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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Information About the Reportable Segments and Reconciliation to the Consolidated Financial Statements

The following tables present information about the reportable segments and reconciliation to the consolidated financial statements for the periods shown:

Three Months Ended September 30, 2023						CoRe Banking						Mortgage Banking						Financial Holding Company						Other						Intercompany Eliminations						Consolidated
(Dollars in thousands)
Interest income						$	48,268					$	103					$	2					$	—					$	(48)					$	48,325
Interest expense						17,454						—						1,000						54						(48)						18,460
Net interest income (expense)						30,814						103						(998)						(54)						—						29,865
Release of allowance for credit losses						(159)						—						—						—						—						(159)
Net interest income (expense) after release of allowance for credit losses						30,973						103						(998)						(54)						—						30,024
Noninterest income						4,980						(742)						2,576						3,099						(4,122)						5,791
Noninterest Expenses:
Salaries and employee benefits						9,787						—						4,129						2,100						—						16,016
Other expenses						14,701						13						1,992						2,125						(4,122)						14,709
Total noninterest expenses						24,488						13						6,121						4,225						(4,122)						30,725
Income (loss) before income taxes						11,465						(652)						(4,543)						(1,180)						—						5,090
Income taxes						2,628						(153)						(978)						(279)						—						1,218
Net income (loss)						8,837						(499)						(3,565)						(901)						—						3,872
Net income attributable to noncontrolling interest						—						—						—						(5)						—						(5)
Net income (loss) available to common shareholders						$	8,837					$	(499)					$	(3,565)					$	(906)					$	—					$	3,867
Capital expenditures for the three months ended September 30, 2023						$	163					$	—					$	17					$	48					$	—					$	228
Total assets as of September 30, 2023						$	3,378,789					$	85,017					$	330,634					$	18,895					$	(375,752)					$	3,437,583
Total assets as of December 31, 2022						$	3,014,475					$	34,248					$	375,171					$	27,075					$	(382,119)					$	3,068,850
Goodwill as of September 30, 2023						$	—					$	—					$	—					$	2,838					$	—					$	2,838
Goodwill as of December 31, 2022						$	—					$	—					$	—					$	2,838					$	—					$	2,838

Three Months Ended September 30, 2022						CoRe Banking						Mortgage Banking																		Financial Holding Company						Other						Intercompany Eliminations						Consolidated
(Dollars in thousands)
Interest income						$	33,777					$	103																	$	33					$	—					$	(10)					$	33,903
Interest expense						3,286						—																		771						10						(10)						4,057
Net interest income (expense)						30,491						103																		(738)						(10)						—						29,846
Provision for loan losses						5,120						—																		—												—						5,120
Net interest income (expense) after provision for loan losses						25,371						103																		(738)						(10)						—						24,726
Noninterest income						5,356						(817)																		2,366						1,370						(2,808)						5,467
Noninterest Expenses:
Salaries and employee benefits						9,354						8																		4,274						2,269						—						15,905
Other expenses						11,523						25																		1,810						1,721						(2,808)						12,271
Total noninterest expenses						20,877						33																		6,084						3,990						(2,808)						28,176
Income (loss) before income taxes						9,850						(747)																		(4,456)						(2,630)						—						2,017
Income taxes						1,817						(192)																		(840)						(601)						—						184
Net income (loss) from continuing operations						8,033						(555)																		(3,616)						(2,029)						—						1,833
Income from discontinued operations, before income taxes						—						—																		—						935						—						935
Income taxes - discontinued operations						—						—																		—						213						—						213
Net income from discontinued operations						—						—																		—						722						—						722
Net income (loss)						8,033						(555)																		(3,616)						(1,307)						—						2,555
Net income attributable to noncontrolling interest						—						—																		—						163						—						163
Net income (loss) available to common shareholders						$	8,033					$	(555)																	$	(3,616)					$	(1,144)					$	—					$	2,718
Capital expenditures for the three months ended September 30, 2022						$	244					$	—																	$	4					$	373					$	—					$	621

Nine Months Ended September 30, 2023						CoRe Banking						Mortgage Banking																		Financial Holding Company						Other						Intercompany Eliminations						Consolidated
(Dollars in thousands)
Interest income						$	139,859					$	313																	$	38					$	—					$	(91)					$	140,119
Interest expense						44,934						—																		2,992						108						(91)						47,943
Net interest income (expense)						94,925						313																		(2,954)						(108)						—						92,176
Provision for credit losses						182						—																		—						—						—						182
Net interest income (expense) after provision for credit losses						94,743						313																		(2,954)						(108)						—						91,994
Noninterest income						12,111						(56)																		8,102						5,934						(10,814)						15,277
Noninterest Expenses:
Salaries and employee benefits						27,891						7																		13,702						6,908						—						48,508
Other expenses						39,903						65																		6,072						5,590						(10,814)						40,816
Total noninterest expenses						67,794						72																		19,774						12,498						(10,814)						89,324
Income (loss) before income taxes						39,060						185																		(14,626)						(6,672)						—						17,947
Income taxes						8,380						(14)																		(3,127)						(1,600)						—						3,639
Net income (loss) from continuing operations						30,680						199																		(11,499)						(5,072)						—						14,308
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)						30,680						199																		(11,499)						3,710						—						23,090
Net loss attributable to noncontrolling interest						—						—																		—						231						—						231
Net income (loss) available to common shareholders						$	30,680					$	199																	$	(11,499)					$	3,941					$	—					$	23,321
Capital expenditures for the nine months ended September 30, 2023						$	655					$	—																	$	17					$	769					$	—					$	1,441

Nine Months Ended September 30, 2022						CoRe Banking						Mortgage Banking																		Financial Holding Company						Other						Intercompany Eliminations						Consolidated
(Dollars in thousands)
Interest income						$	84,858					$	309																	$	113					$	—					$	(25)					$	85,255
Interest expense						4,617						—																		2,284						25						(25)						6,901
Net interest income (expense)						80,241						309																		(2,171)						(25)						—						78,354
Provision for credit losses						11,500						—																		—						—						—						11,500
Net interest income (expense) after provision for credit losses						68,741						309																		(2,171)						(25)						—						66,854
Noninterest income						19,347						1,193																		8,265						4,490						(9,165)						24,130
Noninterest Expenses:
Salaries and employee benefits						28,810						8																		12,769						6,630						—						48,217
Other expenses						33,484						119																		6,262						4,488						(9,165)						35,188
Total noninterest expenses						62,294						127																		19,031						11,118						(9,165)						83,405
Income (loss) before income taxes						25,794						1,375																		(12,937)						(6,653)						—						7,579
Income taxes						5,219						356																		(2,524)						(1,488)						—						1,563
Net income (loss) from continuing operations						20,575						1,019																		(10,413)						(5,165)						—						6,016
Income from discontinued operations, before income taxes						—						—																		—						2,599						—						2,599
Income taxes - discontinued operations						—						—																		—						598						—						598
Net income from discontinued operations						—						—																		—						2,001						—						2,001
Net income (loss) before noncontrolling interest						20,575						1,019																		(10,413)						(3,164)						—						8,017
Net loss attributable to noncontrolling interest						—						—																		—						521						—						521
Net income (loss) available to common shareholders						$	20,575					$	1,019																	$	(10,413)					$	(2,643)					$	—					$	8,538
Capital expenditures for the nine months ended September 30, 2022						$	494					$	—																	$	389					$	1,847					$	—					$	2,730

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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