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Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Business Segments

Schedule of segment reporting information, by segment

Year Ended December 31, 2024

Community

Mortgage

Consumer

(Dollars in thousands)

Banking

Banking

Finance

Other

Eliminations

Consolidated

Interest income

$

87,600

$

1,897

$

49,684

$

—

$

413

$

139,594

Interest expense

40,498

—

—

2,321

—

42,819

Net interest income before allocation

47,102

1,897

49,684

(2,321)

413

96,775

Net interest allocation¹

24,456

(796)

(23,660)

—

—

—

Net interest income

71,558

1,101

26,024

(2,321)

413

96,775

Gain on sales of loans

—

6,421

—

—

(357)

6,064

Other noninterest income

17,723

4,602

1,024

1,363

(238)

24,474

Net revenue

89,281

12,124

27,048

(958)

(182)

127,313

Less:

Provision for credit losses

1,650

—

11,600

—

—

13,250

Salaries and employee benefits

36,252

7,069

8,026

2,231

—

53,578

Occupancy expense

6,887

890

620

—

—

8,397

Data processing

8,927

1,012

1,328

47

—

11,314

Professional fees

2,834

103

312

362

—

3,611

Insurance expense

1,575

111

146

—

—

1,832

Marketing and advertising expenses

748

426

39

—

—

1,213

Loan processing and collection expenses

256

917

1,488

—

—

2,661

Provision for indemnifications

—

(460)

—

—

—

(460)

Other segment items²

5,395

528

1,577

350

(66)

7,784

Total noninterest expense

62,874

10,596

13,536

2,990

(66)

89,930

Income (loss) before taxes

24,757

1,528

1,912

(3,948)

(116)

24,133

Income tax expense (benefit)

4,473

420

498

(1,152)

(24)

4,215

Net income (loss)

$

20,284

$

1,108

$

1,414

$

(2,796)

$

(92)

$

19,918

Other data:

Total assets

$

2,449,641

$

29,837

$

472,672

$

31,823

$

(420,599)

$

2,563,374

Total loans held for investment, net

1,436,226

—

444,085

—

—

1,880,311

Total deposits

2,186,139

—

—

—

(15,279)

2,170,860

Capital expenditures

3,101

210

175

—

—

3,486

Depreciation and amortization

3,433

86

338

—

—

3,857

1	Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment.

2	Other segment items for each reportable segment include:

a.

Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses.

b.

Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.

c.

Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.


		Year Ended December 31, 2023
		Community			Mortgage			Consumer
(Dollars in thousands)		Banking			Banking			Finance			Other			Eliminations			Consolidated
Interest income		$	74,949		$	1,695		$	47,264		$	—		$	229		$	124,137
Interest expense			24,184			—			—			2,246			—			26,430
Net interest income before allocation			50,765			1,695			47,264			(2,246)			229			97,707
Net interest allocation¹			23,438			(612)			(22,826)			—			—			—
Net interest income			74,203			1,083			24,438			(2,246)			229			97,707
Gain on sales of loans			—			5,845			—			—			(65)			5,780
Other noninterest income			16,465			4,353			962			2,257			(202)			23,835
Net revenue			90,668			11,281			25,400			11			(38)			127,322

Less:
Provision for credit losses			1,625			—			6,650			—			—			8,275

Salaries and employee benefits			36,004			6,996			8,732			3,144			—			54,876
Occupancy expense			6,354			1,005			634			—			—			7,993
Data processing			8,564			1,008			1,280			22			—			10,874
Professional fees			2,149			101			310			192			—			2,752
Insurance expense			1,396			128			135			—			—			1,659
Marketing and advertising expenses			1,075			428			45			—			—			1,548
Loan processing and collection expenses			248			1,047			2,022			—			—			3,317
Provision for indemnifications			—			(585)			—			—			—			(585)
Other segment items²			5,023			560			1,658			267			(59)			7,449
Total noninterest expense			60,813			10,688			14,816			3,625			(59)			89,883

