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Reportable Segments
 3 Months Ended
Mar. 31, 2021
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

March 31, 2021

March 31, 2020

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

$

22,414

399

3

(3

)

22,813

$

23,670

196

4

(4

)

23,866

Interest expense

1,161

-

382

(3

)

1,540

5,333

-

439

(4

)

5,768

Net interest income (loss)

21,253

399

(379

)

-

21,273

18,337

196

(435

)

-

18,098

Provision for loan losses

(300

)

-

-

-

(300

)

6,000

-

-

-

6,000

Noninterest income

1,271

4,633

-

-

5,904

1,248

2,668

-

-

3,916

Noninterest expense

11,233

2,867

62

-

14,162

10,499

1,807

66

-

12,372

Net income (loss) before taxes

11,591

2,165

(441

)

-

13,315

3,086

1,057

(501

)

-

3,642

Income tax provision (benefit)

2,564

478

(93

)

-

2,949

693

222

(105

)

-

810

Net income (loss)

$

9,027

1,687

(348

)

-

10,366

$

2,393

835

(396

)

-

2,832

Total assets

$

2,516,869

62,530

275,941

(275,418

)

2,579,922

$

2,335,160

36,577

246,424

(245,912

)

2,372,249

25

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.