Income Statement

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  Year Ending Dec 2025 (Update) Year Ending Dec 2024 (Update) Year Ending Dec 2023 (Reclassified) Year Ending Dec 2022 (Reclassified)
Interest & Fees on Loans 776.43 426.42 385.85 287.48
Interest & Dividends on Investment Securities 92.79 74.82 84.16 69.60
Other Interest Income 24.63 22.44 10.53 3.10
Interest Income, Bank 893.86 523.68 480.54 360.18
Interest on Deposit 302.99 178.46 123.99 16.11
Interest on Other Borrowings 17.55 18.30 30.73 18.96
Federal Funds Purchased/Securities Sold Under Repurchase Agreement 3.71 4.31 5.20 1.48
Total Interest Expense 324.25 201.07 159.92 36.55
Net Interest Income 569.61 322.61 320.62 323.63
Loan Loss Provision 52.74 8.59 2.40 4.62
Net Interest Income After Loan Loss Provision 516.87 314.02 318.22 319.01
Fees & Commissions from Operations 26.89 2.08 1.09 1.90
Commissions/Fees From Securities Activities 86.75 63.63 57.31 55.38
Fees for Other Customer Services -- 30.93 29.04 33.11
Dealer Trading Account Profit 4.52 0.93 -2.17 -2.18
Investment Securities Gains -15.24 -7.03 -0.03 0.05
Other Unusual Income 0.00 7.72 0.00 0.00
Other Revenue 47.06 41.42 35.97 38.36
Non-Interest Income, Bank 149.98 139.68 121.21 126.61
Labor & Related Expenses -289.06 -174.04 -158.84 -156.02
Depreciation Expense -0.27 -- -- --
Amortization of Intangibles -16.61 -10.06 -10.43 -11.63
Other Unusual Expense -- -6.90 -0.36 -1.06
Restructuring Charge -- -1.24 -3.97 -2.49
Other Expense -174.26 -108.16 -111.94 -112.68
Non-Interest Expense, Bank -480.20 -300.40 -285.53 -283.88
Net Income Before Taxes 186.64 153.30 153.90 161.74
Income Tax – Total 51.38 39.61 31.34 33.43
Income After Tax 135.26 113.69 122.57 128.31
Net Income Before Extraordinary Items 135.26 113.69 122.57 128.31
Extraordinary Item -- -- -- --
Total Extraordinary Items -- -- -- --
Net Income 135.26 113.69 122.57 128.31
Preferred Dividends -9.88 -- -- --
Total Adjustments to Net Income -9.88 -- -- --
Income Available to Common Excluding Extraordinary Items 125.39 113.69 122.57 128.31
Income Available to Common Stocks Including Extraordinary Items 125.39 113.69 122.57 128.31
Basic Weighted Average Shares 84.01 56.61 55.43 55.39
Basic EPS Excluding Extraordinary Items 1.49 2.01 2.21 2.32
Basic EPS Including Extraordinary Items 1.49 2.01 2.21 2.32
Diluted Net Income 125.39 113.69 122.57 128.31
Diluted Weighted Average Shares 85.13 57.54 56.26 56.14
Diluted EPS Excluding Extraordinary Items 1.47 1.98 2.18 2.29
Diluted EPS Including Extraordinary Items 1.47 1.98 2.18 2.29
DPS - Common Stock Primary Issue 1.01 0.97 0.96 0.93
Gross Dividends - Common Stock 81.11 54.17 53.08 50.86
Impairment-Assets Held for Use, Supplemental -- 0.00 0.00 0.99
Restructuring Charge, Supplemental 0.04 -- -- --
Other Unusual Expense (Income), Supplemental 54.74 -- -- --
Non-Recurring Items, Total 54.78 0.00 0.00 0.99
Total Special Items 54.78 0.42 4.33 4.54
Normalized Income Before Taxes 241.42 153.72 158.23 166.27
Effect of Special Items on Income Taxes -25.31 -2.03 -0.88 -0.94
Income Taxes Excluding Impact of Special Items 26.07 37.59 30.46 32.49
Normalized Income After Taxes 215.35 116.13 127.77 133.79
Normalized Income Available to Common 205.47 116.13 127.77 133.79
Basic Normalized EPS 2.45 2.05 2.31 2.42
Diluted Normalized EPS 2.41 2.02 2.27 2.38
Amortization of Intangibles, Supplemental 17.28 11.05 13.22 15.17
Depreciation, Supplemental 12.93 9.50 9.49 10.48
Rental Expense, Supplemental 5.92 2.35 2.40 2.50
Stock-Based Compensation, Supplemental 17.12 7.73 6.60 8.97
Audit-Related Fees, Supplemental -- 1.03 0.86 0.92
Audit-Related Fees -- -- 0.00 --
Tax Fees, Supplemental -- -- 0.00 0.00
All Other Fees Paid to Auditor, Supplemental -- -- 0.00 0.00
Pretax Margin 20.88 29.27 32.03 44.90
Effective Tax Rate 27.53 25.84 20.36 20.67
Net Profit Margin 14.03 21.71 25.51 35.62
Bank Total Revenue 719.58 462.29 441.84 450.24
Current Tax - Domestic 33.60 26.70 20.14 20.82
Current Tax - Local 9.71 11.53 14.12 13.88
Current Tax - Total -- -- -- --
Current Tax - Total 43.30 38.23 34.26 34.70
Deferred Tax - Domestic -0.58 1.56 -1.56 -0.70
Deferred Tax - Local 8.65 -0.18 -1.36 -0.57
Deferred Tax - Total -- -- -- --
Deferred Tax - Total 8.07 1.38 -2.92 -1.27
Income Tax - Total 51.38 39.61 31.34 33.43
Defined Contribution Expense - Domestic 11.18 7.86 6.78 7.05
Total Pension Expense 11.18 7.86 6.78 7.05
Net Interest Margin, Total -% 3.51 2.95 2.89 2.84

In millions of USD (except for per share items)

Source: LSEG