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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 Summarized Financial Information Showing Reconciliation of Segment Net Income Loss and Assets to Consolidated Results |
|  | Three Months Ended March 31, 2025
|  | Core Banking |  | WMG |  | Holding Company and CFS |  | Inter-Segment Eliminations |  | Consolidated Totals
Interest and dividend income |  | $ | 31,698 |  |  | $ | — |  |  | $ | 1 |  |  | $ | (1) |  |  | $ | 31,698 |
Interest expense |  | 11,882 |  |  | — |  |  | — |  |  | (1) |  |  | 11,881 |
Net interest income |  | 19,816 |  |  | — |  |  | 1 |  |  | — |  |  | 19,817 |
Provision for credit losses |  | 1,092 |  |  | — |  |  | — |  |  | — |  |  | 1,092 |
Net interest income after provision for credit losses |  | 18,724 |  |  | — |  |  | 1 |  |  | — |  |  | 18,725 |
Non-interest income |  | 2,816 |  |  | 2,867 |  |  | 209 |  |  | (3) |  |  | 5,889 |
Non-interest expenses: |  |  |  |  |  |  |  |  |  |
Legal settlements |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Compensation expense |  | 7,349 |  |  | 1,413 |  |  | 256 |  |  | — |  |  | 9,018 |
Net occupancy expense |  | 1,470 |  |  | 63 |  |  | 3 |  |  | (3) |  |  | 1,533 |
Furniture and equipment expense |  | 351 |  |  | 19 |  |  | 3 |  |  | — |  |  | 373 |
Data processing & software expense |  | 2,210 |  |  | 313 |  |  | 11 |  |  | — |  |  | 2,534 |
Other non-interest expenses |  | 3,274 |  |  | 106 |  |  | 89 |  |  | — |  |  | 3,469 |
Total non-interest expense |  | 14,654 |  |  | 1,914 |  |  | 362 |  |  | (3) |  |  | 16,927 |
Income before income tax expense (benefit) |  | 6,886 |  |  | 953 |  |  | (152) |  |  | — |  |  | 7,687 |
Income tax expense (benefit) |  | 1,505 |  |  | 208 |  |  | (49) |  |  | — |  |  | 1,664 |
Segment net income |  | $ | 5,381 |  |  | $ | 745 |  |  | $ | (103) |  |  | $ | — |  |  | $ | 6,023 |
Supplemental Information: |  |  |  |  |  |  |  |  |  |
Total assets as of March 31, 2025 |  | $ | 2,766,339 |  |  | $ | 3,005 |  |  | $ | 228,017 |  |  | $ | (200,636) |  |  | $ | 2,796,725 |
Capital expenditures |  | $ | 328 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 328 |
Depreciation expense 1 |  | $ | 452 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | 467 |
1 Included in net occupancy and furniture and equipment expense in the table above.
|  | Three Months Ended March 31, 2024
|  | Core Banking |  | WMG |  | Holding Company, and CFS |  | Inter-Segment Eliminations |  | Consolidated Totals
Interest and dividend income |  | $ | 31,211 |  |  | $ | — |  |  | $ | 10 |  |  | $ | (2) |  |  | $ | 31,219 |
Interest expense |  | 13,132 |  |  | — |  |  | — |  |  | (2) |  |  | 13,130 |
Net interest income |  | 18,079 |  |  | — |  |  | 10 |  |  | — |  |  | 18,089 |
Provision for credit losses |  | (2,040) |  |  | — |  |  | — |  |  | — |  |  | (2,040) |
Net interest income after provision for credit losses |  | 20,119 |  |  | — |  |  | 10 |  |  | — |  |  | 20,129 |
Non-interest income |  | 2,744 |  |  | 2,703 |  |  | 212 |  |  | (2) |  |  | 5,657 |
Non-interest expenses: |  |  |  |  |  |  |  |  |  |
Legal settlements |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Compensation expense |  | 7,256 |  |  | 1,437 |  |  | 173 |  |  | — |  |  | 8,866 |
Net occupancy expense |  | 1,430 |  |  | 63 |  |  | 2 |  |  | (2) |  |  | 1,493 |
Furniture and equipment expense |  | 376 |  |  | 19 |  |  | 3 |  |  | — |  |  | 398 |
Data processing & software expense |  | 2,292 |  |  | 275 |  |  | 6 |  |  | — |  |  | 2,573 |
Other non-interest expenses |  | 3,185 |  |  | 101 |  |  | 82 |  |  | — |  |  | 3,368 |
Total non-interest expense |  | 14,539 |  |  | 1,895 |  |  | 266 |  |  | (2) |  |  | 16,698 |
Income before income tax expense (benefit) |  | 8,324 |  |  | 808 |  |  | (44) |  |  | — |  |  | 9,088 |
Income tax expense (benefit) |  | 1,871 |  |  | 182 |  |  | (15) |  |  | — |  |  | 2,038 |
Segment net income |  | $ | 6,453 |  |  | $ | 626 |  |  | $ | (29) |  |  | $ | — |  |  | $ | 7,050 |
Supplemental Information: |  |  |  |  |  |  |  |  |  |
Total assets as of March 31, 2024 |  | $ | 2,773,541 |  |  | $ | 3,152 |  |  | $ | 198,427 |  |  | $ | (190,230) |  |  | $ | 2,784,890 |
Capital expenditures |  | $ | 81 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 81 |
Depreciation expense 1 |  | $ | 451 |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | 465 |
1 Included in net occupancy and furniture and equipment expense in the table above.

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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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