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Segment Reporting
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting
Note 12 – 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. We determined these segments based on differences in products and services.

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 Other category consists of professional services and our Edge Venture companies. Revenue from the professional services are primarily made up of professional consulting income derived from banks and Fintech companies. Revenue from our Edge Ventures companies primarily consist of software services, offering account functionality and transactions to customers through web-based platforms.

Our chief operating decision makers ("CODMs") regularly review the performance of operating segments to assess performance and allocate resources between segments as necessary. The CODMs consist of the Chief Executive Officer, President and Chief Financial Officer and Chief Administrative Officer. The measure used by the CODMs to assess performance and decide how to allocate resources is based on operating income that also is reported on the income statement as consolidated income before income taxes. Operating income is used by the CODMs to monitor budget versus actual results, as well as benchmarking to our peers. Operating income on a segment basis is reported below.
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, 2025CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$43,151 $103 $2 $— $(27)$43,229 
Interest expense15,756 — 797 27 (27)16,553 
   Net interest income (expense)27,395 103 (795)(27)— 26,676 
Provision for credit losses177 — — — — 177 
Net interest income (expense) after provision for credit losses27,218 103 (795)(27)— 26,499 
Noninterest income5,309 648 2,887 1,456 (3,292)7,008 
Noninterest Expenses:
Salaries and employee benefits9,438 — 5,257 1,717 — 16,412 
Occupancy expense1,296 — 36 — (36)1,296 
Equipment depreciation and maintenance408 — 81 490 — 979 
Data processing and communications1,112 — 142 101 — 1,355 
Professional fees2,041 — 1,414 493 (367)3,581 
Other expenses1
7,185 — 626 156 (2,889)5,078 
   Total noninterest expenses21,480 — 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 
1Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.
Three Months Ended March 31, 2024CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$49,942 $103 $2 $— $(17)$50,030 
Interest expense18,927 — 959 22 (17)19,891 
   Net interest income (expense)31,015 103 (957)(22)— 30,139 
Provision for credit losses1,997 — — — 1,997 
Net interest income (expense) after provision for credit losses29,018 103 (957)(22)— 28,142 
Noninterest income7,521 (1,129)2,265 3,264 (4,087)7,834 
Noninterest Expenses:
Salaries and employee benefits9,823 — 4,678 1,988 — 16,489 
Occupancy expense864 — 36 — (36)864 
Equipment depreciation and maintenance656 — 87 473 — 1,216 
Data processing and communications1,213 — 122 124 — 1,459 
Professional fees4,986 — 1,001 593 (843)5,737 
Other expenses1
6,102 — 595 937 (3,208)4,426 
   Total noninterest expenses23,644 — 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 
1Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.