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Segment Reporting | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting | (15.) SEGMENT REPORTING The Company has one reportable segment, Banking, which includes all the Company’s retail and commercial banking operations. This reportable segment has been identified and organized based on the nature of the underlying products and services applicable to the segment, the type of customers to whom those products and services are offered and the distribution channel through which those products and services are made available. All other segments that do not meet the quantitative threshold for separate reporting have been grouped as “All Other,” which include the activities of SDN and Courier Capital for the period ending December 31, 2023. On April 1, 2024, the Company announced and closed on the sale of the assets of its wholly owned subsidiary, SDN. See Note 1. Basis of Presentation and Summary of Significant Accounting Policies for further details on the sale of SDN. Courier Capital is our investment advisor and wealth management firm that offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Also included in “All Other” are Holding Company amounts, which are the primary differences between segment amounts and consolidated totals, along with amounts to eliminate balances and transactions between segments. The following tables present information regarding our business segments as of and for the periods indicated (in thousands).
|  | Banking |  |  | All Other |  |  | Consolidated Totals |
June 30, 2024 |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 48,536 |  |  | $ | 9,585 |  |  | $ | 58,121 |
Other intangible assets, net |  |  | — |  |  |  | 2,858 |  |  |  | 2,858 |
Total assets |  |  | 6,103,534 |  |  |  | 28,238 |  |  |  | 6,131,772 |
December 31, 2023 |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 48,536 |  |  | $ | 18,535 |  |  | $ | 67,071 |
Other intangible assets, net |  |  | — |  |  |  | 5,433 |  |  |  | 5,433 |
Total assets |  |  | 6,117,748 |  |  |  | 43,133 |  |  |  | 6,160,881 |
|  | Banking |  |  | All Other |  |  | Consolidated Totals |
Three months ended June 30, 2024 |  |  |  |  |  |  |  |  |
Net interest income (expense) |  | $ | 42,255 |  |  | $ | (1,062 | ) |  | $ | 41,193 |
Provision for credit losses |  |  | (2,041 | ) |  |  | — |  |  |  | (2,041 | )
Noninterest income |  |  | 7,989 |  |  |  | 16,025 |  |  |  | 24,014 |
Noninterest expense |  |  | (30,418 | ) |  |  | (2,602 | ) |  |  | (33,020 | )
Income before income taxes |  |  | 17,785 |  |  |  | 12,361 |  |  |  | 30,146 |
Income tax expense |  |  | (1,289 | ) |  |  | (3,228 | ) |  |  | (4,517 | )
Net income |  | $ | 16,496 |  |  | $ | 9,133 |  |  | $ | 25,629 |
Six months ended June 30, 2024 |  |  |  |  |  |  |  |  |
Net interest income (expense) |  | $ | 83,396 |  |  | $ | (2,121 | ) |  | $ | 81,275 |
Benefit for credit losses |  |  | 3,415 |  |  |  | — |  |  |  | 3,415 |
Noninterest income |  |  | 14,485 |  |  |  | 20,430 |  |  |  | 34,915 |
Noninterest expense |  |  | (80,135 | ) |  |  | (6,898 | ) |  |  | (87,033 | )
Income before income taxes |  |  | 21,161 |  |  |  | 11,411 |  |  |  | 32,572 |
Income tax expense |  |  | (1,744 | ) |  |  | (3,129 | ) |  |  | (4,873 | )
Net income |  | $ | 19,417 |  |  | $ | 8,282 |  |  | $ | 27,699 |
(15.) SEGMENT REPORTING (Continued)
|  | Banking |  |  | All Other |  |  | Consolidated Totals |
Three months ended June 30, 2023 |  |  |  |  |  |  |  |  |
Net interest income (expense) |  | $ | 43,397 |  |  | $ | (1,060 | ) |  | $ | 42,337 |
Provision for credit losses |  |  | (3,230 | ) |  |  | — |  |  |  | (3,230 | )
Noninterest income |  |  | 7,498 |  |  |  | 3,968 |  |  |  | 11,466 |
Noninterest expense |  |  | (29,971 | ) |  |  | (3,811 | ) |  |  | (33,782 | )
Income (loss) before income taxes |  | $ | 17,694 |  |  | $ | (903 | ) |  | $ | 16,791 |
Income tax (expense) benefit |  |  | (2,879 | ) |  |  | 461 |  |  |  | (2,418 | )
Net income (loss) |  | $ | 14,815 |  |  | $ | (442 | ) |  | $ | 14,373 |
Six months ended June 30, 2023 |  |  |  |  |  |  |  |  |
Net interest income (expense) |  | $ | 86,272 |  |  | $ | (2,120 | ) |  | $ | 84,152 |
Provision for credit losses |  |  | (7,444 | ) |  |  | — |  |  |  | (7,444 | )
Noninterest income |  |  | 13,873 |  |  |  | 8,517 |  |  |  | 22,390 |
Noninterest expense |  |  | (59,744 | ) |  |  | (7,699 | ) |  |  | (67,443 | )
Income (loss) before income taxes |  | $ | 32,957 |  |  | $ | (1,302 | ) |  | $ | 31,655 |
Income tax (expense) benefit |  |  | (5,509 | ) |  |  | 316 |  |  |  | (5,193 | )
Net income |  | $ | 27,448 |  |  | $ | (986 | ) |  | $ | 26,462 |

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- Definition The entire disclosure for reporting segments including data and tables. 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