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Operating Segments

12 Months Ended

Dec. 31, 2024

Operating Segments

Operating Segments

Note 26:      Operating Segments

​

The Company’s banking operation is its only operating segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. The parent holding company does not have any significant operations other than ownership of the Bank, and the parent holding company’s only income is equity in the earnings of the Bank.

Our chief executive officer is our chief operating decision maker. Our chief executive officer reviews actual net income versus budgeted net income, as well as comparison to other comparable financial reporting periods, to assess performance on a monthly basis and to make decisions about allocating capital and personnel.

Financial results by operating segment (all attributed to the banking segment), including significant expense categories provided to the chief operating decision maker, are detailed below at December 31, 2024, 2023 and 2022.

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
​	​	​	​	​	(In Thousands)		​	​	​
​	​	​	​	​	​	​	​	​	​
Interest income	​	$	324,698	​	$	296,835	​	$	226,977
Interest expense	​		135,555	​		103,620	​		27,363
Net interest income	​		189,143	​		193,215	​		199,614
​	​	​	​	​	​	​	​	​	​
Credit loss expense	​		2,716	​		(3,079)	​		6,187
Net interest income after credit loss expense	​		186,427	​		196,294	​		193,427
​	​	​	​	​	​	​	​	​	​
Non-interest Income	​			​			​
Commissions	​		1,227	​		1,153	​		1,208
Overdraft and insufficient funds fees	​		5,140	​		7,617	​		7,872
Point-of-sale and ATM fee income and service charges	​		13,586	​		14,346	​		15,705
Net gain on loan sales	​		3,779	​		2,354	​		2,584
Net realized loss on sales of available-for-sale securities	​		—	​		—	​		(130)
Late charges and fees on loans	​		512	​		786	​		1,182
Fees from debit card contracts	​		1,804	​		2,579	​		2,304
Other income	​		4,517	​		1,238	​		3,416
​	​		30,565	​		30,073	​		34,141
​	​	​	​	​	​	​	​	​	​
Non-interest Expense	​			​			​
Salaries and incentives	​		63,954	​		63,641	​		61,091
Employee benefits	​		14,645	​		14,880	​		14,209
Net occupancy expense	​		12,430	​		12,357	​		11,963
Technology, furniture and equipment expense	​		19,688	​		18,477	​		16,508
Postage	​		3,329	​		3,590	​		3,379
Insurance	​		4,622	​		4,542	​		3,197
Advertising	​		3,124	​		3,396	​		3,261
Office supplies and printing	​		1,008	​		1,057	​		867
Telephone	​		2,772	​		2,730	​		3,170
Legal, audit and other professional fees	​		5,399	​		7,086	​		6,330
Expense (income) on other real estate and repossessions	​		(304)	​		311	​		359
Acquired intangible asset amortization	​		433	​		286	​		768
Travel meals and entertainment	​		2,066	​		2,076	​		1,827
Other operating expenses	​		8,329	​		6,594	​		6,437
​	​		141,495	​		141,023	​		133,366
​	​	​	​	​	​	​	​	​	​
Income Before Income Taxes	​		75,497	​		85,344	​		94,202
Provision for Income Taxes	​		13,690	​		17,544	​		18,254
Net Income	​	$	61,807	​	$	67,800	​	$	75,948

​

The measure of segment assets is based on total assets as reported on the consolidated statements of financial condition. For the years ended December 31, 2024 and 2023, there were no adjustments or reconciling items between the banking segment total assets and total assets as presented on the consolidated statements of financial condition.

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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