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Reportable Segments
 3 Months Ended
Mar. 31, 2022
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
March 31, 2022		     Three months ended
March 31, 2021		  
(dollars in thousands)   Commercial
and Retail
Banking		     Mortgage
Banking		     Corporate     Elimin-
ations		     Consol-
idated		     Commercial
and Retail
Banking		     Mortgage
Banking		     Corporate     Elimin-
ation		     Consol-
idated		  
Interest income   $ 24,234       230       5       (5 )     24,464       22,414       399       3       (3 )     22,813  
Interest expense     925      
-
       380       (5 )     1,300       1,161      
-
       382       (3 )     1,540  
Net interest income (loss)     23,309       230       (375 )    
-
       23,164       21,253       399       (379 )    
-
       21,273  
Provision (benefit) for credit losses     905       200      
-
      
-
       1,105       (300 )    
-
      
-
      
-
       (300 )
Noninterest income     1,433       1,494      
-
      
-
       2,927       1,271       4,633      
-
      
-
       5,904  
Noninterest expense     12,976       1,649       60      
-
       14,685       11,233       2,867       62      
-
       14,162  
Net income (loss) before taxes     10,861       (125 )     (435 )    
-
       10,301       11,591       2,165       (441 )    
-
       13,315  
Income tax provision (benefit)     2,450       (28 )     (91 )    
-
       2,331       2,564       478       (93 )    
-
       2,949  
Net income (loss)   $ 8,411       (97 )     (344 )    
-
       7,970       9,027       1,687       (348 )    
-
       10,366  
Total assets   $ 3,033,122       39,003       314,658       (314,143 )     3,072,640       2,516,869       62,530       275,941       (275,418 )     2,579,922  

 

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.