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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
SEGMENT INFORMATION  
SEGMENT INFORMATION

NOTE 18 – SEGMENT INFORMATION

The Company operates as one reportable segment: banking operations. The Company’s banking operations generate revenue primarily from loans and securities, deposits, and non-interest income. Loan products generate a significant portion of interest and fee income, while deposit products provide fee and service charge income. The Company also earns interest and dividend income from securities and generates net gains from the sale of loans to third parties. Interest expense, provisions for credit losses, salaries and employee benefits, data processing, and occupancy expense typically represent the significant expenses in banking operations.  These expenses align with those reported in the Company’s Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Cash Flows. Noncash items, such as depreciation and amortization, are also reflected in both the Condensed Consolidated Statements of Income and the Condensed Consolidated Statements Cash Flows.

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The Company’s Chief Operating Decision Maker (CODM) is identified as the Chief Executive Officer, who is responsible for assessing the financial performance of the Company and allocating resources accordingly. The CODM is provided with consolidated balance sheets, income statements, and net interest margin analyses in order to evaluate revenue streams, significant expenses, and budget-to-actual results in assessing the Company’s segment and determining the allocation of resources, as well as evaluating return on assets. In addition, the CODM utilizes consolidated net income, return on assets, and net interest margin as benchmarks to compare the Company’s performance against competitors. All operations are domestic and align with a single operating segment. Information reported internally for performance assessment by the CODM is identical to that shown in the Condensed Consolidated Statements of Income.

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The following table presents the Company’s one operating segment for the periods indicated:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended September 30,

​

Nine months ended September 30,

​

​

2025

​

2024

​

2025

​

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest and dividend income

 

$

34,950

​

$

33,426

​

$

101,049

​

$

97,576

​

​

​

​

​

​

​

​

​

​

​

​

​

Reconciliation of revenue:

​

​

​

​

​

​

​

​

​

​

​

​

Other revenues

​

​

2,248

​

​

2,745

​

​

5,201

​

​

6,290

Total consolidated revenue

​

​

37,198

​

​

36,171

​

​

106,250

​

​

103,866

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense

​

​

11,541

​

​

10,561

​

​

31,600

​

​

30,009

Segment net interest income and noninterest income

​

​

25,657

​

​

25,610

​

​

74,650

​

​

73,857

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Provision for credit losses

​

​

2,973

​

​

1,245

​

​

3,818

​

​

1,668

Salaries and employee benefits

​

​

10,168

​

​

9,569

​

​

29,831

​

​

29,247

Occupancy and equipment

​

​

2,143

​

​

2,209

​

​

6,462

​

​

6,496

Data processing

​

​

2,038

​

​

1,973

​

​

5,804

​

​

5,376

Other segment items

​

​

1,597

​

​

2,323

​

​

5,592

​

​

7,038

Provision for income taxes

​

​

1,731

​

​

2,274

​

​

6,070

​

​

6,538

Segment net income/consolidated net income

​

$

5,007

​

$

6,017

​

$

17,073

​

$

17,494

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30,

​

​

December 31,

​

​

​

​

​

​

​

​

​

2025

​

​

2024

​

​

​

​

​

​

Reconciliation of assets:

​

​

​

​

​

​

​

​

​

​

​

​

Total assets for reportable segment

​

$

2,603,787

​

$

2,664,508

​

​

​

​

​

​

Other assets

​

​

—

​

​

—

​

​

​

​

​

​

Total consolidated assets

​

$

2,603,787

​

$

2,664,508

​

​

​

​

​

​

​