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Business Segments | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Business Segments | NOTE 16. Business Segments The Company has two reportable operating segments: community banking and marine lending. Revenue from community banking operations consist primarily of net interest income related to investments in loan and securities and outstanding deposits and borrowings, fees earned on deposit accounts and debit card interchange activity. Revenue from marine lending operations consist primarily of net interest income related to commercial and consumer marine loans and gains on sales of loans. Financial information of the parent company and the Bank of Clarke Wealth Management Division is included in the "All Other" category. The parent company's revenue and expenses are comprised primarily of interest expense associated with subordinated debt. The wealth management division's net recenues are comprised primarily of income from offering wealth management services and insurance products through third-party service providers. The following table provides income and asset information as of June 30, 2023 and December 31, 2022 and for the three and six months ended June 30, 2023 and June 30, 2022, which are included within the Consolidated Balance Sheets and Consolidated Statements of Income. The results by business segment are based on management’s accounting process, which assigns income statement items and assets to each operating segment. Given the Company's reportable segments are contained within the Bank, management must make certain allocations of expenses, which may not be representative of the costs expected to be incurred if the specific business segments operated as stand-alone entities.
|  | Three Months Ended |
|  | June 30, 2023 |
|  | Community Banking |  |  | Marine Lending |  |  | All Other |  |  | Eliminations |  |  | Consolidated |
|  | (in thousands) |
Interest Income |  | $ | 16,459 |  |  | $ | 3,905 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,364 |
Interest Expense |  |  | 6,085 |  |  |  | 1,482 |  |  |  | 355 |  |  |  | — |  |  |  | 7,922 |
Net Interest Income |  |  | 10,374 |  |  |  | 2,423 |  |  |  | (355 | ) |  |  | — |  |  |  | 12,442 |
Gain on sales of loans |  |  | 122 |  |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | 192 |
Other noninterest income |  |  | 2,031 |  |  |  | (129 | ) |  |  | 1,263 |  |  |  | — |  |  |  | 3,165 |
Net Revenue |  |  | 12,527 |  |  |  | 2,364 |  |  |  | 908 |  |  |  | — |  |  |  | 15,799 |
Provision for credit losses |  |  | 446 |  |  |  | (43 | ) |  |  | — |  |  |  | — |  |  |  | 403 |
Noninterest expense |  |  | 10,756 |  |  |  | 1,358 |  |  |  | 841 |  |  |  | — |  |  |  | 12,955 |
Income (loss) before taxes |  |  | 1,325 |  |  |  | 1,049 |  |  |  | 67 |  |  |  | — |  |  |  | 2,441 |
Income tax expense (benefit) |  |  | 149 |  |  |  | 220 |  |  |  | 14 |  |  |  | — |  |  |  | 383 |
Net Income (loss) |  | $ | 1,176 |  |  | $ | 829 |  |  | $ | 53 |  |  | $ | — |  |  | $ | 2,058 |
Other data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 490 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | 509 |
Depreciation and amortization |  |  | 218 |  |  |  | 97 |  |  |  | 49 |  |  |  | — |  |  |  | 364 |
|  | Three Months Ended |
|  | June 30, 2022 |
|  | Community Banking |  |  | Marine Lending |  |  | All Other |  |  | Eliminations |  |  | Consolidated |
|  | (in thousands) |
Interest Income |  | $ | 11,051 |  |  | $ | 1,596 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,647 |
Interest Expense |  |  | 355 |  |  |  | 35 |  |  |  | 338 |  |  |  | — |  |  |  | 728 |
Net Interest Income |  |  | 10,696 |  |  |  | 1,561 |  |  |  | (338 | ) |  |  | — |  |  |  | 11,919 |
Gain on sales of loans |  |  | 121 |  |  |  | 377 |  |  |  | — |  |  |  | — |  |  |  | 498 |
Other noninterest income |  |  | 2,239 |  |  |  | 51 |  |  |  | 1,061 |  |  |  | — |  |  |  | 3,351 |
Net Revenue |  |  | 13,056 |  |  |  | 1,989 |  |  |  | 723 |  |  |  | — |  |  |  | 15,768 |
Provision for credit losses |  |  | 174 |  |  |  | 186 |  |  |  | — |  |  |  | — |  |  |  | 360 |
