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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company is engaged primarily in providing a fully integrated suite of banking products and services consistently across all of its markets. The Company has identified the Executive Management Committee of the Bank as the Company’s CODM. The Executive Management Committee of the Bank is comprised of the Chief Executive Officer, Chief Financial Officer, Chief Banking Officer, Chief Operating Officer, Chief Credit Policy Officer, General Counsel, and several division heads that report directly to the Chief Executive Officer. The CODM assesses performance and decides how to allocate resources based on net income as reported in the accompanying consolidated statements of income. While the CODM monitors the revenue streams of the various banking products, services, and markets, banking operations are managed and financial performance is evaluated on a company-wide basis. Accordingly, all of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment. The Company’s banking operations accounting policies are the same as those described in “Note 1. Significant Accounting Policies.” Segment assets are reported in the accompanying consolidated balance sheets in total assets. The CODM uses net income and assets in deciding whether to reinvest profits into banking products, services, and markets or into other Company priorities like dividends, share repurchases, or acquisitions. Actual net income and assets are compared to budgeted metrics to assist in operating and financial decisions and future activities. Financial results for the banking operations segment are presented in the table below:
| As of and for the Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Interest and dividend income | $ | 137,230 |  |  | $ | 118,568 |  |  | $ | 94,375 |
Interest expense | 47,936 |  |  | 32,130 |  |  | 7,736 |
Provision for credit losses | 1,200 |  |  | 735 |  |  | 1,750 |
Noninterest income | 20,441 |  |  | 21,114 |  |  | 18,747 |
Depreciation and amortization | 3,219 |  |  | 2,746 |  |  | 2,609 |
Other operating expenses | 62,935 |  |  | 61,127 |  |  | 56,046 |
Income before income tax expense | 42,381 |  |  | 42,944 |  |  | 44,981 |
Income tax expense | 8,146 |  |  | 8,065 |  |  | 8,065 |
Segment net income | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
Adjustments and reconciling items | — |  |  | — |  |  | — |
Consolidated net income | $ | 34,235 |  |  | $ | 34,879 |  |  | $ | 36,916 |
Total Assets | $ | 3,149,594 |  |  | $ | 3,128,810 |  |  | $ | 3,082,686 |

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