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Segment Reporting | 9 Months Ended
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Sep. 30, 2023
Segment Reporting |
Segment Reporting | NOTE 15 Segment Reporting Operating segments are components of an enterprise, which are evaluated regularly by the “chief operating decision maker” in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker is the President and Chief Executive Officer of the Company. Reportable segments are determined based on the services offered, the significance of the services offered, the significance of those services to the Company’s financial statements, and management’s regular review of the operating results of those services. The Company operates through four operating segments: Banking, Retirement and Benefit Services, Wealth Management, and Mortgage. The financial information presented for each segment includes net interest income, provision for credit losses, direct noninterest income, and direct noninterest expense, before indirect allocations. Corporate Administration includes the indirect overhead and is set forth in the table below. The segment net income before taxes represents direct revenue and expense before indirect allocations and income taxes. The following table presents key metrics related to the Company’s segments for the periods presented: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2023
​ | ​ | ​ | ​ | ​ | Retirement and | ​ | Wealth | ​ | ​ | ​ | ​ | Corporate | ​ | ​ | ​
(dollars in thousands) |  | Banking |  | Benefit Services |  | Management |  | Mortgage |  | Administration |  | Consolidated
Net interest income (loss) | ​ | $ | 20,818 | ​ | $ | — | ​ | $ | — | ​ | $ | 255 | ​ | $ | (678) | ​ | $ | 20,395
Provision for credit losses | ​ |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | — | ​ |  | —
Noninterest income (loss) | ​ |  | 2,150 | ​ |  | 18,605 | ​ |  | 5,271 | ​ |  | 2,510 | ​ |  | (129) | ​ |  | 28,407
Intercompany revenue (expense) | ​ | ​ | (9,371) | ​ | ​ | 4,264 | ​ |  | 4,624 | ​ |  | 483 | ​ | ​ | — | ​ | ​ | —
Noninterest expense | ​ |  | 10,728 | ​ |  | 9,354 | ​ |  | 2,722 | ​ |  | 3,245 | ​ |  | 11,211 | ​ |  | 37,260
Net income (loss) before taxes | ​ | $ | 2,869 | ​ | $ | 13,515 | ​ | $ | 7,173 | ​ | $ | 3 | ​ | $ | (12,018) | ​ | $ | 11,542
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine months ended September 30, 2023
​ | ​ | ​ | ​ | ​ | Retirement and | ​ | Wealth | ​ | ​ | ​ | ​ | Corporate | ​ | ​ | ​
(dollars in thousands) |  | Banking |  | Benefit Services |  | Management |  | Mortgage |  | Administration |  | Consolidated
Net interest income (loss) | ​ | $ | 67,650 | ​ | $ | — | ​ | $ | — | ​ | $ | 635 | ​ | $ | (1,998) | ​ | $ | 66,287
Provision for credit losses | ​ | ​ | 550 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 550
Noninterest income | ​ | ​ | 6,308 | ​ | ​ | 49,977 | ​ | ​ | 15,915 | ​ | ​ | 7,132 | ​ | ​ | 107 | ​ | ​ | 79,439
Intercompany revenue (expense) | ​ | ​ | (15,351) | ​ | ​ | 6,936 | ​ |  | 4,200 | ​ |  | 994 | ​ | ​ | 3,221 | ​ | ​ | —
Noninterest expense | ​ | ​ | 36,231 | ​ |  | 24,954 | ​ |  | 6,335 | ​ |  | 9,912 | ​ | ​ | 34,071 | ​ | ​ | 111,503
Net income (loss) before taxes | ​ | $ | 21,826 | ​ | $ | 31,959 | ​ | $ | 13,780 | ​ | $ | (1,151) | ​ | $ | (32,741) | ​ | $ | 33,673
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2022
​ | ​ | ​ | ​ | ​ | Retirement and | ​ | Wealth | ​ | ​ | ​ | ​ | Corporate | ​ | ​ | ​
(dollars in thousands) |  | Banking |  | Benefit Services |  | Management |  | Mortgage |  | Administration |  | Consolidated
Net interest income (loss) | ​ | $ | 28,512 | ​ | $ | — | ​ | $ | — | ​ | $ | 393 | ​ | $ | (589) | ​ | $ | 28,316
Provision for credit losses | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Noninterest income | ​ | ​ | 1,723 | ​ | ​ | 16,597 | ​ | ​ | 4,852 | ​ | ​ | 3,782 | ​ | ​ | 56 | ​ | ​ | 27,010
Intercompany revenue (expense) | ​ | ​ | (4,562) | ​ | ​ | 1,868 | ​ |  | (170) | ​ |  | 1,386 | ​ | ​ | 1,478 | ​ | ​ | —
Noninterest expense | ​ | ​ | 15,428 | ​ |  | 7,998 | ​ |  | 1,406 | ​ |  | 5,869 | ​ | ​ | 12,066 | ​ | ​ | 42,767
Net income (loss) before taxes | ​ | $ | 10,245 | ​ | $ | 10,467 | ​ | $ | 3,276 | ​ | $ | (308) | ​ | $ | (11,121) | ​ | $ | 12,559
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Nine months ended September 30, 2022
​ | ​ | ​ | ​ | ​ | Retirement and | ​ | Wealth | ​ | ​ | ​ | ​ | Corporate | ​ | ​ | ​
(dollars in thousands) |  | Banking |  | Benefit Services |  | Management |  | Mortgage |  | Administration |  | Consolidated
Net interest income (loss) | ​ | $ | 72,816 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,660 | ​ | $ | (1,711) | ​ | $ | 72,765
Provision for credit losses | ​ |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ |  | — | ​ |  | —
Noninterest income | ​ |  | 4,602 | ​ | ​ | 50,536 | ​ | ​ | 15,726 | ​ | ​ | 14,751 | ​ |  | 91 | ​ |  | 85,706
Intercompany revenue (expense) | ​ | ​ | (8,664) | ​ | ​ | 2,695 | ​ |  | (1,028) | ​ |  | 3,214 | ​ | ​ | 3,783 | ​ | ​ | —
Noninterest expense | ​ |  | 39,639 | ​ |  | 23,855 | ​ |  | 4,034 | ​ |  | 17,926 | ​ |  | 35,368 | ​ |  | 120,822
Net income (loss) before taxes | ​ | $ | 29,115 | ​ | $ | 29,376 | ​ | $ | 10,664 | ​ | $ | 1,699 | ​ | $ | (33,205) | ​ | $ | 37,649
​ Banking The Banking division offers a complete line of loan, deposit, cash management, and treasury services through fourteen offices in North Dakota, Minnesota, and Arizona. These products and services are supported through web and mobile based applications. The majority of the Company’s assets and liabilities are in the Banking segment’s balance sheet. Retirement and Benefit Services Retirement and Benefit Services provides the following services nationally: recordkeeping and administration services to qualified retirement plans; recordkeeping, and administration services to other types of retirement plans; investment fiduciary services to retirement plans; health savings accounts, flex spending accounts, and COBRA recordkeeping and administration services. The division operates within each of the banking markets, as well as in Lansing, Michigan and Littleton, Colorado. Wealth Management The Wealth Management division provides advisory and planning services, investment management, and trust and fiduciary services to clients across the Company’s footprint. Mortgage The Mortgage division offers first and second mortgage loans through a centralized mortgage unit in Minneapolis, Minnesota, as well as through the Banking office locations.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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