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Segment Reporting | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | Note 13 – Segment Reporting We have identified three reportable segments: CoRe banking; mortgage banking; and financial holding company. All other operating segments are summarized in an other category. Revenue from CoRe banking activities consists primarily of interest earned on loans and investment securities and service charges on deposit accounts. Our Fintech division is included in the CoRe banking segment. Revenue from our mortgage banking segment is primarily comprised of our share of net income or loss from mortgage banking activities of our equity method investments in ICM and Warp Speed. Revenue from financial holding company activities is mainly comprised of intercompany service income and dividends. The following tables present information about the reportable segments and reconciliation to the consolidated financial statements for the periods shown:
Three Months Ended June 30, 2023 |  | CoRe Banking |  | Mortgage Banking |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |
Interest income |  | $ | 46,929 |  |  | $ | 105 |  |  | $ | 3 |  |  | $ | 6 |  |  | $ | (12) |  |  | $ | 47,031 |
Interest expense |  | 16,439 |  |  | — |  |  | 999 |  |  | 23 |  |  | (12) |  |  | 17,449 |
Net interest income (expense) |  | 30,490 |  |  | 105 |  |  | (996) |  |  | (17) |  |  | — |  |  | 29,582 |
Release of allowance for credit losses |  | (4,235) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,235) |
Net interest income (expense) after release of allowance for credit losses |  | 34,725 |  |  | 105 |  |  | (996) |  |  | (17) |  |  | — |  |  | 33,817 |
Noninterest income |  | 4,113 |  |  | 1,872 |  |  | 3,116 |  |  | 1,051 |  |  | (3,733) |  |  | 6,419 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 9,053 |  |  | 7 |  |  | 4,623 |  |  | 2,063 |  |  | — |  |  | 15,746 |
Other expenses |  | 14,148 |  |  | 18 |  |  | 2,163 |  |  | 1,940 |  |  | (3,733) |  |  | 14,536 |
Total noninterest expenses |  | 23,201 |  |  | 25 |  |  | 6,786 |  |  | 4,003 |  |  | (3,733) |  |  | 30,282 |
Income (loss) before income taxes |  | 15,637 |  |  | 1,952 |  |  | (4,666) |  |  | (2,969) |  |  | — |  |  | 9,954 |
Income taxes |  | 3,237 |  |  | 643 |  |  | (1,207) |  |  | (717) |  |  | — |  |  | 1,956 |
Net income (loss) |  | 12,400 |  |  | 1,309 |  |  | (3,459) |  |  | (2,252) |  |  | — |  |  | 7,998 |
Net loss attributable to noncontrolling interest |  | — |  |  | — |  |  | — |  |  | 114 |  |  | — |  |  | 114 |
Net income (loss) available to common shareholders |  | $ | 12,400 |  |  | $ | 1,309 |  |  | $ | (3,459) |  |  | $ | (2,138) |  |  | $ | — |  |  | $ | 8,112 |
Capital expenditures for the three months ended June 30, 2023 |  | $ | 155 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,561 |  |  | $ | — |  |  | $ | 1,716 |
Total assets as of June 30, 2023 |  | $ | 3,295,564 |  |  | $ | 85,563 |  |  | $ | 335,193 |  |  | $ | 20,871 |  |  | $ | (385,344) |  |  | $ | 3,351,847 |
Total assets as of December 31, 2022 |  | $ | 3,014,475 |  |  | $ | 34,248 |  |  | $ | 375,171 |  |  | $ | 27,075 |  |  | $ | (382,119) |  |  | $ | 3,068,850 |
Goodwill as of June 30, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,838 |  |  | $ | — |  |  | $ | 2,838 |
Goodwill as of December 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,838 |  |  | $ | — |  |  | $ | 2,838 |
Three Months Ended June 30, 2022 |  | CoRe Banking |  | Mortgage Banking |  |  |  |  |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |  |  |
Interest income |  | $ | 27,910 |  |  | $ | 103 |  |  |  |  |  |  | $ | 87 |  |  | $ | — |  |  | $ | (10) |  |  | $ | 28,090 |
