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Segment Reporting (Tables)

9 Months Ended

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

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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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