities, as we accelerated the reinvestment of nearer-term maturities in the securities portfolio to reduce our asset sensitivity to rates in the 2 to 5-year section of the yield curve. Excluding these losses in the prior quarter, current quarter noninterest income was $1.8 million higher than the prior quarter's adjusted noninterest income(2) . The increase was driven by our Wealth Management segment where both brokerage services and fees for fiduciary services increased by $0.4 million and $1.2 million, respectively. Fees for fiduciary services benefited from strong investment inflows and investment performance. Assets under advice grew approximately 3.5% from the prior quarter to $16.0 billion as of December 31, 2025. The fee income ratio for the quarter was 24.2%, relatively flat to the adjusted fee income ratio (2) in the prior quarter, despite the higher levels of net interest income, reflecting that fee income continued to keep pace with growth in net interest income.
For the year, noninterest income was $231.7 million, up $21.3 million from the prior year. Net losses from the sales of investment securities in both years and the loss from the expected sale of the consumer leasing portfolio in Q2 of 2025 affected comparability between both periods. Adjusting for both items, adjusted noninterest income (2) was $252.1 million in 2025, an increase of $5.1 million from the prior year. The higher level of noninterest income in 2025 reflects an increase in fees for fiduciary services of $6.1 million and an increase of $3.0 million in brokerage services, offset partially by a decline in mortgage banking revenues of $2.5 million and a gain on the sale of equipment totaling $3.6 million, included in the prior year's other noninterest income which did not recur. The adjusted fee income ratio(2) for 2025 was 24.2%, down from the adjusted fee income ratio(2) for 2024 of 26.4%.
Noninterest expense
Noninterest expense for the fourth quarter 2025 was $129.5 million, a $2.6 million increase from the third quarter 2025. Salaries and benefits expense increased $1.5 million from the prior quarter due to higher incentives as a result of year-end performance and other expenses were higher by $1.9 million, spread across a number of categories. Our efficiency ratio (FTE) (2) of 47.0% improved from the 47.7% efficiency ratio (FTE) of the prior quarter.
For the full year 2025, noninterest expense was $505.5 million, an increase of $16.1 million, or 3.3%. Higher salaries and benefits of $17.0 million drove this change. A decrease in legal and professional fees of $3.9 million partially offset this increase, due to anticipated progression in our core modernization project. Our efficiency ratio (FTE)(2) of 47.9% for 2025 improved from the 51.7% efficiency ratio (FTE) of the prior year.
Provision for income taxes
The fourth quarter 2025 provision for income taxes was $32.1 million, $3.6 million higher than the prior quarter. The effective tax rate for the fourth quarter 2025 was 23.0% compared to 22.7% in the prior quarter. The current quarter reflected a 40 bps impact of certain costs that are no longer deductible as a result of being a public company.
For the full year 2025, the provision for income taxes was $115.7 million, up $27.8 million from the prior year, driven by higher levels of pre-tax income. The effective tax rate for the current year was 22.8%, which was up from 22.3% in the prior year due primarily to a reduction year over year in the amount of state tax credits received from tax credit partnerships.
Asset quality
Asset quality remained strong. Nonperforming loans at December 31, 2025 were $46.0 million, or 40 bps of loans held for investment, down from 45 bps at the end of the prior quarter. Net charge-offs were $2.8 million for the quarter, 10 bps (annualized) of average total loans. Our allowance for credit losses of $149.7 million represented 131 bps of loans held for investment.
Compared to the prior year end, nonperforming loans at December 31, 2025 were up $6.5 million and the allowance was down 2 basis points as a percent of loans held for investment from the prior year.
Delinquent loans at December 31, 2025 were $36.4 million, or 32 bps of loans held for investment, as compared to 21 bps at the end of the prior quarter and 55 bps at the end of the prior year. Delinquency levels at December 31, 2025 remain aligned with historical, pre-COVID seasonal patterns. Delinquency increased on a linked quarter basis at the end of the fourth quarter, driven by increases in consumer installment and consumer credit card delinquency.
Capital
Capital levels at December 31, 2025 remained very strong. Our CET1 ratio was 28.1% and represented $1.8 billion of excess capital when compared to our long-term CET1 target of 13.5%. The Bank's CET1 ratio was 12.9% at December 31, 2025. The difference in the consolidated capital ratio and the capital ratio at the Bank represents earnings that have already been upstreamed to the holding company.
Compared to the prior year end, our CET1 increased 443 bps, the result of the net IPO proceeds and earnings retention.
Our book value per share at December 31, 2025 was $15.69 per share, whereas our tangible book value was $14.24 per share.
Conference Call and Webcast Information
The Company will host a conference call and webcast at 9:00 a.m. CT on Tuesday, January 27, 2026. The call may include discussion of Company developments, forward-looking statements and other material information about business and financial matters. This press release and a related slide presentation will be accessible on the Company's investor relations website https://investor.centralbank.net. The call can be accessed via this same website or by using the following link: https://edge.media-server.com/mmc/p/wujracdi. A recorded replay of the conference call will be available on the website after the call's completion.
About Central Bancompany, Inc.
Central Bancompany, Inc. is headquartered in Jefferson City, Missouri. Its banking subsidiary, The Central Trust Bank, has been serving businesses and customers since 1902. The bank is built on a strong foundation of people, community service, and technology. As of December 31, 2025, The Central Trust Bank is a $20.8 billion Missouri state-chartered trust company with banking powers and a Federal Reserve state member bank, serving consumers and businesses in Missouri, Kansas, Oklahoma, Colorado, and Florida. Divisions of The Central Trust Bank include Central Trust Company and Central Investment Advisors.
Non-GAAP Financial Information
In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States ("GAAP") and should not be viewed in isolation from, or as a substitute for, GAAP results. The differences between the non-GAAP financial measures and the nearest comparable GAAP financial measures are reconciled later in this release. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of, and intended to be covered by, the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other variations or comparable terminology and expressions. All statements other than statements of historical facts contained in this press release are forward-looking statements. We have based the forward-looking statements contained herein on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled "Risk Factors" in our S-1/A Registration Statement. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements. The forward-looking statements relate only to events as of the date on which the statements are made. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions which are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what is expected, implied or forecasted in such forward-looking statements. These forward-looking statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. We undertake no obligation to update any forward-looking statements made in this prospectus to reflect events or circumstances after the date of this prospectus or to reflect new information or the occurrence of unanticipated events, except as required by law.
Media Contact:
Dan Westhues
EVP, Chief Customer Officer
Central Bancompany, Inc.
dan.westhues@centralbank.net
(573) 634-1281
Investor Relations Contact:
Charlie Martin
Corporate Development Officer
Central Bancompany, Inc.
charlie.martin@centralbank.net
(314) 686-7007
Current quarter, prior quarter and prior year quarter information is provided on pages 5-8 below.
Central Bancompany, Inc. and Subsidiaries
Quarterly Consolidated Balance Sheets(unaudited)
Q4 Q3 Q4 Q vs PQ Q vs PYQ
FY25 FY25 FY24 $VAR %VAR $VAR %VAR
------------ ------------ ------------ ----------- -------- ----------- --------
(dollars in thousands, except per common share data)
Assets
Cash and due from banks $ 258,588 $ 217,621 $ 265,209 $ 40,967 18.8 % $ (6,621) (2.5) %
Short-term earning
assets 1,806,594 812,449 977,298 994,145 122.4 % 829,296 84.9 %
Investment securities 6,422,352 6,017,738 5,656,384 404,614 6.7 % 765,968 13.5 %
Loans held for
investment:
Construction and
development 570,749 534,852 552,676 35,897 6.7 % 18,073 3.3 %
Commercial, financial
& agricultural 1,761,287 1,736,276 1,874,906 25,011 1.4 % (113,619) (6.1) %
Non-owner-occupied
commercial real
estate(1) 3,150,269 3,156,493 3,197,765 (6,224) (0.2) % (47,496) (1.5) %
Owner-occupied
commercial real
estate 1,580,260 1,583,150 1,572,955 (2,890) (0.2) % 7,305 0.5 %
---------- ---------- ---------- --------- -------- --------- --------
Commercial real
estate 4,730,529 4,739,643 4,770,720 (9,114) (0.2) % (40,191) (0.8) %
---------- ---------- ---------- --------- -------- --------- --------
Total commercial
loans 7,062,565 7,010,771 7,198,302 51,794 0.7 % (135,737) (1.9) %
Residential mortgage
loans(2) 3,321,101 3,250,731 3,105,760 70,370 2.2 % 215,341 6.9 %
Home equity lines of
credit 410,845 390,777 349,011 20,068 5.1 % 61,834 17.7 %
Consumer credit card 98,310 92,881 93,825 5,429 5.8 % 4,485 4.8 %
Other consumer loans 551,395 588,192 903,452 (36,797) (6.3) % (352,057) (39.0) %
---------- ---------- ---------- --------- -------- --------- --------
Total residential
and consumer
loans 4,381,651 4,322,581 4,452,048 59,070 1.4 % (70,397) (1.6) %
---------- ---------- ---------- --------- -------- --------- --------
