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OPERATING SEGMENTS

9 Months Ended

Sep. 30, 2025

OPERATING SEGMENTS

OPERATING SEGMENTS

NOTE 17: OPERATING SEGMENTS

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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 for the three and nine months ended September 30, 2025 and 2024.

​

​	​	​	​	​	​	​
​	​	Three Months Ended September 30,
​		2025			2024
​	​	(In Thousands)
Interest income	​	$	79,079	​	$	83,796
Interest expense	​		28,306	​		35,821
Net interest income	​		50,773	​		47,975
​	​	​	​	​	​	​
Credit loss expense	​		(379)	​		1,137
Net interest income after credit loss expense	​		51,152	​		46,838
​	​	​	​	​	​	​
Non-interest Income	​			​		​
Commissions	​		566	​		360
Overdraft and insufficient funds fees	​		1,367	​		1,307
Point-of-sale and ATM fee income and service charges	​		3,290	​		3,467
Net gain on loan sales	​		916	​		1,076
Late charges and fees on loans	​		189	​		77
Fees from debit card contracts	​		348	​		348
Other income	​		386	​		357
​	​		7,062	​		6,992
​	​	​	​	​	​	​
Non-interest Expense	​			​		​
Salaries and incentives	​		16,450	​		15,943
Employee benefits	​		3,734	​		3,605
Net occupancy expense	​		3,281	​		3,267
Technology, furniture and equipment expense	​		5,592	​		4,871
Postage	​		893	​		861
Insurance	​		1,110	​		1,052
Advertising	​		985	​		928
Office supplies and printing	​		238	​		232
Telephone	​		690	​		669
Legal, audit and other professional fees	​		1,248	​		809
Expense (income) on other real estate and repossessions	​		(142)	​		(536)
Intangible asset amortization	​		109	​		108
Travel meals and entertainment	​		883	​		808
Other operating expenses	​		1,045	​		1,100
​	​		36,116	​		33,717
​	​	​	​	​	​	​
Income Before Income Taxes	​		22,098	​		20,113
Provision for Income Taxes	​		4,346	​		3,623
Net Income	​	$	17,752	​	$	16,490

​

​	​	​	​	​	​	​
​	​	Nine Months Ended September 30,
​		2025			2024
​	​	(In Thousands)
Interest income	​	$	240,297		$	242,113
Interest expense	​		89,227	​		102,504
Net interest income	​		151,070	​		139,609
​	​	​	​	​	​	​
Credit loss expense	​		(837)	​		1,160
Net interest income after credit loss expense	​		151,907	​		138,449
​	​	​	​	​	​	​
Non-interest Income	​			​
Commissions	​		1,239	​		1,010
Overdraft and insufficient funds fees	​		3,848	​		3,826
Point-of-sale and ATM fee income and service charges	​		9,968	​		10,238
Net gain on loan sales	​		2,410	​		2,880
Late charges and fees on loans	​		772	​		380
Fees from debit card contracts	​		1,216	​		1,449
Other income	​		2,411	​		3,848
​	​		21,864	​		23,631
​	​	​	​	​	​	​
Non-interest Expense	​			​
Salaries and incentives	​		48,928	​		48,021
Employee benefits	​		11,390	​		11,069
Net occupancy expense	​		9,663	​		9,252
Technology, furniture and equipment expense	​		16,178	​		14,566
Postage	​		2,649	​		2,445
Insurance	​		3,370	​		3,459
Advertising	​		1,980	​		2,169
Office supplies and printing	​		742	​		735
Telephone	​		2,101	​		2,075
Legal, audit and other professional fees	​		3,215	​		4,398
Expense (income) on other real estate and repossessions	​		(380)	​		(190)
Intangible asset amortization	​		325	​		325
Travel meals and entertainment	​		1,541	​		1,407
Other operating expenses	​		4,241	​		4,817
​	​		105,943	​		104,548
​	​	​	​	​	​	​
Income Before Income Taxes	​		67,828	​		57,532
Provision for Income Taxes	​		13,130	​		10,647
Net Income	​	$	54,698	​	$	46,885

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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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