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v3.25.1

Segment Reporting (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31, 2025 |  | CoRe Banking |  | Mortgage Banking |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |
Interest income |  | $ | 43,151 |  |  | $ | 103 |  |  | $ | 2 |  |  | $ | — |  |  | $ | (27) |  |  | $ | 43,229 |
Interest expense |  | 15,756 |  |  | — |  |  | 797 |  |  | 27 |  |  | (27) |  |  | 16,553 |
Net interest income (expense) |  | 27,395 |  |  | 103 |  |  | (795) |  |  | (27) |  |  | — |  |  | 26,676 |
Provision for credit losses |  | 177 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 177 |
Net interest income (expense) after provision for credit losses |  | 27,218 |  |  | 103 |  |  | (795) |  |  | (27) |  |  | — |  |  | 26,499 |
Noninterest income |  | 5,309 |  |  | 648 |  |  | 2,887 |  |  | 1,456 |  |  | (3,292) |  |  | 7,008 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 9,438 |  |  | — |  |  | 5,257 |  |  | 1,717 |  |  | — |  |  | 16,412 |
Occupancy expense |  | 1,296 |  |  | — |  |  | 36 |  |  | — |  |  | (36) |  |  | 1,296 |
Equipment depreciation and maintenance |  | 408 |  |  | — |  |  | 81 |  |  | 490 |  |  | — |  |  | 979 |
Data processing and communications |  | 1,112 |  |  | — |  |  | 142 |  |  | 101 |  |  | — |  |  | 1,355 |
Professional fees |  | 2,041 |  |  | — |  |  | 1,414 |  |  | 493 |  |  | (367) |  |  | 3,581 |
Other expenses 1 |  | 7,185 |  |  | — |  |  | 626 |  |  | 156 |  |  | (2,889) |  |  | 5,078 |
Total noninterest expenses |  | 21,480 |  |  | — |  |  | 7,556 |  |  | 2,957 |  |  | (3,292) |  |  | 28,701 |
Operating income (loss) |  | $ | 11,047 |  |  | $ | 751 |  |  | $ | (5,464) |  |  | $ | (1,528) |  |  | $ | — |  |  | $ | 4,806 |
Capital expenditures for the three months ended March 31, 2025 |  | $ | 237 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 261 |
Total assets as of March 31, 2025 |  | $ | 2,966,653 |  |  | $ | 88,406 |  |  | $ | 353,050 |  |  | $ | 18,044 |  |  | $ | (406,466) |  |  | $ | 3,019,687 |
Total assets as of December 31, 2024 |  | $ | 3,076,644 |  |  | $ | 32,697 |  |  | $ | 405,010 |  |  | $ | 23,090 |  |  | $ | (408,737) |  |  | $ | 3,128,704 |
Goodwill as of March 31, 2025 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,200 |  |  | $ | — |  |  | $ | 1,200 |
Goodwill as of December 31, 2024 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,838 |  |  | $ | — |  |  | $ | 2,838 |
Investment in equity method investees as of March 31, 2025 |  | $ | — |  |  | $ | 79,004 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 79,004 |
Investment in equity method investees as of December 31, 2024 |  | $ | — |  |  | $ | 78,255 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 78,255 |
1 Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.
Three Months Ended March 31, 2024 |  | CoRe Banking |  | Mortgage Banking |  |  |  |  |  | Financial Holding Company |  | Other |  | Intercompany Eliminations |  | Consolidated
(Dollars in thousands) |  |  |  |  |  |  |
Interest income |  | $ | 49,942 |  |  | $ | 103 |  |  |  |  |  |  | $ | 2 |  |  | $ | — |  |  | $ | (17) |  |  | $ | 50,030 |
Interest expense |  | 18,927 |  |  | — |  |  |  |  |  |  | 959 |  |  | 22 |  |  | (17) |  |  | 19,891 |
Net interest income (expense) |  | 31,015 |  |  | 103 |  |  |  |  |  |  | (957) |  |  | (22) |  |  | — |  |  | 30,139 |
Provision for credit losses |  | 1,997 |  |  | — |  |  |  |  |  |  | — |  |  |  |  | — |  |  | 1,997 |
Net interest income (expense) after provision for credit losses |  | 29,018 |  |  | 103 |  |  |  |  |  |  | (957) |  |  | (22) |  |  | — |  |  | 28,142 |
Noninterest income |  | 7,521 |  |  | (1,129) |  |  |  |  |  |  | 2,265 |  |  | 3,264 |  |  | (4,087) |  |  | 7,834 |
Noninterest Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and employee benefits |  | 9,823 |  |  | — |  |  |  |  |  |  | 4,678 |  |  | 1,988 |  |  | — |  |  | 16,489 |
Occupancy expense |  | 864 |  |  | — |  |  |  |  |  |  | 36 |  |  | — |  |  | (36) |  |  | 864 |
Equipment depreciation and maintenance |  | 656 |  |  | — |  |  |  |  |  |  | 87 |  |  | 473 |  |  | — |  |  | 1,216 |
Data processing and communications |  | 1,213 |  |  | — |  |  |  |  |  |  | 122 |  |  | 124 |  |  | — |  |  | 1,459 |
Professional fees |  | 4,986 |  |  | — |  |  |  |  |  |  | 1,001 |  |  | 593 |  |  | (843) |  |  | 5,737 |
Other expenses 1 |  | 6,102 |  |  | — |  |  |  |  |  |  | 595 |  |  | 937 |  |  | (3,208) |  |  | 4,426 |
Total noninterest expenses |  | 23,644 |  |  | — |  |  |  |  |  |  | 6,519 |  |  | 4,115 |  |  | (4,087) |  |  | 30,191 |
Operating income (loss) |  | $ | 12,895 |  |  | $ | (1,026) |  |  |  |  |  |  | $ | (5,211) |  |  | $ | (873) |  |  | $ | — |  |  | $ | 5,785 |
Capital expenditures for the three months ended March 31, 2024 |  | $ | 652 |  |  | $ | — |  |  |  |  |  |  | $ | 11 |  |  | $ | 258 |  |  | $ | — |  |  | $ | 921 |
1 Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.

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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 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 + Details
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