Total unpaid
principal balance 11,444,216 11,333,352 11,650,350 110,864 1.0 % (206,134) (1.8) %
Add: Unearned
income (9,611) (10,034) (26,259) 423 (4.2) % 16,648 (63.4) %
---------- ---------- ---------- --------- -------- --------- --------
Loans held for
investment 11,434,605 11,323,318 11,624,091 111,287 1.0 % (189,486) (1.6) %
Less: Allowance for
credit losses (149,674) (149,459) (154,279) (215) 0.1 % 4,605 (3.0) %
---------- ---------- ---------- --------- -------- --------- --------
Net loans 11,284,931 11,173,859 11,469,812 111,072 1.0 % (184,881) (1.6) %
Loans held for sale 54,119 21,830 34,264 32,289 147.9 % 19,855 57.9 %
Land, buildings, and
equipment, net 215,931 214,550 215,316 1,381 0.6 % 615 0.3 %
Goodwill and
intangibles 351,664 352,470 354,890 (806) (0.2) % (3,226) (0.9) %
Other assets 357,799 373,088 269,370 (15,289) (4.1) % 88,429 32.8 %
---------- ---------- ---------- --------- -------- --------- --------
Total assets $20,751,978 $19,183,605 $19,242,543 $1,568,373 8.2 % $1,509,435 7.8 %
========== ========== ========== ========= ======== ========= ========
Liabilities and
Stockholders' Equity
Deposits:
Noninterest-bearing
demand $ 5,615,652 $ 5,317,961 $ 5,245,705 $ 297,691 5.6 % $ 369,947 7.1 %
Savings and
interest-bearing
demand 8,611,895 7,767,084 8,043,244 844,811 10.9 % 568,651 7.1 %
Time 1,635,078 1,704,182 1,696,899 (69,104) (4.1) % (61,821) (3.6) %
---------- ---------- ---------- --------- -------- --------- --------
Total deposits 15,862,625 14,789,227 14,985,848 1,073,398 7.3 % 876,777 5.9 %
Federal funds purchased
and customer
repurchase agreements 1,011,851 958,766 1,007,295 53,085 5.5 % 4,556 0.5 %
---------- ---------- ---------- --------- -------- --------- --------
Total customer
funds 16,874,476 15,747,993 15,993,143 1,126,483 7.2 % 881,333 5.5 %
Other liabilities 93,525 151,198 138,739 (57,673) (38.1) % (45,214) (32.6) %
---------- ---------- ---------- --------- -------- --------- --------
Total liabilities 16,968,001 15,899,191 16,131,882 1,068,810 6.7 % 836,119 5.2 %
---------- ---------- ---------- --------- -------- --------- --------
Stockholders' equity:
Common equity 3,900,011 3,422,555 3,349,966 477,456 14.0 % 550,045 16.4 %
Accumulated other
comprehensive
(loss) (16,872) (38,983) (139,925) 22,111 (56.7) % 123,053 (87.9) %
Less: Treasury stock (99,162) (99,158) (99,380) (4) - % 218 (0.2) %
---------- ---------- ---------- --------- -------- --------- --------
Total
stockholders'
equity 3,783,977 3,284,414 3,110,661 499,563 15.2 % 673,316 21.6 %
---------- ---------- ---------- --------- -------- --------- --------
Total liabilities
and
stockholders'
equity $20,751,978 $19,183,605 $19,242,543 $1,568,373 8.2 % $1,509,435 7.8 %
========== ========== ========== ========= ======== ========= ========
(1) Non-owner occupied commercial real estate loans
updated presentation to include multi-family loans
(2) Residential mortgage loans updated presentation
to include residential construction and development
Central Bancompany, Inc. and
Subsidiaries
Quarterly Consolidated Statements of
Income(unaudited)
Q4 Q3 Q4 Q vs PQ Q vs PYQ
FY25 FY25 FY24 $VAR %VAR $VAR %VAR
-------- --------- --------- -------- ----------- -------- -----------
(dollars in thousands, except per common share data)
Interest income:
Loans $178,961 $179,351 $179,835 $ (390) (0.2)% $ (874) (0.5)%
Investment
securities 64,582 62,343 45,132 2,239 3.6% 19,450 43.1%
Short-term
earning assets 11,741 7,081 7,730 4,660 65.8% 4,011 51.9%
------- ------- ------- ------ ------- ------ -------
Total
interest
income 255,284 248,775 232,697 6,509 2.6% 22,587 9.7%
Interest expense:
Deposits 43,133 44,066 43,813 (933) (2.1)% (680) (1.6)%
Federal funds
purchased and
customer
repurchase
agreements 5,688 5,837 6,474 (149) (2.6)% (786) (12.1)%
Total
interest
expense 48,821 49,903 50,287 (1,082) (2.2)% (1,466) (2.9)%
------- ------- ------- ------ ------- ------ -------
Net interest
income 206,463 198,872 182,410 7,591 3.8% 24,053 13.2%
------- ------- ------- ------ ------- ------ -------
Provision for
credit losses 3,016 3,382 2,618 (366) (10.8)% 398 15.2%
Noninterest
income:
Service charges
and
commissions 14,553 14,955 14,296 (402) (2.7)% 257 1.8%
Payment services
revenue 17,063 17,111 17,063 (48) (0.3)% - --%
Brokerage
services 7,701 7,266 6,629 435 6.0% 1,072 16.2%
Fees for
fiduciary
services 14,214 12,973 12,300 1,241 9.6% 1,914 15.6%
Mortgage banking
revenues, net 9,408 10,297 10,366 (889) (8.6)% (958) (9.2)%
Investment
securities
(losses), net - (6,920) (39,257) 6,920 (100.0)% 39,257 (100.0)%
Other income 2,832 1,388 2,648 1,444 104.0% 184 6.9%
------- ------- ------- ------ ------- ------ -------
Total
noninterest
income 65,771 57,070 24,045 8,701 15.2% 41,726 173.5%
Less: Investment
securities
(losses), net - (6,920) (39,257) 6,920 (100.0)% 39,257 (100.0)%
Total
adjusted
noninterest
income(1) 65,771 63,990 63,302 1,781 2.8% 2,469 3.9%
------- ------- ------- ------ ------- ------ -------
Noninterest
expenses:
Salaries and
employee
benefits 76,799 75,298 70,938 1,501 2.0% 5,861 8.3%
Net occupancy
and equipment 12,731 12,748 11,999 (17) (0.1)% 732 6.1%
Computer
software and
maintenance 5,241 6,032 4,800 (791) (13.1)% 441 9.2%
Marketing and
business
development 5,476 4,818 5,372 658 13.7% 104 1.9%
Legal and
professional
fees 5,923 6,125 8,505 (202) (3.3)% (2,582) (30.4)%
Bankcard
processing,
rewards and
related cost 7,595 8,040 6,254 (445) (5.5)% 1,341 21.4%
Other expenses 15,749 13,884 17,005 1,865 13.4% (1,256) (7.4)%
------- ------- ------- ------ ------- ------ -------
Total
noninterest
expenses 129,514 126,945 124,873 2,569 2.0% 4,641 3.7%
------- ------- ------- ------ ------- ------ -------
Income before
income taxes 139,704 125,615 78,964 14,089 11.2% 60,740 76.9%
------- ------- ------- ------ ------- ------ -------
Income taxes 32,113 28,516 17,079 3,597 12.6% 15,034 88.0%
------- ------- ------- ------ ------- ------ -------
Net income $107,591 $ 97,099 $ 61,885 $10,492 10.8% $45,706 73.9%
======= ======= ======= ====== ======= ====== =======
Less: Investment
securities
(losses), net
of taxes - (5,270) (29,898) 5,270 (100.0)% 29,898 (100.0)%
Adjusted net
income(1) $107,591 $102,369 $ 91,783 $ 5,222 5.1% $15,808 17.2%
======= ======= ======= ====== ======= ====== =======
End of period
shares 241,106 220,665 220,385 20,441 9.3% 20,721 9.4%
Weighted average
fully diluted
shares 229,267 220,059 220,234 9,208 4.2% 9,033 4.1%
Net income per
common share -
diluted $ 0.47 $ 0.44 $ 0.28 $ 0.03 6.3% $ 0.19 67.0%
Adjusted net
income(1) per
common share -
diluted $ 0.47 $ 0.47 $ 0.42 $ - 0.8% $ 0.05 12.6%
Dividends /
share $ 0.155 $ 0.055 $ 0.125 $ 0.100 181.8% $ 0.030 24.0%
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Quarterly Summary of Financial
Results(unaudited)
Q4 Q3 Q4 Q vs PQ Q vs PYQ
FY25 FY25 FY24 $VAR %VAR $VAR %VAR
------------ ------------ ------------ ----------- ---------- ----------- ----------
(dollars in thousands, except per common share data
and other information)
Financial Ratios
(GAAP)
-------------------
Net interest
margin 4.38% 4.36% 4.05% 0.02% 0.42% 0.33% 8.05%
Return on average
total assets 2.17% 2.02% 1.31% 0.15% 7.53% 0.86% 65.58%
Return on average
common equity 12.1% 11.9% 8.0% 0.2% 1.8% 4.1% 52.0%
Fee income ratio 24.2% 22.3% 11.6% 1.9% 8.3% 12.5% 107.4%
Efficiency ratio 47.6% 49.6% 60.5% (2.0)% (4.1)% (12.9)% (21.3)%
Effective tax
rate 23.0% 22.7% 21.6% 0.3% 1.3% 1.4% 6.3%
Financial Ratios
(Non-GAAP(1) )
-------------------
Net interest
margin (FTE)(2,
3) 4.41% 4.39% 4.08% 0.02% 0.50% 0.33% 8.11%
Adjusted return
on average total
assets(2) 2.17% 2.13% 1.94% 0.04% 1.99% 0.23% 11.64%
Adjusted return
on average
common
equity(2) 12.1% 11.9% 8.0% 0.2% 1.8% 4.1% 52.0%
Return on average
tangible common
equity(2) 13.5% 13.4% 9.1% 0.1% 0.8% 4.4% 48.8%
Adjusted return
on average
tangible common
equity 13.5% 14.2% 13.4% (0.6)% (4.4)% 0.1% 0.7%
Adjusted fee
income ratio 24.2% 24.3% 25.8% (0.2)% (0.8)% (1.6)% (6.2)%
Efficiency ratio
(FTE)(2,3) 47.0% 47.7% 50.2% (0.7)% (1.5)% (3.2)% (6.4)%
Net Interest Margin
& Yields
-------------------
Interest-earning
cash yield(3) 4.11% 4.64% 4.97% (0.53)% (11.5)% (0.87)% (17.4)%
Investment
securities
yield(3) 4.19% 4.09% 3.20% 0.10% 2.4% 0.99% 30.8%
Loan yield(3) 6.27% 6.28% 6.19% (0.01)% (0.2)% 0.09% 1.4%
Cost of deposits 1.14% 1.19% 1.20% (0.05)% (3.9)% (0.06)% (5.0)%
Cost of funds 1.21% 1.26% 1.29% (0.05)% (4.1)% (0.08)% (6.1)%
Loan to deposit
ratio 72.4% 76.7% 77.8% (4.3)% (5.6)% (5.4)% (6.9)%
Interest-free
funds ratio 43.1% 42.2% 42.3% 0.9% 2.2% 0.8% 1.9%
Interest-earning
asset yield(3) 5.45% 5.49% 5.20% (0.04)% (0.7)% 0.25% 4.8%
Cost of total
interest-bearing
liabilities 1.82% 1.89% 1.94% (0.07)% (3.8)% (0.12)% (6.0)%
Net interest
spread 3.63% 3.59% 3.26% 0.04% 1.0% 0.37% 11.2%
Benefit of
interest-free
funds 0.79% 0.80% 0.82% (0.01)% (1.8)% (0.04)% (4.3)%
Net interest
margin (FTE) 4.41% 4.39% 4.08% 0.02% 0.5% 0.33% 8.1%
Other Information
-------------------
Number of full
service offices 155 155 153 -- --% 2 1.3%
Full-time
equivalent
employees 2,905 2,911 2,938 (7) (0.2)% (34) (1.2)%
Consolidated
Capital Ratios
-------------------
Tier 1 capital
ratio 28.1% 24.6% 23.6% 3.5% 14.0% 4.4% 18.8%
Total risk-based
capital ratio 29.3% 25.8% 24.9% 3.4% 13.3% 4.4% 17.6%
Tier 1 leverage
ratio 17.9% 15.9% 15.7% 2.0% 12.6% 2.2% 14.2%
Common equity
tier 1 ratio 28.1% 24.6% 23.6% 3.5% 14.0% 4.4% 18.8%
Total
stockholders'
equity to total
assets 18.2% 17.1% 16.2% 1.1% 6.5% 2.1% 12.8%
Tangible common
equity to
tangible assets
(non-GAAP)(1) 16.8% 15.6% 14.6% 1.3% 8.1% 2.2% 15.3%
Risk-weighted
assets $ 12,414 $ 12,212 $ 12,397 $ 203 1.7% $ 17 0.1%
Book value per
share $ 15.69 $ 14.88 $ 14.11 $ 0.81 5.4% $ 1.58 11.2%
Tangible book
value per share
(non-GAAP) $ 14.24 $ 13.29 $ 12.50 $ 0.95 7.1% $ 1.73 13.8%
Bank-Level Ratios
-------------------
Tier 1 capital
ratio 12.9% 13.6% 12.6% (0.7)% (5.2)% 0.3% 2.5%
Total risk-based
capital ratio 14.1% 14.8% 13.8% (0.7)% (4.8)% 0.3% 2.0%
Tier 1 leverage
ratio 8.2% 8.8% 8.3% (0.6)% (6.4)% (0.1)% (1.4)%
Common equity
Tier 1 ratio 12.9% 13.6% 12.6% (0.7)% (5.2)% 0.3% 2.5%
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
(2) Annualized for all partial-year periods.
(3) Fully-tax equivalent basis.
