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Reportable Segments
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Reportable Segments

Note 7 - Reportable Segments

The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning by management. The Company has four reportable segments:

  · Commercial and Retail Banking: The Company’s primary business is to provide deposit and lending products and services to its commercial and retail customers.
  · Mortgage Banking: This segment provides mortgage origination services for loans that will be sold to investors in the secondary market and consumer mortgage loans that will be held-for-investment. In the second quarter of 2022, management made the decision to include consumer mortgage held-for-investment loans in this segment. Prior to the second quarter of 2022, consumer mortgage loans held-for-investment were included in the Commercial and Retail Banking segment. The Mortgage Banking financial information presented below includes consumer mortgage loans held-for-investment for all periods presented. Beginning in June 2022, a provision for loan loss has been allocated to this segment.
  · Investment advisory and non-deposit: This segment provides investment advisory services and non-deposit products.
  · Corporate: This segment includes the parent company financial information, including interest on parent company debt and dividend income received from the Bank.

The following tables present selected financial information for the Company’s reportable business segments for the three and six months ended June 30, 2023 and June 30, 2022.

(Dollars in thousands)  Commercial       Investment             
Three months ended June 30, 2023  and Retail   Mortgage   advisory and             
   Banking   Banking   non-deposit   Corporate   Eliminations   Consolidated 
                               
Dividend and Interest Income  $16,692   $796   $—   $1,338   $(1,329)  $17,497 
Interest expense   4,851    216    —    293    —    5,360 
Net interest income  $11,841   $580   $—   $1,045   $(1,329)  $12,137 
Provision for credit losses   75    111    —    —    —    186 
Noninterest income   1,597    373    1,081    —    —    3,051 
Noninterest expense   8,729    913    763    350    —    10,755 
Net income before taxes  $4,634   $(71)  $318   $695   $(1,329)  $4,247 
Income tax provision (benefit)   1,053    —    —    (133)   —    920 
Net income  $3,581   $(71)  $318   $828   $(1,329)  $3,327 
                               
(Dollars in thousands)  Commercial       Investment             
Three months ended June 30, 2022  and Retail   Mortgage   advisory and             
   Banking   Banking   non-deposit   Corporate   Eliminations   Consolidated 
                         
Dividend and Interest Income  $11,094   $415   $—   $1,089   $(1,085)  $11,513 
Interest expense   319    12    —    131    —    462 
Net interest income  $10,775   $403   $—   $958   $(1,085)  $11,051 
Provision for (release of) credit losses   (110)   40    —    —    —    (70)
Noninterest income   1,332    482    1,195    —    —    3,009 
Noninterest expense   8,346    846    775    221    —    10,188 
Net income before taxes  $3,871   $(1)  $420   $737   $(1,085)  $3,942 
Income tax provision (benefit)   890    —    —    (78)   —    812 
Net income  $2,981   $(1)  $420   $815   $(1,085)  $3,130 
                               
(Dollars in thousands)  Commercial       Investment             
Six months ended June 30, 2023  and Retail   Mortgage   advisory and             
   Banking   Banking   non-deposit   Corporate   Eliminations   Consolidated 
                         
Dividend and Interest Income  $31,923   $1,447   $—   $2,658   $(2,641)  $33,387 
Interest expense   7,984    345    —    564    —    8,893 
Net interest income  $23,939   $1,102   $—   $2,094   $(2,641)  $24,494 
Provision for credit losses   74    182    —    —    —    256 
Noninterest income   2,949    529    2,148    —    —    5,626 
Noninterest expense   17,280    1,699    1,514    698    —    21,191 
Net income before taxes  $9,534   $(250)  $634   $1,396   $(2,641)  $8,673 
Income tax provision (benefit)   2,146    —    —    (263)   —    1,883 
Net income (loss)  $7,388   $(250)  $634   $1,659   $(2,641)  $6,790 
                               
                         
(Dollars in thousands)  Commercial       Investment             
Six months ended June 30, 2022  and Retail   Mortgage   advisory and             
   Banking   Banking   non-deposit   Corporate   Eliminations   Consolidated 
Dividend and Interest Income  $21,832   $869   $—   $2,173   $(2,166)  $22,708 
Interest expense   689    —    —    235    —    924 
Net interest income  $21,143   $869   $—   $1,938   $(2,166)  $21,784 
Provision for (release of) credit losses   (235)   40    —    —    —    (195)
Noninterest income   2,667    1,323    2,393    —    —    6,383 
Noninterest expense   16,323    1,876    1,538    405    —    20,142 
Net income before taxes  $7,722   $276   $855   $1,533   $(2,166)  $8,220 
Income tax provision (benefit)   1,739    —    —    (138)   —    1,601 
Net income (loss)  $5,983   $276   $855   $1,671   $(2,166)  $6,619 
                               
   Commercial       Investment             
(Dollars in thousands)  and Retail   Mortgage   advisory and             
   Banking   Banking   non-deposit   Corporate   Eliminations   Consolidated 
Total Assets as of June 30, 2023  $1,665,561   $74,320   $—   $166,043   $(164,942)  $1,740,982 
Total Assets as of December 31, 2022  $1,616,173   $55,845   $—   $165,937   $(165,009)  $1,672,946