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Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

Note 19. Segment Information

The Company, through the Bank, provides a broad range of financial services to individuals and companies through its offices in East and Middle Tennessee, Alabama and Florida. These services include, but not limited to, primary deposit products are interest-bearing demand deposits, savings and money market deposits, and time deposits. Its primary lending products are commercial, residential, and consumer loans. The Company’s operations are managed, and financial performance is evaluated on an organization-wide basis. Accordingly, the Company’s banking and finance operations are not considered by management to constitute more than one reportable operating segment. This single segment is the General Banking Unit.

The Company’s chief operating decision maker (“CODM”) is the Executive Committee. The CODM includes the senior executive management team including the Chief Executive Officer, Chief Financial Officer, Chief Credit Officer, Chief Accounting Officer, Chief People Officer, Chief Risk Officer, and Chief Banking Officer.

The CODM assesses performance of the General Banking Unit using a variety of figures, metrics and key performance indicators. However, the CODM primarily utilizes net income and net interest income to make business decisions. The CODM monitors these profitability measures at each meeting, and is regularly featured in various investor presentations, earnings releases, and other internal management reports. These performance and profitability measures influence business decisions and allocation of resources within the General Banking Unit.

The table below provides information about the General Banking Unit. The most significant expenses to the General Banking Unit are deposit and other borrowing interest expense as well as employee compensation (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Banking Segment
​	​	Year Ended December 31,
​	​	2024		​	2023		​	2022
Interest income	​	$	251,119	​	$	218,043	​	$	158,834
Interest expense	​	​	113,769	​	​	87,963	​	​	21,333
Net interest income	​	​	137,350	​	​	130,080	​	​	137,501
Provision for credit losses	​	​	5,153	​	​	3,029	​	​	4,018
Net interest income after provision for credit losses	​	​	132,197	​	​	127,051	​	​	133,483
Noninterest income:	​	​	​	​	​	​	​	​	​
Service charges on deposit accounts	​	​	6,862	​	​	6,511	​	​	5,853
Loss on sale of securities	​	​	64	​	​	(6,801)	​	​	144
Mortgage banking	​	​	1,579	​	​	1,040	​	​	1,552
Investment services	​	​	5,945	​	​	5,105	​	​	4,144
Insurance commissions	​	​	5,696	​	​	4,684	​	​	3,595
Interchange and debit card transaction fees, net	​	​	5,277	​	​	5,457	​	​	5,435
Other	​	​	8,729	​	​	6,329	​	​	6,992
Total noninterest income	​	​	34,152	​	​	22,325	​	​	27,715
Noninterest expense:	​	​	​	​	​	​	​	​	​
Salaries and employee benefits	​	​	72,100	​	​	65,749	​	​	63,420
Occupancy and equipment	​	​	13,617	​	​	13,451	​	​	12,034
FDIC insurance	​	​	3,390	​	​	3,156	​	​	2,672
Other real estate and loan related expense	​	​	2,823	​	​	2,397	​	​	2,446
Advertising and marketing	​	​	1,321	​	​	1,342	​	​	1,293
Data processing and technology	​	​	9,930	​	​	9,235	​	​	7,283
Professional services	​	​	4,207	​	​	3,443	​	​	3,790
Amortization of intangibles	​	​	2,425	​	​	2,624	​	​	2,607
Merger related and restructuring expenses	​	​	—	​	​	110	​	​	562
Other	​	​	11,077	​	​	11,643	​	​	10,183
Total noninterest expense	​	​	120,890	​	​	113,150	​	​	106,290
Income before income tax expense	​	​	45,459	​	​	36,226	​	​	54,908
Income tax expense	​	​	9,318	​	​	7,633	​	​	11,886
Net income	​	$	36,141	​	$	28,593	​	$	43,022

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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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