Asset Quality
-------------------
Allowance for
credit losses /
loans held for
investment 1.31% 1.32% 1.33% (0.01)% (0.8)% (0.02)% (1.4)%
Allowance for
credit losses $149,674 $149,459 $154,279 $ 215 0.1% $(4,605) (3.0)%
Allowance for
unfunded loan
commitments $ 349 $ 384 $ 484 $ (35) (9.2)% $ (135) (27.9)%
Allowance for
investment
securities $ 10 $ 16 $ 21 $ (6) (37.7)% $ (11) (51.2)%
Nonperforming
loans / loans
held for
investment 0.40% 0.45% 0.34% (0.05)% (10.3)% 0.06% 18.4%
Nonperforming
loans $ 45,977 $ 50,774 $ 39,473 $(4,797) (9.4)% $ 6,504 16.5%
Nonperforming
commercial
loans $ 17,245 $ 18,265 $ 14,490 $(1,020) (5.6)% $ 2,755 19.0%
Nonperforming
consumer
loans $ 28,732 $ 32,509 $ 24,983 $(3,777) (11.6)% $ 3,749 15.0%
Nonperforming
assets / total
assets 0.25% 0.30% 0.23% (0.05)% (16.4)% 0.02% 7.6%
Nonperforming
assets $ 51,931 $ 57,416 $ 44,748 $(5,485) (9.6)% $ 7,183 16.1%
Net charge-offs /
average loans 0.10% 0.12% 0.12% (0.02)% (17.6)% (0.02)% (16.9)%
Net charge-offs $ 2,841 $ 3,450 $ 3,483 $ (608) (17.6)% $ (641) (18.4)%
Commercial net
charge-offs $ 386 $ 1,275 $ 1,077 $ (889) (69.7)% $ (691) (64.2)%
Consumer net
charge-offs $ 2,455 $ 2,175 $ 2,405 $ 280 12.9% $ 50 2.1%
Central Bancompany, Inc. and Subsidiaries
Quarterly Average Consolidated Balance
Sheets(unaudited)
Q4 Q3 Q4 Q vs PQ Q vs PYQ
FY25 FY25 FY24 $VAR %VAR $VAR %VAR
------------ ------------ ------------ --------- ---------- ---------- ----------
(dollars in thousands)
Average Assets
Cash and due from
banks $ 187,628 $ 183,429 $ 188,541 $ 4,199 2.3% $ (913) (0.5)%
Short-term earning
assets 1,180,781 630,929 643,919 549,852 87.1% 536,862 83.4%
Investment
securities 6,154,552 6,087,403 5,650,572 67,149 1.1% 503,980 8.9%
Loans held for
investment 11,335,992 11,345,544 11,576,521 (9,552) (0.1)% (240,529) (2.1)%
Less allowance for
credit losses (149,126) (149,072) (154,643) (54) --% 5,517 (3.6)%
---------- ---------- ---------- ------- ------ -------- ------
Net loans 11,186,866 11,196,472 11,421,878 (9,606) (0.1)% (235,012) (2.1)%
Loans held for sale 33,068 28,884 33,433 4,184 14.5% (365) (1.1)%
Land, buildings, and
equipment, net 216,211 215,218 215,703 993 0.5% 508 0.2%
Goodwill and
intangibles 352,186 352,996 355,421 (810) (0.2)% (3,235) (0.9)%
Other assets 354,945 389,106 271,873 (34,161) (8.8)% 83,072 30.6%
---------- ---------- ---------- ------- ------ -------- ------
Total assets $19,666,237 $19,084,437 $18,781,340 $581,800 3.0% $ 884,897 4.7%
========== ========== ========== ======= ====== ======== ======
Average Liabilities
Noninterest-bearing
demand $ 5,375,187 $ 5,237,939 $ 5,198,795 $137,248 2.6% $ 176,392 3.4%
Savings and
interest-bearing
demand 7,962,083 7,788,117 7,610,231 173,966 2.2% 351,852 4.6%
Time 1,671,731 1,709,401 1,710,605 (37,670) (2.2)% (38,874) (2.3)%
---------- ---------- ---------- ------- ------ -------- ------
Total deposits 15,009,001 14,735,457 14,519,631 273,544 1.9% 489,370 3.4%
Federal funds
purchased and
customer 1,004,520 957,951 1,004,321 46,569 4.9% 199 --%
---------- ---------- ---------- ------- ------ -------- ------
Total customer
funds 16,013,521 15,693,408 15,523,952 320,113 2.0% 489,569 3.2%
Other liabilities 129,327 152,491 168,638 (23,164) (15.2)% (39,311) (23.3)%
---------- ---------- ---------- ------- ------ -------- ------
Total
liabilities 16,142,848 15,845,899 15,692,590 296,949 1.9% 450,258 2.9%
---------- ---------- ---------- ------- ------ -------- ------
Average
Stockholders'
Equity
Common equity 3,650,132 3,393,916 3,353,654 256,216 7.5% 296,478 8.8%
Accumulated other
comprehensive loss (27,585) (56,220) (175,573) 28,635 (50.9)% 147,988 (84.3)%
Treasury stock (99,158) (99,158) (92,309) -- --% (6,849) 7.4%
---------- ---------- ---------- ------- ------ -------- ------
Total
stockholders'
equity 3,523,389 3,238,538 3,088,750 284,851 8.8% 434,639 14.1%
---------- ---------- ---------- ------- ------ -------- ------
Total
liabilities
and
stockholders'
equity $19,666,237 $19,084,437 $18,781,340 $581,800 3.0% $ 884,897 4.7%
========== ========== ========== ======= ====== ======== ======
Average
interest-earning
assets $18,704,393 $18,092,760 $17,904,445 $611,633 3.4% $ 799,948 4.5%
Average
interest-bearing
liabilities 10,638,334 10,455,469 10,325,157 182,865 1.7% 313,177 3.0%
Average
interest-free
funds 8,066,059 7,637,291 7,579,288 428,768 5.6% 486,771 6.4%
Current and prior year information is provided on pages 9-12 below.
Central Bancompany, Inc. and
Subsidiaries
Fiscal Year Consolidated Balance
Sheets(unaudited)
YTD YTD YTD YoY
FY25 FY24 $VAR %VAR
--------------- ------------ ----------- ----------
(dollars in thousands, except per common share data)
Assets
Cash and due from banks $ 258,588 $ 265,209 $ (6,621) (2.5)%
Short-term earning
assets 1,806,594 977,298 829,296 84.9%
Investment securities 6,422,352 5,656,384 765,968 13.5%
Loans held for
investment:
Construction and
development 570,749 552,676 18,073 3.3%
Commercial, financial
& agricultural 1,761,287 1,874,906 (113,619) (6.1)%
Non-owner-occupied
commercial real
estate(1) 3,150,269 3,197,765 (47,496) (1.5)%
Owner-occupied
commercial real
estate 1,580,260 1,572,955 7,305 0.5%
---------- ---------- --------- ------
Commercial real
estate 4,730,529 4,770,720 (40,191) (0.8)%
---------- ---------- --------- ------
Total commercial
loans 7,062,565 7,198,302 (135,737) (1.9)%
---------- ---------- --------- ------
Residential mortgage
loans(2) 3,321,101 3,105,760 215,341 6.9%
Home equity lines of
credit 410,845 349,011 61,834 17.7%
Consumer credit card 98,310 93,825 4,485 4.8%
Other consumer loans 551,395 903,452 (352,057) (39.0)%
---------- ---------- --------- ------
Total residential
and consumer
loans 4,381,651 4,452,048 (70,397) (1.6)%
---------- ---------- --------- ------
Total unpaid
principal balance 11,444,216 11,650,350 (206,134) (1.8)%
---------- ---------- --------- ------
Add: Unearned
income (9,611) (26,259) 16,648 (63.4)%
---------- ---------- --------- ------
Loans held for
investment 11,434,605 11,624,091 (189,486) (1.6)%
Less: Allowance for
credit losses (149,674) (154,279) 4,605 (3.0)%
---------- ---------- --------- ------
Net loans 11,284,931 11,469,812 (184,881) (1.6)%
Loans held for sale 54,119 34,264 19,855 57.9%
Land, buildings, and
equipment, net 215,931 215,316 615 0.3%
Goodwill and
intangibles 351,664 354,890 (3,226) (0.9)%
Other assets 357,799 269,370 88,429 32.8%
---------- ---------- --------- ------
Total assets $20,751,978 $19,242,543 $1,509,435 7.8%
========== ========== ========= ======
Liabilities and
Stockholders' Equity
Deposits:
Noninterest-bearing
demand $ 5,615,652 $ 5,245,705 $ 369,947 7.1%
Savings and
interest-bearing
demand 8,611,895 8,043,244 568,651 7.1%
Time 1,635,078 1,696,899 (61,821) (3.6)%
---------- ---------- --------- ------
Total deposits 15,862,625 14,985,848 876,777 5.9%
Federal funds purchased
and customer
repurchase agreements 1,011,851 1,007,295 4,556 0.5%
---------- ---------- --------- ------
Total customer
funds 16,874,476 15,993,143 881,333 5.5%
Other liabilities 93,525 138,739 (45,214) (32.6)%
---------- ---------- --------- ------
Total liabilities 16,968,001 16,131,882 836,119 5.2%
---------- ---------- --------- ------
Stockholders' equity:
Common equity 3,900,011 3,349,966 550,045 16.4%
Accumulated other
comprehensive
(loss) (16,872) (139,925) 123,053 (87.9)%
---------- ---------- --------- ------
Less: Treasury stock (99,162) (99,380) 218 (0.2)%
---------- ---------- --------- ------
Total
stockholders'
equity 3,783,977 3,110,661 673,316 21.6%
---------- ---------- --------- ------
Total liabilities
and
stockholders'
equity $20,751,978 $19,242,543 $1,509,435 7.8%
========== ========== ========= ======
(1) Non-owner occupied commercial real estate loans
updated presentation to include multi-family loans
(2) Residential mortgage loans updated presentation
to include residential construction and development
Central Bancompany, Inc. and
Subsidiaries
Fiscal Year Consolidated Statements of
Income(unaudited)
YTD YTD YTD YoY
FY25 FY24 $VAR %VAR
--------- --------- --------- -----------
(dollars in thousands, except per common
share data)
Interest income:
Loans $712,377 $708,386 $ 3,991 0.6%
Investment
securities 237,258 151,489 85,769 56.6%
Short-term
earning assets 40,313 45,102 (4,789) (10.6)%
------- ------- ------- -------
