XML 49 R31.htm IDEA: XBRL DOCUMENT v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Segment Revenue, Profit or Loss, Significant Segment Expenses and Other Segment Items
Segment revenue, profit or loss, significant segment expenses and other segment items
December 31, 2024December 31, 2023December 31, 2022
(in thousands)
Community banking segment:
Interest income
$141,273 $139,494 $130,041 
Non-interest income
(23,780)2,844 8,678 
Reconciliation of income
All other income1
2,420 2,145 2,227 
Total consolidated income
119,913 144,483 140,946 
Less:2
Total interest expense46,613 36,733 2,549 
Provision for (reversal of) credit losses on loans
5,550 2,575 (63)
Reversal of credit losses on unfunded loan commitments(233)(342)(318)
Non-interest expense
Salaries and employee benefits43,794 42,671 41,235 
Occupancy and equipment8,240 8,304 7,819 
Professional services4,562 3,086 2,688 
Data processing4,032 3,879 4,480 
Deposit network fees3,526 2,783 258 
Federal Deposit Insurance Corporation insurance1,863 1,878 1,179 
Information technology1,686 1,569 2,197 
Depreciation and amortization1,465 2,097 1,839 
Directors' expense1,213 1,212 1,107 
Amortization of core deposit intangible975 1,350 1,489 
Charitable contributions677 717 709 
Other real estate owned— 48 359 
Other expense8,068 8,357 8,255 
Segment (loss) income
(12,118)27,566 65,164 
Reconciliation of segment (loss) income
All other loss1
(1,717)(1,530)(1,655)
Loss before income taxes
$(13,835)$26,036 $63,509 
1Other income and loss from segment below the quantitative thresholds are attributable to one operating segment of the Bank, the Wealth Management and Trust Services, which does not meet the quantitative thresholds for presenting reportable segments. Expenses of Wealth Management and Trust Services are comprised of salary and employee benefits, professional services, data processing, occupancy and equipment and other expenses totaling $1.7 million.
2The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense At December 31, 2024, the future estimated amortization expense for the CDI arising from our past acquisitions was as follows:
(in thousands)20252026202720282029ThereafterTotal
Core deposit intangible amortization$875 $773 $634 $242 $165 $103 $2,792 
Schedule of Earnings Per Share Reconciliation The following table shows: 1) weighted average basic shares, 2) potentially dilutive weighted average common shares related to stock options and unvested restricted stock awards, and 3) weighted average diluted shares. Basic EPS are calculated by dividing net income by the weighted average number of common shares outstanding during each annual period, excluding unvested restricted stock awards. Diluted EPS are calculated using the weighted average number of potentially dilutive common shares. The number of potentially dilutive common shares included in year-to-date diluted EPS is a year-to-date weighted average of potentially dilutive common shares included in each quarterly diluted EPS computation. In computing diluted EPS, we exclude anti-dilutive shares such as options whose exercise prices exceed the current common stock price, as they would not reduce EPS under the treasury stock method. We have two forms of outstanding common stock: common stock and unvested restricted stock awards. Holders of unvested restricted stock awards receive non-forfeitable dividends at the same rate as common shareholders and they both share equally in undistributed earnings. Under the two-class method, the difference in EPS is nominal for these participating securities.
(in thousands, except per share data)202420232022
Weighted average basic common shares outstanding16,042 16,012 15,921 
Potentially dilutive common shares related to:
Stock options— 3 31 
Unvested restricted stock awards— 11 17 
Weighted average diluted common shares outstanding16,042 16,026 15,969 
Net income$(8,409)$19,895 $46,586 
Basic EPS$(0.52)$1.24 $2.93 
Diluted EPS$(0.52)$1.24 $2.92 
Weighted average anti-dilutive common shares not included in the calculation of diluted EPS368 364 211