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Reportable Segments | 6 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Reportable Segments | NOTE 10 – Reportable Segments The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning purposes by management. The three segments include Commercial and Retail Banking, Mortgage Banking, and Corporate. The following schedule presents financial information for each reportable segment.
|  | Three months ended |  | Three months ended
|  | June 30, 2020 |  | June 30, 2019
|  | Commercial |  |  |  |  |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |
|  | and Retail |  | Mortgage |  |  |  |  | Elimin- |  | Consol- |  | and Retail |  | Mortgage |  |  |  |  | Elimin- |  | Consol-
(dollars in thousands) |  | Banking |  | Banking |  | Corporate |  | ations |  | idated |  | Banking |  | Banking |  | Corporate |  | ation |  | idated
Interest income |  | $ | 23,709 |  | 282 |  | 6 |  |  | (6 | ) |  | 23,991 |  | $ | 22,933 |  | 155 |  | 3 |  |  | (3 | ) |  | 23,088
Interest expense |  |  | 3,723 |  | - |  | 500 |  |  | (6 | ) |  | 4,217 |  |  | 6,391 |  | - |  | 161 |  |  | (3 | ) |  | 6,549
Net interest income (loss) |  |  | 19,986 |  | 282 |  | (494 | ) |  | - |  |  | 19,774 |  |  | 16,542 |  | 155 |  | (158 | ) |  | - |  |  | 16,539
Provision for loan losses |  |  | 10,200 |  | - |  | - |  |  | - |  |  | 10,200 |  |  | 300 |  | - |  | - |  |  | - |  |  | 300
Noninterest income |  |  | 3,431 |  | 5,776 |  | - |  |  | - |  |  | 9,207 |  |  | 1,260 |  | 2,830 |  | - |  |  | - |  |  | 4,090
Noninterest expense |  |  | 10,191 |  | 2,368 |  | 85 |  |  | - |  |  | 12,644 |  |  | 9,609 |  | 1,699 |  | 60 |  |  | - |  |  | 11,368
Net income (loss) before taxes |  |  | 3,026 |  | 3,690 |  | (579 | ) |  | - |  |  | 6,137 |  |  | 7,893 |  | 1,286 |  | (218 | ) |  | - |  |  | 8,961
Income tax provision (benefit) |  |  | 728 |  | 775 |  | (44 | ) |  | - |  |  | 1,459 |  |  | 1,498 |  | 270 |  | (47 | ) |  | - |  |  | 1,721
Net income (loss) |  | $ | 2,298 |  | 2,915 |  | (535 | ) |  | - |  |  | 4,678 |  | $ | 6,395 |  | 1,016 |  | (171 | ) |  | - |  |  | 7,240
Total assets |  | $ | 2,435,095 |  | 46,645 |  | 252,371 |  |  | (251,816 | ) |  | 2,482,295 |  | $ | 2,103,085 |  | 12,497 |  | 203,335 |  |  | (202,873 | ) |  | 2,116,044
25
|  | Six months ended |  | Six months ended
|  | June 30, 2020 |  | June 30, 2019
|  | Commercial |  |  |  |  |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |
|  | and Retail |  | Mortgage |  |  |  |  | Elimin- |  | Consol- |  | and Retail |  | Mortgage |  |  |  |  | Elimin- |  | Consol-
(dollars in thousands) |  | Banking |  | Banking |  | Corporate |  | ations |  | idated |  | Banking |  | Banking |  | Corporate |  | ation |  | idated
Interest income |  | $ | 47,378 |  | 478 |  | 10 |  |  | (10 | ) |  | 47,856 |  | $ | 44,453 |  | 247 |  | 6 |  |  | (6 | ) |  | 44,700
Interest expense |  |  | 9,057 |  | - |  | 939 |  |  | (10 | ) |  | 9,986 |  |  | 12,023 |  | - |  | 326 |  |  | (6 | ) |  | 12,343
Net interest income (loss) |  |  | 38,321 |  | 478 |  | (929 | ) |  | - |  |  | 37,870 |  |  | 32,430 |  | 247 |  | (320 | ) |  | - |  |  | 32,357
Provision for loan losses |  |  | 16,200 |  | - |  | - |  |  | - |  |  | 16,200 |  |  | 600 |  | - |  | - |  |  | - |  |  | 600
Noninterest income |  |  | 4,681 |  | 8,444 |  | - |  |  | - |  |  | 13,125 |  |  | 2,397 |  | 4,687 |  | - |  |  | - |  |  | 7,084
Noninterest expense |  |  | 20,690 |  | 4,175 |  | 151 |  |  | - |  |  | 25,016 |  |  | 19,075 |  | 2,821 |  | 120 |  |  | - |  |  | 22,016
Net income before taxes |  |  | 6,112 |  | 4,747 |  | (1,080 | ) |  | - |  |  | 9,779 |  |  | 15,152 |  | 2,113 |  | (440 | ) |  | - |  |  | 16,825
Income tax provision (benefit) |  |  | 1,499 |  | 997 |  | (227 | ) |  | - |  |  | 2,269 |  |  | 3,225 |  | 444 |  | (93 | ) |  | - |  |  | 3,576
Net income (loss) |  | $ | 4,613 |  | 3,750 |  | (853 | ) |  | - |  |  | 7,510 |  | $ | 11,927 |  | 1,669 |  | (347 | ) |  | - |  |  | 13,249
Total assets |  | $ | 2,435,095 |  | 46,645 |  | 252,371 |  |  | (251,816 | ) |  | 2,482,295 |  | $ | 2,103,085 |  | 12,497 |  | 203,335 |  |  | (202,873 | ) |  | 2,116,044
Commercial and retail banking. The Company’s primary business is to provide traditional deposit and lending products and services to its commercial and retail banking clients. Mortgage banking. The mortgage banking segment provides mortgage loan origination services for loans that will be sold in the secondary market to investors. Corporate. Corporate is comprised primarily of compensation and benefits for certain members of management and interest on parent company debt.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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