Total
interest
income 989,948 904,977 84,971 9.4%
Interest expense:
Deposits 175,200 190,432 (15,232) (8.0)%
Federal funds
purchased and
customer
repurchase
agreements 25,083 27,221 (2,138) (7.9)%
Total
interest
expense 200,283 217,653 (17,370) (8.0)%
------- ------- ------- -------
Net interest
income 789,665 687,324 102,341 14.9%
------- ------- ------- -------
Provision for
credit losses 9,311 14,587 (5,276) (36.2)%
Noninterest
income:
Service charges
and
commissions 57,631 56,137 1,494 2.7%
Payment services
revenue 67,570 67,531 39 0.1%
Brokerage
services 28,696 25,739 2,957 11.5%
Fees for
fiduciary
services 51,954 45,897 6,057 13.2%
Mortgage banking
revenues, net 39,571 42,080 (2,509) (6.0)%
Investment
securities
(losses), net (6,811) (36,661) 29,850 (81.4)%
Other (loss)
income (6,917) 9,667 (16,584) (171.6)%
------- ------- ------- -------
Total
noninterest
income 231,694 210,390 21,304 10.1%
Less: Investment
securities
(losses), net (6,811) (36,661) 29,850 (81.4)%
Less: (Loss) on
expected sale
of consumer
lease
portfolio (13,612) - (13,612) --%
------- ------- ------- -------
Total
adjusted
noninterest
income(1) 252,117 247,051 5,066 2.1%
------- ------- ------- -------
Noninterest
expenses:
Salaries and
employee
benefits 298,080 281,087 16,993 6.0%
Net occupancy
and equipment 48,990 47,131 1,859 3.9%
Computer
software and
maintenance 22,556 20,318 2,238 11.0%
Marketing and
business
development 20,670 19,990 680 3.4%
Legal and
professional
fees 22,403 26,290 (3,887) (14.8)%
Bankcard
processing,
rewards and
related cost 30,747 32,002 (1,255) (3.9)%
Other expenses 62,044 62,589 (545) (0.9)%
------- ------- ------- -------
Total
noninterest
expenses 505,490 489,407 16,083 3.3%
------- ------- ------- -------
Income before
income taxes 506,558 393,720 112,838 28.7%
------- ------- ------- -------
Income taxes 115,705 87,910 27,795 31.6%
------- ------- ------- -------
Net income $390,853 $305,810 $ 85,043 27.8%
======= ======= ======= =======
Less: Investment
securities
(losses), net
of taxes (5,187) (27,921) 22,734 (81.4)%
Less: (Loss) on
expected sale
of consumer
lease
portfolio, net
of taxes (6,563) - (6,563) --%
------- ------- ------- -------
Adjusted net
income(1) $402,603 $333,731 $ 68,872 20.6%
======= ======= ======= =======
End of period
shares 241,106 220,385 20,721 9.4%
Weighted average
fully diluted
shares 222,352 220,587 1,765 0.8%
Net income per
common share -
diluted $ 1.75 $ 1.39 $ 0.37 26.6%
Adjusted net
income(1) per
common share -
diluted $ 1.81 $ 1.51 $ 0.30 19.5%
Dividends /
share $ 1.120 $ 0.260 $ 0.860 330.8%
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Fiscal Year Summary of Financial
Results(unaudited)
YTD YTD YTD YoY
FY25 FY24 $VAR %VAR
------------ ------------- ----------- ----------
(dollars in thousands, except per common share data
and other information)
Financial Ratios
(GAAP)
-------------------
Net interest
margin 4.30% 3.84% 0.46% 11.9%
Return on average
total assets 2.03% 1.63% 0.40% 24.4%
Return on average
common equity 11.9% 10.4% 1.5% 14.3%
Fee income ratio 22.7% 23.4% (0.8)% (3.2)%
Efficiency ratio 49.5% 54.5% (5.0)% (9.2)%
Effective tax
rate 22.8% 22.3% 0.5% 2.3%
Financial Ratios
(Non-GAAP(1) )
-------------------
Net interest
margin (FTE)(2,
3) 4.33% 3.88% 0.46% 11.8%
Adjusted return
on average total
assets(2) 2.09% 1.78% 0.31% 17.4%
Adjusted return
on average
common
equity(2) 11.9% 10.4% 1.5% 14.3%
Return on average
tangible common
equity(2) 13.4% 11.9% 1.5% 12.3%
Adjusted return
on average
tangible common
equity 13.8% 13.0% 0.8% 6.0%
Adjusted fee
income ratio 24.2% 26.4% (2.2)% (8.5)%
Efficiency ratio
(FTE)(2,3) 47.9% 51.7% (3.8)% (7.3)%
Net Interest Margin
& Yields
-------------------
Interest-earning
cash yield(3) 4.48% 5.56% (1.08)% (19.5)%
Investment
securities
yield(3) 4.00% 2.81% 1.19% 42.5%
Loan yield(3) 6.24% 6.13% 0.11% 1.8%
Cost of deposits 1.18% 1.30% (0.12)% (9.1)%
Cost of funds 1.26% 1.39% (0.13)% (9.1)%
Loan to deposit
ratio 72.4% 77.8% (5.4)% (6.9)%
Interest-free
funds ratio 42.1% 41.3% 0.7% 1.8%
Interest-earning
asset yield(3) 5.42% 5.09% 0.33% 6.5%
Cost of total
interest-bearing
liabilities 1.88% 2.07% (0.19)% (9.3)%
Net interest
spread 3.54% 3.02% 0.52% 17.4%
Benefit of
interest-free
funds 0.79% 0.86% (0.07)% (7.7)%
Net interest
margin (FTE) 4.33% 3.88% 0.46% 11.8%
Other Information
-------------------
Number of full
service offices 155 153 2 1.3%
Full-time
equivalent
employees 2,905 2,938 (34) (1.2)%
Consolidated
Capital Ratios
-------------------
Tier 1 capital
ratio 28.1% 23.6% 4.4% 18.8%
Total risk-based
capital ratio 29.3% 24.9% 4.4% 17.6%
Tier 1 leverage
ratio 17.9% 15.7% 2.2% 14.2%
Common equity
tier 1 ratio 28.1% 23.6% 4.4% 18.8%
Total
stockholders'
equity to total
assets 18.2% 16.2% 2.1% 12.8%
Tangible common
equity to
tangible assets
(non-GAAP)(1) 16.8% 14.6% 2.2% 15.3%
Risk-weighted
assets $ 12,414 $ 12,397 $ 17 0.1%
Book value per
share $ 15.69 $ 14.11 $ 1.58 11.2%
Tangible book
value per share
(non-GAAP) $ 14.24 $ 12.50 $ 1.73 13.8%
Bank-Level Ratios
-------------------
Tier 1 capital
ratio 12.9% 12.6% 0.3% 2.5%
Total risk-based
capital ratio 14.1% 13.8% 0.3% 2.0%
Tier 1 leverage
ratio 8.2% 8.3% (0.1)% (1.4)%
Common equity
Tier 1 ratio 12.9% 12.6% 0.3% 2.5%
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
(2) Annualized for all partial-year periods.
(3) Fully-tax equivalent basis.
Asset Quality
-------------------
Allowance for
credit losses /
loans held for
investment 1.31% 1.33% (0.02)% (1.4)%
Allowance for
credit losses $149,674 $154,279 $(4,605) (3.0)%
Allowance for
unfunded loan
commitments $ 349 $ 484 $ (135) (27.9)%
Allowance for
investment
securities $ 10 $ 21 $ (11) (51.2)%
Nonperforming
loans / loans
held for
investment 0.40% 0.34% 0.06% 18.4%
Nonperforming
loans $ 45,977 $ 39,473 $ 6,504 16.5%
Nonperforming
commercial
loans $ 17,245 $ 14,490 $ 2,755 19.0%
Nonperforming
consumer
loans $ 28,732 $ 24,983 $ 3,749 15.0%
Nonperforming
assets / total
assets 0.25% 0.23% 0.02% 7.6%
Nonperforming
assets $ 51,931 $ 44,748 $ 7,183 16.1%
Net charge-offs /
average loans 0.12% 0.13% (0.01)% (6.5)%
Net charge-offs $ 14,061 $ 15,206 $(1,145) (7.5)%
Commercial net
charge-offs $ 4,238 $ 5,458 $(1,221) (22.4)%
Consumer net
charge-offs $ 9,823 $ 9,748 $ 75 0.8%
Central Bancompany, Inc. and Subsidiaries
Fiscal Year Average Consolidated Balance
Sheets(unaudited)
YTD YTD YTD YoY
FY25 FY24 $VAR %VAR
(dollars in thousands)
Average Assets
Cash and due from
banks $ 189,801 $ 191,738 $ (1,937) (1.0)%
Short-term earning
assets 937,455 844,259 93,196 11.0%
Investment
securities 5,973,167 5,454,694 518,473 9.5%
Loans held for
investment 11,425,430 11,560,066 (134,636) (1.2)%
Less allowance for
credit losses (151,175) (154,674) 3,499 (2.3)%
Net loans 11,274,255 11,405,392 (131,137) (1.1)%
Loans held for sale 27,189 26,487 702 2.7%
Land, buildings, and
equipment, net 215,661 216,746 (1,085) (0.5)%
Goodwill and
intangibles 353,392 356,677 (3,285) (0.9)%
Other assets 329,139 285,225 43,914 15.4%
Total assets $19,300,059 $18,781,218 $ 518,841 2.8%
========== ========== ======== ======
Average Liabilities
Noninterest-bearing
demand $ 5,229,143 $ 5,180,962 $ 48,181 0.9%
Savings and
interest-bearing
demand 7,934,637 7,840,224 94,413 1.2%
Time 1,690,034 1,658,155 31,879 1.9%
Total deposits 14,853,814 14,679,341 174,473 1.2%
Federal funds
purchased and
customer repurchase
agreements 1,013,959 993,284 20,675 2.1%
Total customer
funds 15,867,773 15,672,625 195,148 1.2%
Other liabilities 147,099 170,618 (23,519) (13.8)%
Total
liabilities 16,014,872 15,843,243 171,629 1.1%
---------- ---------- -------- ------
Average
Stockholders'
Equity
Common equity 3,458,025 3,249,359 208,666 6.4%
Accumulated other
comprehensive loss (74,182) (225,501) 151,319 (67.1)%
Treasury stock (99,151) (88,861) (10,290) 11.6%
Total
stockholders'
equity 3,285,187 2,937,975 347,212 11.8%
---------- ---------- -------- ------
Total
liabilities
and
stockholders'
equity $19,300,059 $18,781,218 $ 518,841 2.8%
========== ========== ======== ======
Average
interest-earning
assets $18,363,241 $17,885,506 $ 477,735 2.7%
Average
interest-bearing
liabilities 10,638,630 10,491,663 146,967 1.4%
Average
interest-free
funds 7,724,611 7,393,843 330,768 4.5%
Selected quarterly information is provided on pages 13 - 16 below.