Interest expense |  | 672 |  |  | — |  |  |  |  |  |  | 760 |  |  | 8 |  |  | (10) |  |  | 1,430 |
Net interest income (expense) |  | 27,238 |  |  | 103 |  |  |  |  |  |  | (673) |  |  | (8) |  |  | — |  |  | 26,660 |
Release of allowance for loan losses |  | 5,100 |  |  | — |  |  |  |  |  |  | — |  |  |  |  | — |  |  | 5,100 |
Net interest income (expense) after release of allowance for credit losses |  | 22,138 |  |  | 103 |  |  |  |  |  |  | (673) |  |  | (8) |  |  | — |  |  | 21,560 |
Noninterest income |  | 7,093 |  |  | 787 |  |  |  |  |  |  | 3,228 |  |  | 1,584 |  |  | (3,308) |  |  | 9,384 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 9,948 |  |  | — |  |  |  |  |  |  | 4,439 |  |  | 2,198 |  |  | — |  |  | 16,585 |
Other expenses |  | 10,913 |  |  | 94 |  |  |  |  |  |  | 2,247 |  |  | 1,441 |  |  | (3,308) |  |  | 11,387 |
Total noninterest expenses |  | 20,861 |  |  | 94 |  |  |  |  |  |  | 6,686 |  |  | 3,639 |  |  | (3,308) |  |  | 27,972 |
Income (loss) before income taxes |  | 8,370 |  |  | 796 |  |  |  |  |  |  | (4,131) |  |  | (2,063) |  |  | — |  |  | 2,972 |
Income taxes |  | 1,771 |  |  | 207 |  |  |  |  |  |  | (815) |  |  | (464) |  |  | — |  |  | 699 |
Net income (loss) from continuing operations |  | 6,599 |  |  | 589 |  |  |  |  |  |  | (3,316) |  |  | (1,599) |  |  | — |  |  | 2,273 |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 678 |  |  | — |  |  | 678 |
Income taxes - discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 160 |  |  | — |  |  | 160 |
Net income from discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 518 |  |  | — |  |  | 518 |
Net income (loss) |  | 6,599 |  |  | 589 |  |  |  |  |  |  | (3,316) |  |  | (1,081) |  |  | — |  |  | 2,791 |
Net loss attributable to noncontrolling interest |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 165 |  |  | — |  |  | 165 |
Net income (loss) available to common shareholders |  | $ | 6,599 |  |  | $ | 589 |  |  |  |  |  |  | $ | (3,316) |  |  | $ | (916) |  |  | $ | — |  |  | $ | 2,956 |
Capital expenditures for the three months ended June 30, 2022 |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 47 |  |  | $ | 834 |  |  | $ | — |  |  | $ | 881 |
Six Months Ended June 30, 2023 |  | CoRe Banking |  | Mortgage Banking |  |  |  |  |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |  |  |  |
Interest income |  | $ | 91,591 |  |  | $ | 210 |  |  |  |  |  |  | $ | 36 |  |  | $ | — |  |  | $ | (43) |  |  | $ | 91,794 |
Interest expense |  | 27,480 |  |  | — |  |  |  |  |  |  | 1,992 |  |  | 54 |  |  | (43) |  |  | 29,483 |
Net interest income (expense) |  | 64,111 |  |  | 210 |  |  |  |  |  |  | (1,956) |  |  | (54) |  |  | — |  |  | 62,311 |
Provision for credit losses |  | 341 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 341 |
Net interest income (expense) after provision for credit losses |  | 63,770 |  |  | 210 |  |  |  |  |  |  | (1,956) |  |  | (54) |  |  | — |  |  | 61,970 |
Noninterest income |  | 7,131 |  |  | 686 |  |  |  |  |  |  | 5,526 |  |  | 2,835 |  |  | (6,692) |  |  | 9,486 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 18,104 |  |  | 7 |  |  |  |  |  |  | 9,573 |  |  | 4,808 |  |  | — |  |  | 32,492 |
Other expenses |  | 25,202 |  |  | 52 |  |  |  |  |  |  | 4,080 |  |  | 3,465 |  |  | (6,692) |  |  | 26,107 |
Total noninterest expenses |  | 43,306 |  |  | 59 |  |  |  |  |  |  | 13,653 |  |  | 8,273 |  |  | (6,692) |  |  | 58,599 |
Income (loss) before income taxes |  | 27,595 |  |  | 837 |  |  |  |  |  |  | (10,083) |  |  | (5,492) |  |  | — |  |  | 12,857 |
Income taxes |  | 5,752 |  |  | 139 |  |  |  |  |  |  | (2,149) |  |  | (1,321) |  |  | — |  |  | 2,421 |
