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Segment Reporting
 6 Months Ended
Jun. 30, 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 and President, 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 June 30, 2025CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$42,316 $103 $2 $— $(37)$42,384 
Interest expense15,807 — 797 37 (37)16,604 
   Net interest income (expense)26,509 103 (795)(37)— 25,780 
Provision for credit losses1,990 — — — — 1,990 
Net interest income (expense) after provision for credit losses24,519 103 (795)(37)— 23,790 
Noninterest income4,677 2,315 2,855 1,214 (3,116)7,945 
Noninterest Expenses:
Salaries and employee benefits9,348 — 5,154 1,299 — 15,801 
Occupancy expense1,299 — 72 — (72)1,299 
Equipment depreciation and maintenance414 — 72 414 — 900 
Data processing and communications1,129 — 120 83 — 1,332 
Professional fees2,348 — 1,135 281 (283)3,481 
Other expenses1
7,483 — 869 165 (2,761)5,756 
   Total noninterest expenses22,021 — 7,422 2,242 (3,116)28,569 
Operating income (loss)$7,175 $2,418 $(5,362)$(1,065)$— $3,166 
Capital expenditures for the three months ended June 30, 2025$155 $— $18 $18 $— $191 
Total assets as of June 30, 20253,166,318 90,823 346,158 16,952 (396,243)3,224,008 
Total assets as of December 31, 20243,076,644 32,697 405,010 23,090 (408,737)3,128,704 
Goodwill as of June 30, 2025— — — 1,200 — 1,200 
Goodwill as of December 31, 2024— — — 2,838 — 2,838 
Investment in equity method investees as of June 30, 2025— 81,423 — — — 81,423 
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 June 30, 2024CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$46,038 $103 $3 $— $(17)$46,127 
Interest expense17,635 — 922 17 (17)18,557 
   Net interest income (expense)28,403 103 (919)(17)— 27,570 
Provision for credit losses254 — — — 254 
Net interest income (expense) after provision for credit losses28,149 103 (919)(17)— 27,316 
Noninterest income4,898 485 2,769 3,128 (4,138)7,142 
Noninterest Expenses:
Salaries and employee benefits9,359 — 4,473 2,117 — 15,949 
Occupancy expense948 — 37 — (36)949 
Equipment depreciation and maintenance581 — 115 522 — 1,218 
Data processing and communications1,027 — 152 134 — 1,313 
Professional fees4,404 — 1,250 361 (823)5,192 
Other expenses1
6,297 — 526 765 (3,279)4,309 
   Total noninterest expenses22,616 — 6,553 3,899 (4,138)28,930 
Operating income (loss)$10,431 $588 $(4,703)$(788)$— $5,528 
Capital expenditures for the three months ended June 30, 2024$159 $— $97 $— $— $256 
1Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.
Six Months Ended June 30, 2025CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$85,467 $206 $4 $— $(64)$85,613 
Interest expense31,563 — 1,594 64 (64)33,157 
   Net interest income (expense)53,904 206 (1,590)(64)— 52,456 
Provision for credit losses2,167 — — — — 2,167 
Net interest income (expense) after provision for credit losses51,737 206 (1,590)(64)— 50,289 
Noninterest income9,986 2,963 5,742 2,670 (6,408)14,953 
Noninterest Expenses:
Salaries and employee benefits18,786 — 10,411 3,016 — 32,213 
Occupancy expense2,595 — 108 — (108)2,595 
Equipment depreciation and maintenance822 — 153 904 — 1,879 
Data processing and communications2,241 — 262 184 — 2,687 
Professional fees4,389 — 2,549 774 (650)7,062 
Other expenses14,668 — 1,495 321 (5,650)10,834 
   Total noninterest expenses43,501 — 14,978 5,199 (6,408)57,270 
Operating income (loss)$18,222 $3,169 $(10,826)$(2,593)$— $7,972 
Capital expenditures for the six months ended June 30, 2025$392 $— $30 $30 $— $452 
1Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.

Six Months Ended June 30, 2024CoRe BankingMortgage BankingFinancial Holding CompanyOtherIntercompany EliminationsConsolidated
(Dollars in thousands)
Interest income$95,980 $206 $5 $— $(34)$96,157 
Interest expense36,562 — 1,881 39 (34)38,448 
   Net interest income (expense)59,418 206 (1,876)(39)— 57,709 
Provision for credit losses2,251 — — — — 2,251 
Net interest income (expense) after provision for credit losses57,167 206 (1,876)(39)— 55,458 
Noninterest income12,419 (644)5,034 6,392 (8,225)14,976 
Noninterest Expenses:
Salaries and employee benefits19,182 — 9,151 4,105 — 32,438 
Occupancy expense1,812 — 73 — (72)1,813 
Equipment depreciation and maintenance1,237 — 202 995 — 2,434 
Data processing and communications2,240 — 274 258 — 2,772 
Professional fees9,390 — 2,251 954 (1,666)10,929 
Other expenses12,399 — 1,121 1,702 (6,487)8,735 
   Total noninterest expenses46,260 — 13,072 8,014 (8,225)59,121 
Operating income (loss)$23,326 $(438)$(9,914)$(1,661)$— $11,313 
Capital expenditures for the six months ended June 30, 2024$811 $— $108 $258 $— $1,177 
1Other expenses consist of insurance, tax and assessment expenses, travel, entertainment, dues and subscription expenses and other operating expenses.