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Achieved record quarterly net income of $51 million, representing 16% year-over-year growth fueled by commercial loan momentum and successful acquisition integration.

Expanded nationwide commercial verticals to represent approximately 23% of the total commercial lending portfolio, providing strategic differentiation through specialized industry leadership.

Realized significant positive operating leverage of 560 basis points quarter-over-quarter as the bank fully captured expense synergies from the Penns Woods acquisition.

Maintained a robust net interest margin of 370 basis points by proactively managing deposit costs, which decreased for the third consecutive quarter despite a competitive environment.

Improved credit quality metrics with a decline in nonperforming assets and total delinquencies, while net charge-offs of 16 basis points remained below the low end of annual guidance.

Advanced the consumer bank transformation by initiating the development of five new financial centers in the Columbus headquarters market to drive localized market share.

Maintained full-year 2026 guidance, anticipating low-to-mid-single digit loan growth supported by strong commercial pipelines and slowing residential mortgage payoffs.

Expects net interest margin to remain stable in the low 3.70% range, assuming no further interest rate cuts and continued repricing of the maturing CD portfolio.

Anticipates a shift in commercial real estate strategy toward stabilization and light industrial projects to mitigate runoff from legacy construction loan refinancings.

Projects consistent expense management to maintain positive operating leverage, with potential cost increases tied primarily to performance-based incentive compensation.

Focuses on scaling fee-generating businesses, specifically targeting wealth management and SBA lending through new leadership and integrated commercial product suites.

Authorized a new $50 million share repurchase program to modernize capital management tools, though capital priorities remain focused on organic growth and dividends.

Noted an increase in classified loans attributed to two specific C&I borrowers, though management indicated no expectation of resulting material loss content or higher charge-offs.

Reported a decrease in noninterest income driven by a higher bank-owned life insurance (BOLI) benefit recorded in the prior year, normalizing current run rates.

Acknowledged a slowdown in M&A dialogue due to macroeconomic and geopolitical uncertainty, shifting near-term focus exclusively to core organic execution.

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Management attributed the first quarter loan growth to organic commercial activity offsetting planned runoff in criticized assets and legacy construction real estate.

Confidence in credit quality stems from a rigorous reevaluation of internal ratings; management believes current classified inflows lack significant loss content and will be resolved through borrower relationships.

The recent uptick in security purchases was a tactical move to capture yields before anticipated rate cuts rather than a shift in long-term balance sheet composition.

Management intends to maintain the allowance for credit losses (ACL) coverage at approximately 1.15%, adjusting primarily for volume-driven loan growth.

While no hard upper limit exists for national verticals, the bank is scaling them prudently to ensure they do not overtake the core in-market portfolio.

These verticals are viewed as essential for risk diversification and provide higher-yield opportunities compared to more competitive local middle-market lending.

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