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v3.24.3

Segment Reporting (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of 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, 2024 |  | CoRe Banking |  | Mortgage Banking |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |
Interest income |  | $ | 46,539 |  |  | $ | 103 |  |  | $ | 2 |  |  | $ | — |  |  | $ | (17) |  |  | $ | 46,627 |
Interest expense |  | 19,234 |  |  | — |  |  | 808 |  |  | 17 |  |  | (17) |  |  | 20,042 |
Net interest income (expense) |  | 27,305 |  |  | 103 |  |  | (806) |  |  | (17) |  |  | — |  |  | 26,585 |
Provision for credit losses |  | 459 |  |  | — |  |  | 500 |  |  | — |  |  | — |  |  | 959 |
Net interest income (expense) after provision for credit losses |  | 26,846 |  |  | 103 |  |  | (1,306) |  |  | (17) |  |  | — |  |  | 25,626 |
Noninterest income |  | 4,574 |  |  | 768 |  |  | 2,956 |  |  | 2,332 |  |  | (3,973) |  |  | 6,657 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 10,075 |  |  | — |  |  | 4,528 |  |  | 2,119 |  |  | — |  |  | 16,722 |
Other expenses |  | 13,164 |  |  | 4 |  |  | 2,240 |  |  | 1,328 |  |  | (3,973) |  |  | 12,763 |
Total noninterest expenses |  | 23,239 |  |  | 4 |  |  | 6,768 |  |  | 3,447 |  |  | (3,973) |  |  | 29,485 |
Income (loss), before income taxes |  | 8,181 |  |  | 867 |  |  | (5,118) |  |  | (1,132) |  |  | — |  |  | 2,798 |
Income taxes |  | 1,774 |  |  | 204 |  |  | (1,063) |  |  | (273) |  |  | — |  |  | 642 |
Net income (loss), before noncontrolling interest |  | 6,407 |  |  | 663 |  |  | (4,055) |  |  | (859) |  |  | — |  |  | 2,156 |
Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | — |  |  | (76) |  |  | — |  |  | (76) |
Net income (loss) available to common shareholders |  | $ | 6,407 |  |  | $ | 663 |  |  | $ | (4,055) |  |  | $ | (935) |  |  | $ | — |  |  | $ | 2,080 |
Capital expenditures for the three months ended September 30, 2024 |  | $ | 91 |  |  | $ | — |  |  | $ | 81 |  |  | $ | 137 |  |  | $ | — |  |  | $ | 309 |
Total assets as of September 30, 2024 |  | $ | 3,363,051 |  |  | $ | 86,253 |  |  | $ | 349,816 |  |  | $ | 18,303 |  |  | $ | (398,667) |  |  | $ | 3,418,756 |
Total assets as of December 31, 2023 |  | $ | 3,255,369 |  |  | $ | 83,909 |  |  | $ | 345,314 |  |  | $ | 17,728 |  |  | $ | (388,438) |  |  | $ | 3,313,882 |
Goodwill as of September 30, 2024 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,838 |  |  | $ | — |  |  | $ | 2,838 |
Goodwill as of December 31, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,838 |  |  | $ | — |  |  | $ | 2,838 |
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), before noncontrolling interest |  | 8,837 |  |  | (499) |  |  |  |  |  |  | (3,565) |  |  | (901) |  |  | — |  |  | 3,872 |
Net loss 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 |
Nine Months Ended September 30, 2024 |  | CoRe Banking |  | Mortgage Banking |  |  |  |  |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |  |  |  |
Interest income |  | $ | 142,519 |  |  | $ | 309 |  |  |  |  |  |  | $ | 7 |  |  | $ | — |  |  | $ | (51) |  |  | $ | 142,784 |
Interest expense |  | 55,796 |  |  | — |  |  |  |  |  |  | 2,689 |  |  | 56 |  |  | (51) |  |  | 58,490 |
Net interest income (expense) |  | 86,723 |  |  | 309 |  |  |  |  |  |  | (2,682) |  |  | (56) |  |  | — |  |  | 84,294 |
Provision for credit losses |  | 2,710 |  |  | — |  |  |  |  |  |  | 500 |  |  | — |  |  | — |  |  | 3,210 |
Net interest income (expense) after provision for credit losses |  | 84,013 |  |  | 309 |  |  |  |  |  |  | (3,182) |  |  | (56) |  |  | — |  |  | 81,084 |
Noninterest income |  | 16,993 |  |  | 124 |  |  |  |  |  |  | 7,990 |  |  | 8,724 |  |  | (12,198) |  |  | 21,633 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 29,257 |  |  | — |  |  |  |  |  |  | 13,679 |  |  | 6,224 |  |  | — |  |  | 49,160 |
Other expenses |  | 40,242 |  |  | 4 |  |  |  |  |  |  | 6,161 |  |  | 5,237 |  |  | (12,198) |  |  | 39,446 |
Total noninterest expenses |  | 69,499 |  |  | 4 |  |  |  |  |  |  | 19,840 |  |  | 11,461 |  |  | (12,198) |  |  | 88,606 |
Income (loss), before income taxes |  | 31,507 |  |  | 429 |  |  |  |  |  |  | (15,032) |  |  | (2,793) |  |  | — |  |  | 14,111 |
Income taxes |  | 7,090 |  |  | 120 |  |  |  |  |  |  | (3,236) |  |  | (670) |  |  | — |  |  | 3,304 |
Net income (loss), before noncontrolling interest |  | 24,417 |  |  | 309 |  |  |  |  |  |  | (11,796) |  |  | (2,123) |  |  | — |  |  | 10,807 |
Net income attributable to noncontrolling interest |  | — |  |  | — |  |  |  |  |  |  | — |  |  | (156) |  |  | — |  |  | (156) |
Net income (loss) available to common shareholders |  | $ | 24,417 |  |  | $ | 309 |  |  |  |  |  |  | $ | (11,796) |  |  | $ | (2,279) |  |  | $ | — |  |  | $ | 10,651 |
Capital expenditures for the nine months ended September 30, 2024 |  | $ | 902 |  |  | $ | — |  |  |  |  |  |  | $ | 189 |  |  | $ | 395 |  |  | $ | — |  |  | $ | 1,486 |
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) before noncontrolling interest |  | 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 |

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