Central Bancompany,
Inc. and Subsidiaries
Selected Quarterly
Consolidated Balance
Sheets(unaudited)
Q2 Q1 Q3 Q2 Q1
FY25 FY25 FY24 FY24 FY24
------------ ------------ ------------ ------------ --------------
(dollars in thousands, except per common share data)
Assets
Cash and due from banks $ 243,927 $ 319,668 $ 256,622 $ 222,920 $ 188,099
Short-term earning
assets 663,188 1,230,602 383,132 585,328 1,313,811
Investment securities 6,017,112 5,802,740 5,659,160 5,497,584 5,313,304
Loans held for
investment:
Construction and
development 481,940 489,243 555,941 631,559 730,773
Commercial, financial
& agricultural 1,784,298 1,767,642 1,887,934 1,901,858 1,902,348
Non-owner-occupied
commercial real
estate(1) 3,178,773 3,278,281 3,216,391 3,167,570 3,031,674
Owner-occupied
commercial real
estate 1,596,915 1,608,046 1,542,735 1,563,916 1,559,098
---------- ---------- ---------- ---------- ----------
Commercial real
estate 4,775,688 4,886,327 4,759,126 4,731,486 4,590,772
---------- ---------- ---------- ---------- ----------
Total commercial
loans 7,041,926 7,143,212 7,203,001 7,264,903 7,223,893
---------- ---------- ---------- ---------- ----------
Residential mortgage
loans(2) 3,197,313 3,112,039 3,029,431 2,950,672 2,862,230
Home equity lines of
credit 371,300 357,655 341,776 326,873 311,366
Consumer credit card 89,606 87,669 87,763 88,512 89,176
Other consumer
loans 637,571 835,039 963,471 1,023,686 1,063,146
---------- ---------- ---------- ---------- ----------
Total residential
and consumer
loans 4,295,790 4,392,402 4,422,441 4,389,743 4,325,918
---------- ---------- ---------- ---------- ----------
Total unpaid
principal balance 11,337,716 11,535,614 11,625,442 11,654,646 11,549,811
---------- ---------- ---------- ---------- ----------
Add: Unearned
income (10,370) (23,677) (28,462) (29,154) (30,666)
---------- ---------- ---------- ---------- ----------
Loans held for
investment 11,327,346 11,511,937 11,596,979 11,625,492 11,519,145
Less: Allowance for
credit losses (149,381) (153,738) (155,145) (154,826) (154,569)
---------- ---------- ---------- ---------- ----------
Net loans 11,177,965 11,358,199 11,441,834 11,470,666 11,364,576
Loans held for sale 22,804 19,856 33,505 26,695 11,764
Land, buildings, and
equipment, net 213,973 214,602 214,264 215,067 215,986
Goodwill and
intangibles 353,277 354,083 355,705 356,524 357,401
Other assets 388,185 284,708 267,437 314,695 305,141
---------- ---------- ---------- ---------- ----------
Total assets $19,080,430 $19,584,460 $18,611,659 $18,689,479 $19,070,082
========== ========== ========== ========== ==========
Liabilities and
Stockholders' Equity
Deposits:
Noninterest-bearing
demand $ 5,280,287 $ 5,335,974 $ 5,302,891 $ 5,180,740 $ 5,254,254
Savings and
interest-bearing
demand 7,811,907 8,054,662 7,439,724 7,827,777 8,166,197
Time 1,696,962 1,682,101 1,700,470 1,657,723 1,632,603
---------- ---------- ---------- ---------- ----------
Total deposits 14,789,156 15,072,737 14,443,085 14,666,240 15,053,054
Federal funds purchased
and customer
repurchase agreements 973,618 1,097,440 910,976 938,816 1,015,393
---------- ---------- ---------- ---------- ----------
Total customer
funds 15,762,774 16,170,177 15,354,061 15,605,056 16,068,447
Other liabilities 144,328 170,656 174,221 167,172 185,791
---------- ---------- ---------- ---------- ----------
Total liabilities 15,907,102 16,340,833 15,528,282 15,772,228 16,254,238
---------- ---------- ---------- ---------- ----------
Stockholders' equity:
Common equity 3,336,782 3,433,445 3,314,961 3,251,566 3,168,896
Accumulated other
comprehensive
(loss) (64,296) (90,865) (141,347) (246,891) (265,817)
Less: Treasury stock (99,158) (98,953) (90,237) (87,424) (87,235)
---------- ---------- ---------- ---------- ----------
Total
stockholders'
equity 3,173,329 3,243,627 3,083,377 2,917,251 2,815,844
---------- ---------- ---------- ---------- ----------
Total liabilities
and
stockholders'
equity $19,080,430 $19,584,460 $18,611,659 $18,689,479 $19,070,082
========== ========== ========== ========== ==========
(1) Non-owner occupied commercial real estate loans
updated presentation to include multi-family loans
(2) Residential mortgage loans updated presentation
to include residential construction and development
Central
Bancompany, Inc.
and Subsidiaries
Selected Quarterly
Consolidated
Statements of
Income(unaudited)
Q2 Q1 Q3 Q2 Q1
FY25 FY25 FY24 FY24 FY24
--------- -------- --------- -------- --------
(dollars in thousands, except per common share
data)
Interest income:
Loans $177,791 $176,274 $180,810 $176,283 $171,458
Investment
securities 56,928 53,405 40,456 35,325 30,576
Short-term
earning assets 10,961 10,530 7,766 11,259 18,347
------- ------- ------- ------- -------
Total
interest
income 245,680 240,209 229,032 222,867 220,381
Interest expense:
Deposits 44,271 43,730 47,820 49,767 49,032
Federal funds
purchased and
customer
repurchase
agreements 6,352 7,206 6,541 6,790 7,416
Total
interest
expense 50,623 50,936 54,361 56,557 56,448
------- ------- ------- ------- -------
Net interest
income 195,057 189,273 174,671 166,310 163,933
------- ------- ------- ------- -------
Provision for
(recovery of)
credit losses (7) 2,920 4,844 4,042 3,083
Noninterest
income:
Service charges
and
commissions 14,179 13,944 14,371 13,830 13,640
Payment services
revenue 17,420 15,976 17,153 17,440 15,875
Brokerage
services 7,015 6,714 6,303 6,471 6,336
Fees for
fiduciary
services 12,304 12,463 11,835 10,945 10,817
Mortgage banking
revenues, net 11,139 8,727 11,490 11,362 8,862
Investment
securities
(losses) gains,
net - 109 (12,064) 14,333 327
Other income
(loss) (11,992) 855 1,398 4,430 1,191
------- ------- ------- ------- -------
Total
noninterest
income 50,065 58,788 50,486 78,811 57,048
Less: Investment
securities
(losses) gains,
net of taxes - 109 (12,064) 14,333 327
Less: (Loss) on
expected sale
of consumer
lease
portfolio (13,612) - - - -
------- ------- ------- ------- -------
Total
adjusted
noninterest
income(1) 63,677 58,679 62,550 64,478 56,721
------- ------- ------- ------- -------
Noninterest
expenses:
Salaries and
employee
benefits 74,736 71,247 72,896 69,858 67,395
Net occupancy
and equipment 11,664 11,847 11,835 11,854 11,443
Computer
software and
maintenance 5,227 6,056 5,068 5,071 5,379
Marketing and
business
development 5,417 4,959 5,084 5,330 4,204
Legal and
professional
fees 5,477 4,878 7,739 6,063 3,983
Bankcard
processing,
rewards and
related cost 8,090 7,022 8,399 8,646 8,703
Other expenses 16,159 16,252 15,681 15,456 14,447
------- ------- ------- ------- -------
Total
noninterest
expenses 126,770 122,261 126,702 122,278 115,554
------- ------- ------- ------- -------
Income before
income taxes 118,359 122,880 93,611 118,801 102,344
------- ------- ------- ------- -------
Income taxes 26,994 28,082 20,991 26,900 22,940
------- ------- ------- ------- -------
Net income $ 91,365 $ 94,798 $ 72,620 $ 91,901 $ 79,404
======= ======= ======= ======= =======
Less: Investment
securities
(losses) gains,
net of taxes - 83 (9,188) 10,916 249
Less: (Loss) on
expected sale
of consumer
lease
portfolio, net
of taxes (6,563) - - - -
------- ------- ------- ------- -------
Adjusted net
income(1) $ 97,928 $ 94,715 $ 81,808 $ 80,985 $ 79,155
======= ======= ======= ======= =======
End of period
shares 220,665 220,735 221,052 221,262 221,276
Weighted average
fully diluted
shares 220,036 219,943 220,648 220,771 220,698
Net income per
common share -
diluted $ 0.42 $ 0.43 $ 0.33 $ 0.42 $ 0.36
Adjusted net
income(1) per
common share -
diluted $ 0.44 $ 0.43 $ 0.37 $ 0.37 $ 0.36
Dividends /
share $ 0.855 $ 0.055 $ 0.045 $ 0.045 $ 0.045
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
Central Bancompany, Inc. and Subsidiaries
Selected Quarterly Summary of Financial
Results(unaudited)
Q2 Q1 Q3 Q2 Q1
FY25 FY25 FY24 FY24 FY24
------------ ------------ ------------ ------------ ------------
(dollars in thousands, except per common share data
and other information)
Financial Ratios
(GAAP)
-------------------
Net interest
margin 4.26% 4.19% 3.91% 3.75% 3.66%
Return on average
total assets 1.90% 2.00% 1.55% 1.97% 1.69%
Return on average
common equity 11.5% 12.1% 9.6% 12.9% 11.5%
Fee income ratio 20.4% 23.7% 22.4% 32.2% 25.8%
Efficiency ratio 51.7% 49.3% 56.3% 49.9% 52.3%
Effective tax
rate 22.8% 22.9% 22.4% 22.6% 22.4%
Financial Ratios
(Non-GAAP(1) )
-------------------
Net interest
margin (FTE)(2,
3) 4.30% 4.23% 3.94% 3.78% 3.70%
Adjusted return
on average total
assets(2) 2.04% 2.00% 1.75% 1.73% 1.68%
Adjusted return
on average
common
equity(2) 11.5% 12.1% 9.6% 12.9% 11.5%
Return on average
tangible common
equity(2) 13.0% 13.7% 10.9% 14.8% 13.4%
Adjusted return
on average
tangible common
equity 13.9% 13.7% 12.3% 13.1% 13.3%
Adjusted fee
income ratio 24.6% 23.7% 26.4% 27.9% 25.7%
Efficiency ratio
(FTE)(2,3) 48.4% 48.7% 52.8% 52.3% 51.6%
Net Interest Margin
& Yields
-------------------
Interest-earning
cash yield(3) 4.65% 4.65% 5.66% 5.71% 5.71%
Investment
securities
yield(3) 3.91% 3.79% 2.93% 2.65% 2.41%
Loan yield(3) 6.23% 6.20% 6.20% 6.13% 6.02%
Cost of deposits 1.19% 1.20% 1.31% 1.36% 1.32%
Cost of funds 1.28% 1.30% 1.40% 1.44% 1.42%
Loan to deposit
ratio 76.7% 76.5% 80.5% 79.4% 76.6%
Interest-free
funds ratio 41.8% 41.1% 42.3% 40.6% 40.1%
Interest-earning
asset yield(3) 5.40% 5.36% 5.16% 5.05% 4.96%
Cost of total
interest-bearing
liabilities 1.90% 1.92% 2.11% 2.14% 2.10%
Net interest
spread 3.50% 3.44% 3.05% 2.91% 2.85%
Benefit of
interest-free
funds 0.79% 0.79% 0.89% 0.87% 0.84%
Net interest
margin (FTE) 4.30% 4.23% 3.94% 3.78% 3.70%
Other Information
-------------------
Number of full
service offices 154 153 153 153 153
Full-time
equivalent
employees 2,929 2,918 2,925 2,956 2,872
Consolidated
Capital Ratios
-------------------
Tier 1 capital
ratio 23.8% 24.4% 23.4% 22.5% 22.1%
Total risk-based
capital ratio 25.0% 25.7% 24.6% 23.8% 23.4%
Tier 1 leverage
ratio 15.3% 15.8% 15.7% 15.1% 14.5%
Common equity
tier 1 ratio 23.8% 24.4% 23.4% 22.5% 22.1%
Total
stockholders'
equity to total
assets 16.6% 16.6% 16.6% 15.6% 14.8%
Tangible common
equity to
tangible assets
(non-GAAP)(1) 15.1% 15.0% 14.9% 14.0% 13.1%
Risk-weighted
assets $ 12,258 $ 12,340 $ 12,426 $ 12,585 $ 12,440
Book value per
share $ 14.38 $ 14.69 $ 13.95 $ 13.18 $ 12.73
Tangible book
value per share
(non-GAAP) $ 12.78 $ 13.09 $ 12.34 $ 11.57 $ 11.11
Bank-Level Ratios
-------------------
Tier 1 capital
ratio 13.5% 13.3% 12.7% 12.5% 12.4%
Total risk-based
capital ratio 14.7% 14.6% 14.0% 13.7% 13.7%
Tier 1 leverage
ratio 8.6% 8.6% 8.5% 8.4% 8.2%
Common equity
Tier 1 ratio 13.5% 13.3% 12.7% 12.5% 12.4%
(1) This is a non-GAAP financial measure management
believes is helpful to understanding trends in our
business that may not be fully apparent based only
on the most comparable GAAP financial measure. Further
information on this financial measure and a reconciliation
to the most comparable GAAP financial measure is provided
at the end of this release.
