v3.24.1.1.u2

Segments | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segments | Segments The Company’s reportable segments represent business units with discrete financial information whose results are regularly reviewed by management. The four segments include Commercial Banking, Capital Bank Home Loans (the Company’s mortgage loan division), OpenSky™ (the Company’s credit card division) and the Corporate Office. Effective January 1, 2024, the Company allocated certain expenses previously recorded directly to the Commercial Bank segment to the other segments. These expenses are for shared services also consumed by OpenSky™, CBHL, and Corporate. The Company performs an allocation process based on several metrics the Company believes more accurately ascribe shared service overhead to each segment. The Company believes this reflects the cost of support for each segment that should be considered in assessing segment performance. Historical information has been recast to reflect financial information consistently with the 2024 presentation. The following schedule presents financial information for each reportable segment at March 31, 2024 and March 31, 2023.
For the Three Months Ended March 31, 2024 |  |  |  |  |  |  |  |
(in thousands) |  | Commercial Bank |  | CBHL |  | OpenSky™ |  | Corporate(2) |  | Eliminations |  | Consolidated
Interest income |  | $ | 32,529 |  |  | $ | 83 |  |  | $ | 14,921 |  |  | $ | 899 |  |  | $ | (63) |  |  | $ | 48,369 |
Interest expense |  | 13,154 |  |  | 41 |  |  | — |  |  | 229 |  |  | (63) |  |  | 13,361 |
Net interest income |  | 19,375 |  |  | 42 |  |  | 14,921 |  |  | 670 |  |  | — |  |  | 35,008 |
Provision for credit losses |  | 1,109 |  |  | — |  |  | 1,559 |  |  | 59 |  |  | — |  |  | 2,727 |
Provision for credit losses on unfunded commitments |  | 142 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 142 |
Net interest income after provision |  | 18,124 |  |  | 42 |  |  | 13,362 |  |  | 611 |  |  | — |  |  | 32,139 |
Noninterest income |  | 704 |  |  | 1,352 |  |  | 3,915 |  |  | 1 |  |  | — |  |  | 5,972 |
Noninterest expense(1) |  | 12,259 |  |  | 2,105 |  |  | 13,599 |  |  | 1,524 |  |  | — |  |  | 29,487 |
Net income (loss) before taxes |  | $ | 6,569 |  |  | $ | (711) |  |  | $ | 3,678 |  |  | $ | (912) |  |  | $ | — |  |  | $ | 8,624 |
Total assets |  | $ | 2,160,051 |  |  | $ | 10,785 |  |  | $ | 105,318 |  |  | $ | 281,766 |  |  | $ | (233,682) |  |  | $ | 2,324,238 |
For the Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 26,300 |  |  | $ | 77 |  |  | $ | 16,130 |  |  | $ | 978 |  |  | $ | (69) |  |  | $ | 43,416 |
Interest expense |  | 8,739 |  |  | 30 |  |  | — |  |  | 229 |  |  | (69) |  |  | 8,929 |
Net interest income |  | 17,561 |  |  | 47 |  |  | 16,130 |  |  | 749 |  |  | — |  |  | 34,487 |
(Release of) provision for credit losses |  | (161) |  |  | — |  |  | 1,821 |  |  | — |  |  | — |  |  | 1,660 |
Release of credit losses on unfunded commitments |  | (19) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (19) |
Net interest income after provision |  | 17,741 |  |  | 47 |  |  | 14,309 |  |  | 749 |  |  | — |  |  | 32,846 |
Noninterest income |  | 489 |  |  | 1,327 |  |  | 4,210 |  |  | — |  |  | — |  |  | 6,026 |
Noninterest expense(1) |  | 11,759 |  |  | 2,336 |  |  | 11,738 |  |  | 389 |  |  | — |  |  | 26,222 |
Net income (loss) before taxes |  | $ | 6,471 |  |  | $ | (962) |  |  | $ | 6,781 |  |  | $ | 360 |  |  | $ | — |  |  | $ | 12,650 |
Total assets |  | $ | 2,074,634 |  |  | $ | 10,193 |  |  | $ | 106,761 |  |  | $ | 257,048 |  |  | $ | (203,350) |  |  | $ | 2,245,286 |
(1) Noninterest expense includes $6.1 million and $5.9 million in data processing expense in OpenSky’s™ segment for the three months ended March 31, 2024 and 2023, respectively. (2) The Corporate segment invests idle cash in revenue producing assets including interest-bearing cash accounts, loan participations and other appropriate investments for the Company.

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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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