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Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting
Note 14 – 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.

Our CoRe Banking segment, which includes our Fintech division, represents banking products and services offered to customers by the Bank, primarily loans and deposits accounts. Revenue from banking activities consists primarily of interest earned on loans and investment securities and service charges on deposit accounts.

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 September 30, 2024CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$46,539 $103 $2 $— $(17)$46,627 
Interest expense19,234 — 808 17 (17)20,042 
   Net interest income (expense)27,305 103 (806)(17)— 26,585 
Provision for credit losses459 — 500 — — 959 
Net interest income (expense) after provision for credit losses26,846 103 (1,306)(17)— 25,626 
Noninterest income4,574 768 2,956 2,332 (3,973)6,657 
Noninterest Expenses:
Salaries and employee benefits10,075 — 4,528 2,119 — 16,722 
Other expenses13,164 4 2,240 1,328 (3,973)12,763 
   Total noninterest expenses23,239 4 6,768 3,447 (3,973)29,485 
Income (loss), before income taxes8,181 867 (5,118)(1,132)— 2,798 
Income taxes1,774 204 (1,063)(273)— 642 
Net income (loss), before noncontrolling interest6,407 663 (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, 2023CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$48,268 $103 $2 $— $(48)$48,325 
Interest expense17,454 — 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 losses30,973 103 (998)(54)— 30,024 
Noninterest income4,980 (742)2,576 3,099 (4,122)5,791 
Noninterest Expenses:
Salaries and employee benefits9,787 — 4,129 2,100 — 16,016 
Other expenses14,701 13 1,992 2,125 (4,122)14,709 
   Total noninterest expenses24,488 13 6,121 4,225 (4,122)30,725 
Income (loss), before income taxes11,465 (652)(4,543)(1,180)— 5,090 
Income taxes2,628 (153)(978)(279)— 1,218 
Net income (loss), before noncontrolling interest8,837 (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, 2024CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$142,519 $309 $7 $— $(51)$142,784 
Interest expense55,796 — 2,689 56 (51)58,490 
   Net interest income (expense)86,723 309 (2,682)(56)— 84,294 
Provision for credit losses2,710 — 500 — — 3,210 
Net interest income (expense) after provision for credit losses84,013 309 (3,182)(56)— 81,084 
Noninterest income16,993 124 7,990 8,724 (12,198)21,633 
Noninterest Expenses:
Salaries and employee benefits29,257 — 13,679 6,224 — 49,160 
Other expenses40,242 4 6,161 5,237 (12,198)39,446 
   Total noninterest expenses69,499 4 19,840 11,461 (12,198)88,606 
Income (loss), before income taxes31,507 429 (15,032)(2,793)— 14,111 
Income taxes7,090 120 (3,236)(670)— 3,304 
Net income (loss), before noncontrolling interest24,417 309 (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, 2023CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$139,859 $313 $38 $— $(91)$140,119 
Interest expense44,934 — 2,992 108 (91)47,943 
   Net interest income (expense)94,925 313 (2,954)(108)— 92,176 
Provision for credit losses182 — — — — 182 
Net interest income (expense) after provision for credit losses94,743 313 (2,954)(108)— 91,994 
Noninterest income12,111 (56)8,102 5,934 (10,814)15,277 
Noninterest Expenses:
Salaries and employee benefits27,891 7 13,702 6,908 — 48,508 
Other expenses39,903 65 6,072 5,590 (10,814)40,816 
   Total noninterest expenses67,794 72 19,774 12,498 (10,814)89,324 
Income (loss), before income taxes39,060 185 (14,626)(6,672)— 17,947 
Income taxes8,380 (14)(3,127)(1,600)— 3,639 
   Net income (loss) from continuing operations30,680 199 (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 interest30,680 199 (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