At 21.9x trailing earnings versus a sharply lower 11.8x Forward P/E, the market is pricing in a meaningful earnings acceleration, yet the PEG Forward of 1.3 suggests that growth is not outrageously overvalued. The real tension lies in the balance between a respectable 16.30% ROIC and a dangerously low Altman Z-Score of 0.3, which signals balance sheet fragility beneath a superficially reasonable 1.5x Price/Book. A 6.80% ROE and 6.70% operating margin are modest for a regional bank, but not broken. This is not a distressed valuation, nor is it expensive growth—it’s a cautiously priced regional bank where the forward multiple implies optimism that must overcome clear balance sheet risk signals.