Income (loss) before taxes			28,230			593			3,934			(3,614)			21			29,164
Income tax expense (benefit)			5,302			128			1,055			(1,066)			(1)			5,418
Net income (loss)		$	22,928		$	465		$	2,879		$	(2,548)		$	22		$	23,746

Other data:
Total assets		$	2,319,810		$	22,177		$	476,671		$	35,581		$	(415,741)		$	2,438,498
Total loans held for investment, net			1,257,557			—			444,931			—			—			1,702,488
Total deposits			2,084,327			—			—			—			(18,197)			2,066,130
Capital expenditures			1,301			12			146			—			—			1,459
Depreciation and amortization			3,402			79			398			—			—			3,879

1	Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment.

2	Other segment items for each reportable segment include:

a.

Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses expense, net periodic pension cost, office supplies, and certain overhead expenses.

b.

Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.

c.

Consumer finance – licenses and other taxes expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.


		Year Ended December 31, 2022
		Community			Mortgage			Consumer
(Dollars in thousands)		Banking			Banking			Finance			Other			Eliminations			Consolidated
Interest income		$	56,782		$	2,036		$	42,441		$	—		$	95		$	101,354
Interest expense			5,532			—			—			2,358			—			7,890
Net interest income before allocation			51,250			2,036			42,441			(2,358)			95			93,464
Net interest allocation¹			15,786			(662)			(15,124)			—			—			—
Net interest income			67,036			1,374			27,317			(2,358)			95			93,464
Gain on sales of loans			—			7,963			—			—			(465)			7,498
Other noninterest income			19,250			4,856			1,050			(3,230)			(212)			21,714
Net revenue			86,286			14,193			28,367			(5,588)			(582)			122,676

Less:
Provision for credit losses			(600)			32			3,740			—			—			3,172

Salaries and employee benefits			33,770			7,599			8,939			(2,441)			—			47,867
Occupancy expense			6,633			1,271			660			—			—			8,564
Data processing			7,889			1,137			1,458			30			—			10,514
Professional fees			2,121			180			267			199			—			2,767
Insurance expense			858			61			130			—			—			1,049
Marketing and advertising expenses			1,185			518			102			—			—			1,805
Loan processing and collection expenses			199			1,683			2,096			—			—			3,978
Provision for indemnifications			—			(858)			—			—			—			(858)
Other segment items²			4,063			989			1,632			230			(60)			6,854
Total noninterest expense			56,718			12,580			15,284			(1,982)			(60)			82,540

Income (loss) before taxes			30,168			1,581			9,343			(3,606)			(522)			36,964
Income tax expense (benefit)			5,794			371			2,512			(973)			(109)			7,595
Net income (loss)		$	24,374		$	1,210		$	6,831		$	(2,633)		$	(413)		$	29,369

Other data:
Total assets		$	2,206,299		$	24,500		$	479,864		$	43,241		$	(421,587)		$	2,332,317
Total loans held for investment, net			1,145,940			671			448,589			—			—			1,595,200
Total deposits			2,029,951			—			—			—			(26,091)			2,003,860
Capital expenditures			3,265			66			17			—			—			3,348
Depreciation and amortization			3,720			226			410			—			—			4,356

1	Interest expense is allocated to the mortgage banking and consumer finance segments through borrowings from the community banking segment.

2	Other segment items for each reportable segment include:

a.

Community banking – licenses and other taxes expense, travel and education expense, telecommunications expense, other real estate owned losses and expense, net periodic pension cost, office supplies, and certain overhead expenses.

b.

Mortgage banking – licenses and other taxes expense, travel and education expense, telecommunications expense, office supplies, and certain overhead expenses.

c.

Consumer finance – licenses and taxes other expense, travel and education expense, telecommunications expense, payment processing expense, office supplies, and certain overhead expenses.