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Note 17 - Segment Reporting | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 17 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 currently operates through three operating segments: Banking, Retirement and Benefit Services, and Wealth Management. In prior periods, the Company had a fourth operating segment, Mortgage. As of January 1, 2024, the Mortgage division was fully integrated into the Banking division by the Company to reflect the way the Company currently manages and views the business. The Company has restated all historical periods presented within these financial statements, and has not included the Mortgage operating segment. The financial information presented for each segment includes net interest income, provision for credit losses, noninterest income, and direct and indirect noninterest expense. Corporate Administration includes all remaining income and expenses not allocated to the three operating segments. The following tables present key metrics related to the Company’s segments for the periods presented:
|  | As of and for the three months ended September 30, 2024 |
|  |  |  |  |  | Retirement and |  |  | Wealth |  |  | Corporate |  |  |  |  |
(dollars in thousands) |  | Banking |  |  | Benefit Services |  |  | Management |  |  | Administration |  |  | Consolidated |
Net interest income (loss) |  | $ | 23,220 |  |  | $ | — |  |  | $ | — |  |  | $ | (678 | ) |  | $ | 22,542 |
Provision for credit losses |  |  | 1,661 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,661 |
Noninterest income (loss) |  |  | 4,940 |  |  |  | 16,144 |  |  |  | 6,684 |  |  |  | 595 |  |  |  | 28,363 |
Noninterest expense |  |  | 20,269 |  |  |  | 14,154 |  |  |  | 3,838 |  |  |  | 4,186 |  |  |  | 42,447 |
Net income (loss) before taxes |  | $ | 6,230 |  |  | $ | 1,990 |  |  | $ | 2,846 |  |  | $ | (4,269 | ) |  | $ | 6,797 |
Total assets |  | $ | 4,009,535 |  |  | $ | 32,882 |  |  | $ | 5,288 |  |  | $ | 36,935 |  |  | $ | 4,084,640 |
|  | As of and for the nine months ended September 30, 2024 |
|  |  |  |  |  | Retirement and |  |  | Wealth |  |  | Corporate |  |  |  |  |
(dollars in thousands) |  | Banking |  |  | Benefit Services |  |  | Management |  |  | Administration |  |  | Consolidated |
Net interest income (loss) |  | $ | 70,803 |  |  | $ | — |  |  | $ | — |  |  | $ | (2,042 | ) |  | $ | 68,761 |
Provision for credit losses |  |  | 6,150 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,150 |
Noninterest income (loss) |  |  | 13,428 |  |  |  | 47,876 |  |  |  | 19,161 |  |  |  | 592 |  |  |  | 81,057 |
Noninterest expense |  |  | 57,837 |  |  |  | 41,757 |  |  |  | 11,494 |  |  |  | 9,130 |  |  |  | 120,218 |
Net income (loss) before taxes |  | $ | 20,244 |  |  | $ | 6,119 |  |  | $ | 7,667 |  |  | $ | (10,580 | ) |  | $ | 23,450 |
Total assets |  | $ | 4,009,535 |  |  | $ | 32,882 |  |  | $ | 5,288 |  |  | $ | 36,935 |  |  | $ | 4,084,640 |
|  | As of and for the three months ended September 30, 2023 |
|  |  |  |  |  | Retirement and |  |  | Wealth |  |  | Corporate |  |  |  |  |
(dollars in thousands) |  | Banking |  |  | Benefit Services |  |  | Management |  |  | Administration |  |  | Consolidated |
Net interest income (loss) |  | $ | 21,073 |  |  | $ | — |  |  | $ | — |  |  | $ | (678 | ) |  | $ | 20,395 |
Provision for credit losses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Noninterest income |  |  | 4,660 |  |  |  | 18,605 |  |  |  | 5,271 |  |  |  | (129 | ) |  |  | 28,407 |
Noninterest expense |  |  | 18,881 |  |  |  | 13,269 |  |  |  | 3,351 |  |  |  | 1,759 |  |  |  | 37,260 |
Net income (loss) before taxes |  | $ | 6,852 |  |  | $ | 5,336 |  |  | $ | 1,920 |  |  | $ | (2,566 | ) |  | $ | 11,542 |
Total assets |  | $ | 3,801,230 |  |  | $ | 36,114 |  |  | $ | 4,224 |  |  | $ | (8,590 | ) |  | $ | 3,832,978 |
|  | As of and for the nine months ended September 30, 2023 |
|  |  |  |  |  | Retirement and |  |  | Wealth |  |  | Corporate |  |  |  |  |
(dollars in thousands) |  | Banking |  |  | Benefit Services |  |  | Management |  |  | Administration |  |  | Consolidated |
Net interest income (loss) |  | $ | 68,285 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,998 | ) |  | $ | 66,287 |
Provision for credit losses |  |  | 550 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 550 |
Noninterest income |  |  | 13,440 |  |  |  | 49,977 |  |  |  | 15,915 |  |  |  | 107 |  |  |  | 79,439 |
Noninterest expense |  |  | 56,832 |  |  |  | 39,515 |  |  |  | 9,703 |  |  |  | 5,453 |  |  |  | 111,503 |
Net income (loss) before taxes |  | $ | 24,343 |  |  | $ | 10,462 |  |  | $ | 6,212 |  |  | $ | (7,344 | ) |  | $ | 33,673 |
Total assets |  | $ | 3,801,230 |  |  | $ | 36,114 |  |  | $ | 4,224 |  |  | $ | (8,590 | ) |  | $ | 3,832,978 |
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. After the closing of the HMNF acquisition, the Company added 15 banking offices in Minnesota, Wisconsin, and Iowa. 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 The Retirement and Benefit Services division provides the following services nationally: record-keeping and administration services to qualified and other types of retirement plans, investment fiduciary services to retirement plans, health savings accounts, flexible spending accounts, and COBRA recordkeeping and administration services. 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.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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