(2) Annualized for all partial-year periods.
(3) Fully-tax equivalent basis.
Asset Quality
-------------------
Allowance for
credit losses /
loans held for
investment 1.32% 1.34% 1.34% 1.33% 1.34%
Allowance for
credit losses $149,381 $153,738 $155,145 $154,826 $154,569
Allowance for
unfunded loan
commitments $ 524 $ 490 $ 484 $ 484 $ 568
Allowance for
investment
securities $ 22 $ 22 $ 19 $ 21 $ 21
Nonperforming
loans / loans
held for
investment 0.42% 0.43% 0.30% 0.29% 0.28%
Nonperforming
loans $ 47,637 $ 49,391 $ 34,656 $ 33,413 $ 32,298
Nonperforming
commercial
loans $ 20,501 $ 19,729 $ 10,682 $ 14,082 $ 17,411
Nonperforming
consumer
loans $ 27,136 $ 29,662 $ 23,974 $ 19,331 $ 14,887
Nonperforming
assets / total
assets 0.28% 0.28% 0.21% 0.23% 0.20%
Nonperforming
assets $ 53,887 $ 55,520 $ 39,626 $ 42,140 $ 37,942
Net charge-offs /
average loans 0.15% 0.12% 0.15% 0.13% 0.12%
Net charge-offs $ 4,316 $ 3,453 $ 4,526 $ 3,870 $ 3,328
Commercial net
charge-offs $ 1,408 $ 1,169 $ 1,973 $ 1,600 $ 808
Consumer net
charge-offs $ 2,909 $ 2,284 $ 2,553 $ 2,270 $ 2,520
Central Bancompany, Inc. and Subsidiaries
Selected Quarterly Average Consolidated Balance
Sheets (unaudited)
Q2 Q1 Q3 Q2 Q1
FY25 FY25 FY24 FY24 FY24
------------ ------------ ------------ ------------ --------------
(dollars in thousands)
Average Assets
Cash and due from
banks $ 200,185 $ 188,038 $ 185,667 $ 203,400 $ 189,443
Short-term earning
assets 983,573 955,427 567,908 826,063 1,344,385
Investment
securities 5,879,919 5,765,263 5,556,550 5,427,848 5,180,455
Loans held for
investment 11,458,168 11,565,417 11,605,729 11,581,791 11,475,540
Less allowance for
credit losses (152,818) (153,760) (155,020) (154,379) (154,588)
---------- ---------- ---------- ---------- ----------
Net loans 11,305,350 11,411,657 11,450,709 11,427,412 11,320,952
Loans held for sale 29,047 17,569 32,546 23,575 16,251
Land, buildings, and
equipment, net 215,349 215,867 215,521 218,188 217,598
Goodwill and
intangibles 353,803 354,612 356,242 357,092 357,970
Other assets 304,170 266,704 274,252 313,146 285,135
---------- ---------- ---------- ---------- ----------
Total assets $19,271,396 $19,175,137 $18,639,395 $18,796,724 $18,912,189
========== ========== ========== ========== ==========
Average Liabilities
Noninterest-bearing
demand $ 5,225,769 $ 5,074,272 $ 5,197,890 $ 5,145,596 $ 5,181,190
Savings and
interest-bearing
demand 7,985,903 8,004,524 7,635,759 7,973,897 8,145,785
Time 1,692,958 1,685,989 1,683,644 1,639,331 1,598,182
---------- ---------- ---------- ---------- ----------
Total deposits 14,904,630 14,764,785 14,517,293 14,758,824 14,925,157
Federal funds
purchased and
customer repurchase
agreements 1,009,868 1,084,995 933,029 992,844 1,043,483
---------- ---------- ---------- ---------- ----------
Total customer
funds 15,914,498 15,849,780 15,450,322 15,751,668 15,968,640
Other liabilities 162,981 143,694 166,924 171,794 178,394
---------- ---------- ---------- ---------- ----------
Total
liabilities 16,077,479 15,993,474 15,617,246 15,923,462 16,147,034
---------- ---------- ---------- ---------- ----------
Average
Stockholders'
Equity
Common equity 3,382,882 3,405,171 3,296,668 3,230,584 3,123,831
Accumulated other
comprehensive loss (89,919) (124,265) (186,101) (270,042) (271,270)
Treasury stock (99,046) (99,243) (88,418) (87,280) (87,406)
---------- ---------- ---------- ---------- ----------
Total
stockholders'
equity 3,193,917 3,181,663 3,022,149 2,873,262 2,765,155
---------- ---------- ---------- ---------- ----------
Total
liabilities
and
stockholders'
equity $19,271,396 $19,175,137 $18,639,395 $18,796,724 $18,912,189
========== ========== ========== ========== ==========
Average
interest-earning
assets $18,350,707 $18,303,676 $17,762,733 $17,859,277 $18,016,631
Average
interest-bearing
liabilities 10,688,729 10,775,508 10,252,432 10,606,072 10,787,450
Average
interest-free
funds 7,661,978 7,528,168 7,510,301 7,253,205 7,229,181
Non-GAAP Financial Measures Reconciliations
In this release, we provide information about certain non-GAAP financial measures. This information supplements the results that are reported according to generally accepted accounting principles in the United States (GAAP) and should not be viewed in isolation from, or as a substitute for, GAAP results. We are presenting these non-GAAP financial measures because we believe, when taken collectively, they may be helpful to investors because they provide consistency and comparability with past financial performance by excluding certain items that may not be indicative of our business, results of operations or outlook. The non-GAAP measures as defined by the Company may not be comparable to similar non-GAAP measures presented by other companies.
We disclose net interest income and related ratios and analysis on a fully taxable-equivalent ("FTE") basis, which may be considered non-GAAP financial measures. We believe this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison of net interest income arising from taxable and tax-exempt sources. In addition, certain performance measures, including the efficiency ratio and net interest margin utilize net interest income on a taxable-equivalent basis.
We evaluate our profitability and performance based on adjusted net income, adjusted total revenue, adjusted noninterest income, adjusted fee income and adjusted return on average total assets. We adjust each of these measures to exclude the loss on the expected sale of the consumer loan portfolio in one of our markets and adjustments that resulted from certain investment portfolio repositioning activities during the periods presented that we consider to be outside of the ordinary course of business. We believe this allows investors to assess our net income, total revenue and noninterest income exclusive of the impact of changes outside the ordinary course of business. Similarly, we evaluate our operational efficiency based on tangible noninterest expense and our adjusted efficiency ratio, which excludes the effect of amortization of intangibles (a non-cash expense item) as well as the exclusions mentioned previously in this paragraph, and includes the tax benefit associated with our tax-advantaged loans.
We evaluate our financial condition based on the ratios of our tangible common equity to our tangible assets, tangible book value per share, return and adjusted return on average common equity, and return and adjusted return on average tangible common equity. Our calculation of these ratios allows readers to assess our stockholder's equity, exclusive of the effect of our goodwill and other intangible assets.
Reconciliations for each of these non-GAAP financial measures to the closest GAAP financial measures are included in the tables below. Each of the non-GAAP financial measures presented should be considered in context with our GAAP financial results included in this release.
Central Bancompany, Inc. and Subsidiaries
Quarterly Reconciliation of non-GAAP
Measures(unaudited)
Q4 Q3 Q4 Q vs PQ Q vs PYQ
FY25 FY25 FY24 $VAR %VAR $VAR %VAR
(dollars in thousands, except share and per share
data)
Interest income (FTE), net
interest income (FTE) and
net interest margin (FTE)
Interest income $ 255,284 $ 248,775 $ 232,697 $ 6,509 2.6% $ 22,587 9.7%
Add: Tax-equivalent
adjustment (1) 1,658 1,436 1,370 222 15.5% 288 21.0%
Interest income (FTE)
(non-GAAP) $ 256,942 $ 250,211 $ 234,067 $ 6,731 2.7% $ 22,875 9.8%
========== ========== ========== ========= ======= ========= =======
Net interest
income {a} $ 206,463 $ 198,872 $ 182,410 $ 7,591 3.8% $ 24,053 13.2%
Add: Tax-equivalent
adjustment (1) 1,658 1,436 1,370 222 15.5% 288 21.0%
Net interest
income (FTE)
(non-GAAP) {b} $ 208,121 $ 200,308 $ 183,780 $ 7,813 3.9% $ 24,341 13.2%
========== ========== ========== ========= ======= ========= =======
Average
interest-earning
assets {c} $18,704,393 $18,092,760 $17,904,445 $ 611,633 3.4% $ 799,948 4.5%
{a
Net interest ÷
margin (2) c} 4.38% 4.36% 4.05% 0.02% 0.4% 0.33% 8.0%
Net interest {b
margin (FTE) ÷
(non-GAAP) (2) c} 4.41% 4.39% 4.08% 0.02% 0.5% 0.33% 8.1%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Adjusted noninterest
income, adjusted total
revenue and adjusted fee
income ratio
Noninterest
income {a} $ 65,771 $ 57,070 $ 24,045 $ 8,701 15.2% $ 41,726 173.5%
Less: Investment
securities loss -- (6,920) (39,257) 6,920 (100.0)% 39,257 (100.0)%
Adjusted
noninterest
income
(non-GAAP) {b} $ 65,771 $ 63,990 $ 63,302 1,781 2.8% 2,469 3.9%
========== ========== ========== ========= ======= ========= =======
Net interest income $ 206,463 $ 198,872 $ 182,410 7,591 3.8% 24,053 13.2%
Noninterest income 65,771 57,070 24,045 8,701 15.2% 41,726 173.5%
Total revenue {c} 272,234 255,942 206,455 16,292 6.4% 65,779 31.9%
Less: Investment
securities loss -- (6,920) (39,257) 6,920 (100.0)% 39,257 (100.0)%
Adjusted
total
revenue
(non-GAAP) {d} $ 272,234 $ 262,862 $ 245,712 $ 9,372 3.6% $ 26,522 10.8%
========== ========== ========== ========= ======= ========= =======
{a
÷
Fee income ratio c} 24.2% 22.3% 11.6% 1.9% 8.3% 12.5% 107.4%
Adjusted fee {b
income ratio ÷
(non-GAAP) d} 24.2% 24.3% 25.8% (0.2)% (0.8)% (1.6)% (6.2)%
Tangible noninterest
expense, adjusted total
revenue (FTE) and
efficiency ratio (FTE)
Net interest income $ 206,463 $ 198,872 $ 182,410 $ 7,591 3.8% $ 24,053 13.2%
Noninterest income 65,771 57,070 24,045 8,701 15.2% 41,726 173.5%
Total revenue {a} 272,234 255,942 206,455 16,292 6.4% 65,779 31.9%
Less: Investment
securities loss -- (6,920) (39,257) 6,920 (100.0)% 39,257 --%
Add: Tax equivalent
adjustment (1) 1,658 1,436 1,370 222 15.5% 288 21.0%
Adjusted
total
revenue
(FTE)
(non-GAAP) {b} $ 273,892 $ 264,298 $ 247,082 $ 9,594 3.6% $ 26,810 10.9%
========== ========== ========== ========= ======= ========= =======
Noninterest
expense {c} $ 129,514 $ 126,945 $ 124,873 $ 2,569 2.0% $ 4,641 3.7%
Less: Amortization of
intangible assets 807 807 815 -- --% (8) (1.0)%
Tangible
noninterest
expense
(non-GAAP) {d} $ 128,707 $ 126,138 $ 124,058 $ 2,569 2.0% $ 4,649 3.7%
========== ========== ========== ========= ======= ========= =======
{c
÷
Efficiency ratio a} 47.6% 49.6% 60.5% (2.0)% (4.1)% (12.9)% (21.3)%
Efficiency ratio {d
(FTE) ÷
(non-GAAP) b} 47.0% 47.7% 50.2% (0.7)% (1.5)% (3.2)% (6.4)%
(1) Effective marginal tax rate of 23.84% used for
all periods.