Net income (loss) from continuing operations |  | 21,843 |  |  | 698 |  |  |  |  |  |  | (7,934) |  |  | (4,171) |  |  | — |  |  | 10,436 |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 11,831 |  |  | — |  |  | 11,831 |
Income taxes - discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 3,049 |  |  | — |  |  | 3,049 |
Net income from discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 8,782 |  |  | — |  |  | 8,782 |
Net income (loss) |  | 21,843 |  |  | 698 |  |  |  |  |  |  | (7,934) |  |  | 4,611 |  |  | — |  |  | 19,218 |
Net loss attributable to noncontrolling interest |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 236 |  |  | — |  |  | 236 |
Net income (loss) available to common shareholders |  | $ | 21,843 |  |  | $ | 698 |  |  |  |  |  |  | $ | (7,934) |  |  | $ | 4,847 |  |  | $ | — |  |  | $ | 19,454 |
Capital expenditures for the six months ended June 30, 2023 |  | $ | 492 |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  | $ | 2,155 |  |  | $ | — |  |  | $ | 2,647 |
Six Months Ended June 30, 2022 |  | CoRe Banking |  | Mortgage Banking |  |  |  |  |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |  |  |  |
Interest income |  | $ | 51,081 |  |  | $ | 206 |  |  |  |  |  |  | $ | 80 |  |  | $ | — |  |  | $ | (15) |  |  | $ | 51,352 |
Interest expense |  | 1,331 |  |  | — |  |  |  |  |  |  | 1,513 |  |  | 15 |  |  | (15) |  |  | 2,844 |
Net interest income (expense) |  | 49,750 |  |  | 206 |  |  |  |  |  |  | (1,433) |  |  | (15) |  |  | — |  |  | 48,508 |
Provision for credit losses |  | 6,380 |  |  | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 6,380 |
Net interest income (expense) after provision for credit losses |  | 43,370 |  |  | 206 |  |  |  |  |  |  | (1,433) |  |  | (15) |  |  | — |  |  | 42,128 |
Noninterest income |  | 13,991 |  |  | 2,010 |  |  |  |  |  |  | 5,899 |  |  | 3,120 |  |  | (6,357) |  |  | 18,663 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 19,456 |  |  | — |  |  |  |  |  |  | 8,495 |  |  | 4,361 |  |  | — |  |  | 32,312 |
Other expenses |  | 21,961 |  |  | 94 |  |  |  |  |  |  | 4,452 |  |  | 2,767 |  |  | (6,357) |  |  | 22,917 |
Total noninterest expenses |  | 41,417 |  |  | 94 |  |  |  |  |  |  | 12,947 |  |  | 7,128 |  |  | (6,357) |  |  | 55,229 |
Income (loss) before income taxes |  | 15,944 |  |  | 2,122 |  |  |  |  |  |  | (8,481) |  |  | (4,023) |  |  | — |  |  | 5,562 |
Income taxes |  | 3,402 |  |  | 548 |  |  |  |  |  |  | (1,684) |  |  | (887) |  |  | — |  |  | 1,379 |
Net income (loss) from continuing operations |  | 12,542 |  |  | 1,574 |  |  |  |  |  |  | (6,797) |  |  | (3,136) |  |  | — |  |  | 4,183 |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 1,664 |  |  | — |  |  | 1,664 |
Income taxes - discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 385 |  |  | — |  |  | 385 |
Net income from discontinued operations |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 1,279 |  |  | — |  |  | 1,279 |
Net income (loss) before noncontrolling interest |  | 12,542 |  |  | 1,574 |  |  |  |  |  |  | (6,797) |  |  | (1,857) |  |  | — |  |  | 5,462 |
Net loss attributable to noncontrolling interest |  | — |  |  | — |  |  |  |  |  |  | — |  |  | 358 |  |  | — |  |  | 358 |
Net income (loss) available to common shareholders |  | $ | 12,542 |  |  | $ | 1,574 |  |  |  |  |  |  | $ | (6,797) |  |  | $ | (1,499) |  |  | $ | — |  |  | $ | 5,820 |
Capital expenditures for the six months ended June 30, 2022 |  | $ | 250 |  |  | $ | — |  |  |  |  |  |  | $ | 385 |  |  | $ | 1,474 |  |  | $ | — |  |  | $ | 2,109 |

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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