Noninterest expense |  |  | 9,008 |  |  |  | 662 |  |  |  | 858 |  |  |  | — |  |  |  | 10,528 |
Income (loss) before taxes |  |  | 3,874 |  |  |  | 1,141 |  |  |  | (135 | ) |  |  | — |  |  |  | 4,880 |
Income tax expense (benefit) |  |  | 676 |  |  |  | 240 |  |  |  | (28 | ) |  |  | — |  |  |  | 888 |
Net Income (loss) |  | $ | 3,198 |  |  | $ | 901 |  |  | $ | (107 | ) |  | $ | — |  |  | $ | 3,992 |
Other data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 77 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 77 |
Depreciation and amortization |  |  | 273 |  |  |  | 51 |  |  |  | 47 |  |  |  | — |  |  |  | 371 |
|  | Six Months Ended |
|  | June 30, 2023 |
|  | Community Banking |  |  | Marine Lending |  |  | All Other |  |  | Eliminations |  |  | Consolidated |
|  | (in thousands) |
Interest Income |  | $ | 31,700 |  |  | $ | 7,222 |  |  | $ | — |  |  | $ | — |  |  | $ | 38,922 |
Interest Expense |  |  | 10,452 |  |  |  | 2,675 |  |  |  | 709 |  |  |  | — |  |  |  | 13,836 |
Net Interest Income |  |  | 21,248 |  |  |  | 4,547 |  |  |  | (709 | ) |  |  | — |  |  |  | 25,086 |
Gain on sales of loans |  |  | 336 |  |  |  | 312 |  |  |  | — |  |  |  | — |  |  |  | 648 |
Other noninterest income |  |  | 3,721 |  |  |  | 93 |  |  |  | 2,421 |  |  |  | — |  |  |  | 6,235 |
Net Revenue |  |  | 25,305 |  |  |  | 4,952 |  |  |  | 1,712 |  |  |  | — |  |  |  | 31,969 |
Provision for credit losses |  |  | 952 |  |  |  | 115 |  |  |  | — |  |  |  | — |  |  |  | 1,067 |
Noninterest expense |  |  | 21,116 |  |  |  | 2,640 |  |  |  | 1,585 |  |  |  | — |  |  |  | 25,341 |
Income (loss) before taxes |  |  | 3,237 |  |  |  | 2,197 |  |  |  | 127 |  |  |  | — |  |  |  | 5,561 |
Income tax expense (benefit) |  |  | 430 |  |  |  | 461 |  |  |  | 27 |  |  |  | — |  |  |  | 918 |
Net Income (loss) |  | $ | 2,807 |  |  | $ | 1,736 |  |  | $ | 100 |  |  | $ | — |  |  | $ | 4,643 |
Other data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 480 |  |  | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 516 |
Depreciation and amortization |  |  | 638 |  |  |  | 192 |  |  |  | 97 |  |  |  | — |  |  |  | 927 |
|  | Six Months Ended |
|  | June 30, 2022 |
|  | Community Banking |  |  | Marine Lending |  |  | All Other |  |  | Eliminations |  |  | Consolidated |
|  | (in thousands) |
Interest Income |  | $ | 21,457 |  |  | $ | 2,699 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,156 |
Interest Expense |  |  | 671 |  |  |  | 89 |  |  |  | 338 |  |  |  | — |  |  |  | 1,098 |
Net Interest Income |  |  | 20,786 |  |  |  | 2,610 |  |  |  | (338 | ) |  |  | — |  |  |  | 23,058 |
Gain on sales of loans |  |  | 252 |  |  |  | 724 |  |  |  | — |  |  |  | — |  |  |  | 976 |
Other noninterest income |  |  | 4,099 |  |  |  | 35 |  |  |  | 1,982 |  |  |  | — |  |  |  | 6,116 |
Net Revenue |  |  | 25,137 |  |  |  | 3,369 |  |  |  | 1,644 |  |  |  | — |  |  |  | 30,150 |
Provision for credit losses |  |  | 590 |  |  |  | 310 |  |  |  | — |  |  |  | — |  |  |  | 900 |
Noninterest expense |  |  | 17,557 |  |  |  | 1,287 |  |  |  | 1,607 |  |  |  | — |  |  |  | 20,451 |
Income (loss) before taxes |  |  | 6,990 |  |  |  | 1,772 |  |  |  | 37 |  |  |  | — |  |  |  | 8,799 |
Income tax expense (benefit) |  |  | 1,177 |  |  |  | 372 |  |  |  | 8 |  |  |  | — |  |  |  | 1,557 |
Net Income (loss) |  | $ | 5,813 |  |  | $ | 1,400 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 7,242 |
Other data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | $ | 384 |  |  | $ | 8 |  |  | $ | 16 |  |  | $ | — |  |  | $ | 408 |
Depreciation and amortization |  |  | 646 |  |  |  | 93 |  |  |  | 79 |  |  |  | — |  |  |  | 818 |
|  | Community Banking |  |  | Marine Lending |  |  | All Other |  |  | Eliminations |  |  | Consolidated |
Total assets at June 30, 2023 |  | $ | 1,467,487 |  |  | $ | 307,420 |  |  | $ | 1,809 |  |  | $ | — |  |  | $ | 1,776,716 |
Total assets at December 31, 2022 |  | $ | 1,377,461 |  |  | $ | 237,595 |  |  | $ | 1,661 |  |  | $ | — |  |  | $ | 1,616,717 |

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