Adjusted net income and
adjusted return on average
total assets
Net income {a} $ 107,591 $ 97,099 $ 61,885 $ 10,492 10.8% $ 45,706 73.9%
Add: Investment securities
loss, net of taxes (1) -- 5,270 29,898 (5,270) (100.0)% (29,898) (100.0)%
Adjusted net
income
(non-GAAP) {b} $ 107,591 $ 102,369 $ 91,783 $ 5,222 5.1% $ 15,808 17.2%
========== ========== ========== ========= ======= ========= =======
Average total
assets {c} $19,666,237 $19,084,437 $18,781,340 $ 581,800 3.0% $ 884,897 4.7%
Return on average {a
total assets ÷
(3) c} 2.17% 2.02% 1.31% 0.15% 7.5% 0.86% 65.6%
Adjusted return
on average total {b
assets ÷
(non-GAAP) (3) c} 2.17% 2.13% 1.94% 0.04% 2.0% 0.23% 11.6%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) The second quarter of FY25 includes a $13.6 million
loss on the expected sale of the consumer lease portfolio
recognized in other noninterest income and a $5.0
million release of provision, which resulted in a
net pre-tax loss of $8.6 million. Net of taxes, at
a tax rate of 23.84%, the total impact to net income
was $6.6 million.
(3) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Tangible common equity,
tangible book value per
share and tangible common
equity to tangible assets
Total
stockholders'
equity {a} $ 3,783,977 $ 3,284,414 $ 3,110,661 $ 499,563 15.2% $ 673,316 21.6%
Less: Goodwill and other
intangible assets 351,664 352,470 354,890 (806) (0.2)% (3,226) (0.9)%
Tangible common
equity
(non-GAAP) {b} $ 3,432,313 $ 2,931,944 $ 2,755,771 $ 500,369 17.1% $ 676,542 24.6%
========== ========== ========== ========= ======= ========= =======
Total shares of
Class A common
stock
outstanding {c} 241,106 220,665 220,385 20,441 9.3% 20,721 9.4%
{a
Book value per ÷
share c} $ 15.69 $ 14.88 $ 14.11 $ 0.81 5.4% $ 1.58 11.2%
Tangible book {b
value per share ÷
(non-GAAP) c} $ 14.24 $ 13.29 $ 12.50 $ 0.95 7.1% $ 1.73 13.8%
Total assets {d} $20,751,978 $19,183,605 $19,242,543 $1,568,373 8.2% $1,509,435 7.8%
Less: Goodwill and other
intangible assets 351,664 352,470 354,890 (806) (0.2)% (3,226) (0.9)%
Tangible assets
(non-GAAP) {e} $20,400,314 $18,831,135 $18,887,653 $1,569,179 8.3% $1,512,661 8.0%
========== ========== ========== ========= ======= ========= =======
Total
stockholders' {a
equity to total ÷
assets d} 18.2% 17.1% 16.2% 1.1% 6.5% 2.1% 12.8%
Tangible common
equity to {b
tangible assets ÷
(non-GAAP) e} 16.8% 15.6% 14.6% 1.3% 8.1% 2.2% 15.3%
Tangible net income,
adjusted tangible net
income, average tangible
common equity, adjusted
return on average common
equity, return on average
tangible common equity and
adjusted return on average
tangible common equity
Net income {a} $ 107,591 $ 97,099 $ 61,885 $ 10,492 10.8% $ 45,706 73.9%
Add: Amortization of
intangible assets, net of
taxes (1) 615 615 621 -- --% (6) (1.0)%
Tangible net income
(non-GAAP) 108,206 97,714 62,506 10,492 10.7% 45,700 73.1%
Add: Investment
securities loss, net of
taxes (1) -- 5,270 29,898 (5,270) (100.0)% (29,898) (100.0)%
Adjusted
tangible net
income
(non-GAAP) {b} $ 108,206 $ 102,984 $ 92,404 $ 5,222 5.1% $ 15,802 17.1%
========== ========== ========== ========= ======= ========= =======
Average common
equity {c} $ 3,523,389 $ 3,238,538 $ 3,088,750 $ 284,851 8.8% $ 434,639 14.1%
Less: Average goodwill and
other intangible assets 352,186 352,996 355,421 (810) (0.2)% (3,235) (0.9)%
Average
tangible
common equity
(non-GAAP) {d} $ 3,171,203 $ 2,885,542 $ 2,733,329 $ 285,661 9.9% $ 437,874 16.0%
========== ========== ========== ========= ======= ========= =======
Return on average {a
common equity ÷
(3) c} 12.1% 11.9% 8.0% 0.2% 1.8% 4.1% 52.0%
Adjusted return
on average {b
common equity ÷
(non-GAAP) (3) c} 12.1% 12.5% 11.8% (0.4)% (3.4)% 0.3% 2.5%
Return on average
tangible common {a
equity ÷
(non-GAAP) (3) d} 13.5% 13.4% 9.1% 0.1% 0.8% 4.4% 48.8%
Adjusted return
on average
tangible common {b
equity ÷
(non-GAAP) (3) d} 13.5% 14.2% 13.4% (0.6)% (4.4)% 0.1% 0.7%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) The second quarter of FY25 includes a $13.6 million
loss on the expected sale of the consumer lease portfolio
recognized in other noninterest income and a $5.0
million release of provision, which resulted in a
net pre-tax loss of $8.6 million. Net of taxes, at
a tax rate of 23.84%, the total impact to net income
was $6.6 million.
(3) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Central Bancompany, Inc. and Subsidiaries
Fiscal Year Reconciliation of non-GAAP
Measures(unaudited)
YTD YTD YTD YoY
FY25 FY24 $VAR %VAR
(dollars in thousands, except share and per share
data)
Interest income (FTE), net
interest income (FTE) and
net interest margin (FTE)
Interest income $ 989,948 $ 904,977 $ 84,971 9.4%
Add: Tax-equivalent
adjustment (1) 6,218 5,861 357 6.1%
Interest income (FTE)
(non-GAAP) $ 996,166 $ 910,838 $ 85,328 9.4%
========== === ========== ========= ======
Net interest
income {a} $ 789,665 $ 687,324 $ 102,341 14.9%
Add: Tax-equivalent
adjustment (1) 6,218 5,861 357 6.1%
Net interest
income (FTE)
(non-GAAP) {b} $ 795,883 $ 693,185 $ 102,698 14.8%
========== === ========== ========= ======
Average
interest-earning
assets {c} $18,363,241 $17,885,506 $ 477,735 2.7%
{a
Net interest ÷
margin (2) c} 4.30% 3.84% 0.46% 11.9%
Net interest {b
margin (FTE) ÷
(non-GAAP) (2) c} 4.33% 3.88% 0.46% 11.8%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Adjusted noninterest
income, adjusted total
revenue and adjusted fee
income ratio
Noninterest
income {a} $ 231,694 $ 210,390 $ 21,304 10.1%
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- (13,612) --%
Less: Investment
securities loss (6,811) (36,661) 29,850 (81.4)%
Adjusted
noninterest
income
(non-GAAP) {b} $ 252,117 $ 247,051 5,066 2.1%
========== === ========== ========= ======
Net interest income $ 789,665 $ 687,324 102,341 14.9%
Noninterest income 231,694 210,390 21,304 10.1%
Total revenue {c} 1,021,359 897,714 123,645 13.8%
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- (13,612) --%
Less: Investment
securities loss (6,811) (36,661) 29,850 (81.4)%
Adjusted
total
revenue
(non-GAAP) {d} $ 1,041,782 $ 934,375 $ 107,407 11.5%
========== === ========== ========= ======
{a
÷
Fee income ratio c} 22.7% 23.4% (0.8)% (3.2)%
Adjusted fee {b
income ratio ÷
(non-GAAP) d} 24.2% 26.4% (2.2)% (8.5)%
Tangible noninterest
expense, adjusted total
revenue (FTE) and
efficiency ratio (FTE)
Net interest income $ 789,665 $ 687,324 $ 102,341 14.9%
Noninterest income 231,694 210,390 21,304 10.1%
Total revenue {a} 1,021,359 897,714 123,645 13.8%
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- (13,612) --%
Less: Investment
securities loss (6,811) (36,661) 29,850 (81.4)%
Add: Tax equivalent
adjustment (1) 6,218 5,861 357 6.1%
Adjusted
total
revenue
(FTE)
(non-GAAP) {b} $ 1,048,000 $ 940,236 $ 107,764 11.5%
========== === ========== ========= ======
Noninterest
expense {c} $ 505,490 $ 489,407 $ 16,083 3.3%
Less: Amortization of
intangible assets 3,227 3,388 (161) (4.8)%
Tangible
noninterest
expense
(non-GAAP) {d} $ 502,263 $ 486,019 $ 16,244 3.3%
========== === ========== ========= ======
{c
÷
Efficiency ratio a} 49.5% 54.5% (5.0)% (9.2)%
Efficiency ratio {d
(FTE) ÷
(non-GAAP) b} 47.9% 51.7% (3.8)% (7.3)%
(1) Effective marginal tax rate of 23.84% used for
all periods.
Adjusted net income and
adjusted return on average
total assets
Net income {a} $ 390,853 $ 305,810 $ 85,043 27.8%
Add: Loss on expected sale
of consumer lease
portfolio, net of
provision and taxes (1)
(2) 6,563 -- 6,563 --%
Add: Investment securities
loss, net of taxes (1) 5,187 27,921 (22,734) (81.4)%
Adjusted net
income
(non-GAAP) {b} $ 402,603 $ 333,731 $ 68,872 20.6%
========== === ========== ========= ======
Average total
assets {c} $19,300,059 $18,781,218 $ 518,841 2.8%
Return on average {a
total assets ÷
(3) c} 2.03% 1.63% 0.40% 24.4%
Adjusted return
on average total {b
assets ÷
(non-GAAP) (3) c} 2.09% 1.78% 0.31% 17.4%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) The second quarter of FY25 includes a $13.6 million
loss on the expected sale of the consumer lease portfolio
recognized in other noninterest income and a $5.0
million release of provision, which resulted in a
net pre-tax loss of $8.6 million. Net of taxes, at
a tax rate of 23.84%, the total impact to net income
was $6.6 million.
