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Operating Segments and Related Information (Tables)

6 Months Ended

Jun. 30, 2021

Operating Segments and Related Information

Summary of information relating to operating segments

Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands):


		Goodwill						Total Assets
		As of						As of
		June 30,			December 31,			June 30,			December 31,
		2021			2020			2021			2020
Operating segment
Banking		$	294,421		$	288,436		$	12,301,878		$	10,462,673
Remittance Processing			8,992			8,992			46,761			46,553
Wealth Management			14,108			14,108			63,529			46,504
Other			—			—			3,281			(11,683)
Consolidated total		$	317,521		$	311,536		$	12,415,449		$	10,544,047



		Three Months Ended June 30,						Six Months Ended June 30,
		2021			2020			2021			2020
Net interest income
Banking		$	68,250		$	73,318		$	136,705		$	144,891
Remittance Processing			21			19			41			38
Wealth Management			—			—			—			—
Other			(3,729)			(2,524)			(7,311)			(4,683)
Total net interest income		$	64,542		$	70,813		$	129,435		$	140,246

Non-interest income
Banking		$	14,938		$	14,026		$	27,822		$	27,194
Remittance Processing			4,809			3,962			9,670			8,031
Wealth Management			13,000			10,310			25,587			22,019
Other			264			(334)			1,377			(1,763)
Total non-interest income		$	33,011		$	27,964		$	64,456		$	55,481

Non-interest expense
Banking		$	48,421		$	41,659		$	90,512		$	90,174
Remittance Processing			4,277			3,243			8,567			6,146
Wealth Management			6,717			6,254			13,282			13,228
Other			3,210			1,912			4,763			4,034
Total non-interest expense		$	62,625		$	53,068		$	117,124		$	113,582

Income before income taxes
Banking		$	36,467		$	32,794		$	82,511		$	51,804
Remittance Processing			553			738			1,144			1,923
Wealth Management			6,283			4,056			12,305			8,791
Other			(6,675)			(4,770)			(10,697)			(10,480)
Total income before income taxes		$	36,628		$	32,818		$	85,263		$	52,038

Net income
Banking		$	29,238		$	25,985		$	64,766		$	40,909
Remittance Processing			401			528			830			1,388
Wealth Management			4,884			3,082			9,566			6,681
Other			(4,757)			(3,789)			(7,580)			(7,808)
Total net income		$	29,766		$	25,806		$	67,582		$	41,170