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Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Company’s Reportable Segment

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

Schedule of Company’s Reportable Segment

(Dollars in thousands)		Commercial								Investment
Three months ended September 30, 2023		and Retail				Mortgage				advisory and
		Banking				Banking				non-deposit				Corporate				Eliminations				Consolidated
Dividend and Interest Income		$	17,646			$	1,078			$	—			$	1,360			$	(1,350	)		$	18,734
Interest expense			5,990				332				—				309				—				6,631
Net interest income		$	11,656			$	746			$	—			$	1,051			$	(1,350	)		$	12,103
Provision for credit losses			295				179				—				—				—				474
Noninterest income			166				511				1,187				—				—				1,864
Noninterest expense			9,194				949				796				334				—				11,273
Net income before taxes		$	2,333			$	129			$	391			$	717			$	(1,350	)		$	2,220
Income tax provision (benefit)			597				—				—				(133	)			—				464
Net income		$	1,736			$	129			$	391			$	850			$	(1,350	)		$	1,756
(Dollars in thousands)		Commercial								Investment
Three months ended September 30, 2022		and Retail				Mortgage				advisory and
		Banking				Banking				non-deposit				Corporate				Eliminations				Consolidated
Dividend and Interest Income		$	12,905			$	441			$	—			$	1,122			$	(1,116	)		$	13,352
Interest expense			351				16				—				191				—				558
Net interest income		$	12,554			$	425			$	—			$	931			$	(1,116	)		$	12,794
Provision for (release of) loan losses			(35	)			53				—				—				—				18
Noninterest income			1,329				291				1,053				—				—				2,673
Noninterest expense			8,397				957				725				338				—				10,417
Net income before taxes		$	5,521			$	(294	)		$	328			$	593			$	(1,116	)		$	5,032
Income tax provision (benefit)			1,191				—				—				(110	)			—				1,081
Net income		$	4,330			$	(294	)		$	328			$	703			$	(1,116	)		$	3,951
(Dollars in thousands)		Commercial								Investment
Nine months ended September 30, 2023		and Retail				Mortgage				advisory and
		Banking				Banking				non-deposit				Corporate				Eliminations				Consolidated
Dividend and Interest Income		$	49,569			$	2,525			$	—			$	4,018			$	(3,991	)		$	52,121
Interest expense			13,974				677				—				873				—				15,524
Net interest income		$	35,595			$	1,848			$	—			$	3,145			$	(3,991	)		$	36,597
Provision for credit losses			369				361				—				—				—				730
Noninterest income			3,115				1,040				3,335				—				—				7,490
Noninterest expense			26,474				2,648				2,310				1,032				—				32,464
Net income before taxes		$	11,867			$	(121	)		$	1,025			$	2,113			$	(3,991	)		$	10,893
Income tax provision (benefit)			2,743				—				—				(396	)			—				2,347
Net income (loss)		$	9,124			$	(121	)		$	1,025			$	2,509			$	(3,991	)		$	8,546

(Dollars in thousands)		Commercial								Investment
Nine months ended September 30, 2022		and Retail				Mortgage				advisory and
		Banking				Banking				non-deposit				Corporate				Eliminations				Consolidated
Dividend and Interest Income		$	34,736			$	1,311			$	—			$	3,295			$	(3,282	)		$	36,060
Interest expense			1,015				41				—				426				—				1,482
Net interest income		$	33,721			$	1,270			$	—			$	2,869			$	(3,282	)		$	34,578
Provision for (release of) credit losses			(270	)			93				—				—				—				(177	)
Noninterest income			3,996				1,614				3,446				—				—				9,056
Noninterest expense			24,744				2,808				2,263				744				—				30,559
Net income before taxes		$	13,243			$	(17	)		$	1,183			$	2,125			$	(3,282	)		$	13,252
Income tax provision (benefit)			2,930				—				—				(248	)			—				2,682
Net income (loss)		$	10,313			$	(17	)		$	1,183			$	2,373			$	(3,282	)		$	10,570
		Commercial								Investment
(Dollars in thousands)		and Retail				Mortgage				advisory and
		Banking				Banking				non-deposit				Corporate				Eliminations				Consolidated
Total Assets as of September 30, 2023		$	1,700,743			$	91,923			$	6			$	166,160			$	(165,110	)		$	1,793,722
Total Assets as of December 31, 2022		$	1,616,173			$	55,845			$	—			$	165,937			$	(165,009	)		$	1,672,946

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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 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: 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 3: 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 4: 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

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X

- References

No definition available.

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