(3) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Tangible common equity,
tangible book value per
share and tangible common
equity to tangible assets
Total
stockholders'
equity {a} $ 3,783,977 $ 3,110,661 $ 673,316 21.6%
Less: Goodwill and other
intangible assets 351,664 354,890 (3,226) (0.9)%
Tangible common
equity
(non-GAAP) {b} $ 3,432,313 $ 2,755,771 $ 676,542 24.6%
========== === ========== ========= ======
Total shares of
Class A common
stock
outstanding {c} 241,106 220,385 20,721 9.4%
{a
Book value per ÷
share c} $ 15.69 $ 14.11 $ 1.58 11.2%
Tangible book {b
value per share ÷
(non-GAAP) c} $ 14.24 $ 12.50 $ 1.73 13.8%
Total assets {d} $20,751,978 $19,242,543 $1,509,435 7.8%
Less: Goodwill and other
intangible assets 351,664 354,890 (3,226) (0.9)%
Tangible assets
(non-GAAP) {e} $20,400,314 $18,887,653 $1,512,661 8.0%
========== === ========== ========= ======
Total
stockholders' {a
equity to total ÷
assets d} 18.2% 16.2% 2.1% 12.8%
Tangible common
equity to {b
tangible assets ÷
(non-GAAP) e} 16.8% 14.6% 2.2% 15.3%
Tangible net income,
adjusted tangible net
income, average tangible
common equity, adjusted
return on average common
equity, return on average
tangible common equity and
adjusted return on average
tangible common equity
Net income {a} $ 390,853 $ 305,810 $ 85,043 27.8%
Add: Amortization of
intangible assets, net of
taxes (1) 2,458 2,580 (123) (4.8)%
Tangible net income
(non-GAAP) 393,311 308,390 84,920 27.5%
Add: Loss on expected
sale of consumer lease
portfolio, net of
provision and taxes (1)
(2) 6,563 -- 6,563 --%
Add: Investment
securities loss, net of
taxes (1) 5,187 27,921 (22,734) (81.4)%
Adjusted
tangible net
income
(non-GAAP) {b} $ 405,061 $ 336,311 $ 68,749 20.4%
========== === ========== ========= ======
Average common
equity {c} $ 3,285,187 $ 2,937,975 $ 347,212 11.8%
Less: Average goodwill and
other intangible assets 353,392 356,677 (3,285) (0.9)%
Average
tangible
common equity
(non-GAAP) {d} $ 2,931,795 $ 2,581,298 $ 350,497 13.6%
========== === ========== ========= ======
Return on average {a
common equity ÷
(3) c} 11.9% 10.4% 1.5% 14.3%
Adjusted return
on average {b
common equity ÷
(non-GAAP) (3) c} 12.3% 11.4% 0.9% 7.9%
Return on average
tangible common {a
equity ÷
(non-GAAP) (3) d} 13.4% 11.9% 1.5% 12.3%
Adjusted return
on average
tangible common {b
equity ÷
(non-GAAP) (3) d} 13.8% 13.0% 0.8% 6.0%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) The second quarter of FY25 includes a $13.6 million
loss on the expected sale of the consumer lease portfolio
recognized in other noninterest income and a $5.0
million release of provision, which resulted in a
net pre-tax loss of $8.6 million. Net of taxes, at
a tax rate of 23.84%, the total impact to net income
was $6.6 million.
(3) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Central Bancompany, Inc. and Subsidiaries
Selected Quarterly Reconciliation of
non-GAAP Measures(unaudited)
Q2 Q1 Q3 Q2 Q1
FY25 FY25 FY24 FY24 FY24
--------------- --------------- --------------- --------------- ---------------
(dollars in thousands, except share and per share
data)
Interest income (FTE), net
interest income (FTE) and
net interest margin (FTE)
Interest income $ 245,680 $ 240,209 $ 229,032 $ 222,867 $ 220,381
Add: Tax-equivalent
adjustment (1) 1,542 1,581 1,364 1,466 1,661
---------- ---------- ---------- ---------- ----------
Interest income (FTE)
(non-GAAP) $ 247,222 $ 241,790 $ 230,396 $ 224,333 $ 222,042
========== ========== ========== ========== ==========
Net interest
income {a} $ 195,057 $ 189,273 $ 174,671 $ 166,310 $ 163,933
Add: Tax-equivalent
adjustment (1) 1,542 1,581 1,364 1,466 1,661
---------- ---------- ---------- ---------- ----------
Net interest
income (FTE)
(non-GAAP) {b} $ 196,599 $ 190,854 $ 176,035 $ 167,776 $ 165,594
========== ========== ========== ========== ==========
Average
interest-earning
assets {c} $18,350,707 $18,303,676 $17,762,733 $17,859,277 $18,016,631
{a
Net interest ÷
margin (2) c} 4.26% 4.19% 3.91% 3.75% 3.66%
Net interest {b
margin (FTE) ÷
(non-GAAP) (2) c} 4.30% 4.23% 3.94% 3.78% 3.70%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Adjusted noninterest
income, adjusted total
revenue and adjusted fee
income ratio
Noninterest
income {a} $ 50,065 $ 58,788 $ 50,486 $ 78,811 $ 57,048
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- -- -- --
Less: Investment
securities loss (gain) -- 109 (12,064) 14,333 327
---------- ---------- ---------- ---------- ----------
Adjusted
noninterest
income
(non-GAAP) {b} $ 63,677 $ 58,679 $ 62,550 $ 64,478 $ 56,721
========== ========== ========== ========== ==========
Net interest income $ 195,057 $ 189,273 $ 174,671 $ 166,310 $ 163,933
Noninterest income 50,065 58,788 50,486 78,811 57,048
---------- ---------- ---------- ---------- ----------
Total revenue {c} 245,122 248,061 225,157 245,121 220,981
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- -- -- --
Less: Investment
securities loss (gain) -- 109 (12,064) 14,333 327
---------- ---------- ---------- ---------- ----------
Adjusted
total
revenue
(non-GAAP) {d} $ 258,734 $ 247,952 $ 237,221 $ 230,788 $ 220,654
========== ========== ========== ========== ==========
{a
÷
Fee income ratio c} 20.4% 23.7% 22.4% 32.2% 25.8%
Adjusted fee {b
income ratio ÷
(non-GAAP) d} 24.6% 23.7% 26.4% 27.9% 25.7%
Tangible noninterest
expense, adjusted total
revenue (FTE) and
efficiency ratio (FTE)
Net interest income $ 195,057 $ 189,273 $ 174,671 $ 166,310 $ 163,933
Noninterest income 50,065 58,788 50,486 78,811 57,048
---------- ---------- ---------- ---------- ----------
Total revenue {a} 245,122 248,061 225,157 245,121 220,981
Less: Loss on expected
sale of consumer lease
portfolio (13,612) -- -- -- --
Less: Investment
securities loss (gain) -- 109 (12,064) 14,333 327
Add: Tax equivalent
adjustment (1) 1,542 1,581 1,364 1,466 1,661
---------- ---------- ---------- ---------- ----------
Adjusted
total
revenue
(FTE)
(non-GAAP) {b} $ 260,276 $ 249,533 $ 238,585 $ 232,254 $ 222,315
========== ========== ========== ========== ==========
Noninterest
expense {c} $ 126,770 $ 122,261 $ 126,702 $ 122,278 $ 115,554
Less: Amortization of
intangible assets 807 807 818 877 877
---------- ---------- ---------- ---------- ----------
Tangible
noninterest
expense
(non-GAAP) {d} $ 125,963 $ 121,454 $ 125,884 $ 121,401 $ 114,677
========== ========== ========== ========== ==========
{c
÷
Efficiency ratio a} 51.7% 49.3% 56.3% 49.9% 52.3%
Efficiency ratio {d
(FTE) ÷
(non-GAAP) b} 48.4% 48.7% 52.8% 52.3% 51.6%
(1) Effective marginal tax rate of 23.84% used for
all periods.
Adjusted net income and
adjusted return on average
total assets
Net income {a} $ 91,365 $ 94,798 $ 72,620 $ 91,901 $ 79,404
Add: Loss on
expected sale of
consumer lease
portfolio, net of
provision and
taxes (1) (2) 6,563 -- -- -- --
Add: Investment securities
loss (gain), net of taxes
(1) -- (83) 9,188 (10,916) (249)
---------- ---------- ---------- ---------- ----------
Adjusted net
income
(non-GAAP) {b} $ 97,928 $ 94,715 $ 81,808 $ 80,985 $ 79,155
========== ========== ========== ========== ==========
Average total
assets {c} $19,271,396 $19,175,137 $18,639,395 $18,796,724 $18,912,189
Return on average {a
total assets ÷
(3) c} 1.90% 2.00% 1.55% 1.97% 1.69%
Adjusted return
on average total {b
assets ÷
(non-GAAP) (3) c} 2.04% 2.00% 1.75% 1.73% 1.68%
(1) Effective marginal tax rate of 23.84% used for
all periods.
(2) The second quarter of FY25 includes a $13.6 million
loss on the expected sale of the consumer lease portfolio
recognized in other noninterest income and a $5.0
million release of provision, which resulted in a
net pre-tax loss of $8.6 million. Net of taxes, at
a tax rate of 23.84%, the total impact to net income
was $6.6 million.
(3) Ratios for the quarters and year-to-date are presented
on an annualized basis.
Tangible common equity,
tangible book value per
share and tangible common
equity to tangible assets
Total
stockholders'
equity {a} $ 3,173,329 $ 3,243,627 $ 3,083,377 $ 2,917,251 $ 2,815,844
Less: Goodwill and other
intangible assets 353,277 354,083 355,705 356,524 357,401
---------- ---------- ---------- ---------- ----------
Tangible common
equity
(non-GAAP) {b} $ 2,820,052 $ 2,889,544 $ 2,727,672 $ 2,560,727 $ 2,458,443
========== ========== ========== ========== ==========
Total shares of
Class A common
stock
outstanding {c} 220,665 220,735 221,052 221,262 221,276
{a
Book value per ÷
share c} $ 14.38 $ 14.69 $ 13.95 $ 13.18 $ 12.73
Tangible book {b
value per share ÷
(non-GAAP) c} $ 12.78 $ 13.09 $ 12.34 $ 11.57 $ 11.11
Total assets {d} $19,080,430 $19,584,460 $18,611,659 $18,689,479 $19,070,082
Less: Goodwill and other
intangible assets 353,277 354,083 355,705 356,524 357,401
---------- ---------- ---------- ---------- ----------
Tangible assets
(non-GAAP) {e} $18,727,153 $19,230,377 $18,255,954 $18,332,955 $18,712,681
========== ========== ========== ========== ==========
Total
stockholders' {a
equity to total ÷
assets d} 16.6% 16.6% 16.6% 15.6% 14.8%
Tangible common
equity to {b
tangible assets ÷
(non-GAAP) e} 15.1% 15.0% 14.9% 14.0% 13.1%
Tangible net income,
adjusted tangible net
income, average tangible
common equity, adjusted
return on average common
equity, return on average
tangible common equity and
adjusted return on average
tangible common equity
Net income {a} $ 91,365 $ 94,798 $ 72,620 $ 91,901 $ 79,404
Add: Amortization of
intangible assets, net of
taxes (1) 615 615 623 668 668
---------- ---------- ---------- ---------- ----------
Tangible net income
(non-GAAP) 91,980 95,413 73,243 92,569 80,072
Add: Loss on
expected sale
of consumer
lease
portfolio, net
of provision
and taxes (1)
(2) 6,563 -- -- -- --
Add: Investment
securities loss (gain),
net of taxes (1) -- (83) 9,188 (10,916) (249)
---------- ---------- ---------- ---------- ----------
Adjusted
tangible net
income
(non-GAAP) {b} $ 98,543 $ 95,330 $ 82,431 $ 81,653 $ 79,823
========== ========== ========== ========== ==========
Average common
equity {c} $ 3,193,917 $ 3,181,663 $ 3,022,149 $ 2,873,262 $ 2,765,155
Less: Average goodwill and
other intangible assets 353,803 354,612 356,242 357,092 357,970
---------- ---------- ---------- ---------- ----------
Average
tangible
common equity
(non-GAAP) {d} $ 2,840,114 $ 2,827,051 $ 2,665,907 $ 2,516,170 $ 2,407,185
========== ========== ========== ========== ==========
Return on average {a
common equity ÷
(3) c} 11.5% 12.1% 9.6% 12.9% 11.5%
Adjusted return
on average {b
common equity ÷
(non-GAAP) (3) c} 12.3% 12.1% 10.8% 11.3% 11.5%
Return on average
tangible common {a
equity ÷
(non-GAAP) (3) d} 13.0% 13.7% 10.9% 14.8% 13.4%
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