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Business Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of reportable operating segments

The following tables provide income and asset information as of March 31, 2025 and December 31, 2024 and for three months ended March 31, 2025 and 2024, which are included within the Consolidated Balance Sheets and Consolidated Statements of Operations.

		Three Months Ended
		March 31, 2025
		Community Banking				Marine Lending				Wealth Management				All Other				Eliminations				Consolidated
		(in thousands)
Interest Income		$	20,796			$	2,706			$	—			$	—			$	—			$	23,502
Interest Expense			8,616				1,196				—				354				—				10,166
Net Interest Income (Expense)			12,180				1,510				—				(354	)			—				13,336
Gain on sales of loans			429				—				—				—				—				429
(Loss) on the sale of securities			(12,425	)			—				—				—				—				(12,425	)
Other noninterest income			1,718				—				1,724				—				—				3,442
Net Revenue (Expense)			1,902				1,510				1,724				(354	)			—				4,782
Provision for (recovery of) credit losses			1,377				(144	)			—				—				—				1,233
Salaries and employee benefits			6,695				—				458				26				—				7,179
Occupancy expenses			642				—				20				—				—				662
Professional fees			499				—				—				64				—				563
Data processing fees			530				—				20				—				—				550
Other noninterest expense			3,346				104				185				—				—				3,635
Total Noninterest Expenses			11,712				104				683				90				—				12,589
(Loss) income before taxes			(11,187	)			1,550				1,041				(444	)			—				(9,040	)
Income tax (benefit) expense			(2,506	)			326				219				(105	)			—				(2,066	)
Net (Loss) Income		$	(8,681	)		$	1,224			$	822			$	(339	)		$	—			$	(6,974	)
Other data:
Capital expenditures		$	537			$	—			$	—			$	—			$	—			$	537
Depreciation and amortization			394				—				32				17				—				443
		Three Months Ended
		March 31, 2024
		Community Banking				Marine Lending				Wealth Management				All Other				Eliminations				Consolidated
		(in thousands)
Interest Income		$	18,441			$	3,462			$	—			$	—			$	—			$	21,903
Interest Expense			7,694				1,440				—				354				—				9,488
Net Interest Income (Expense)			10,747				2,022				—				(354	)			—				12,415
Gain on sales of loans			161				—				—				—				—				161
Other noninterest income			1,863				—				1,456				—				—				3,319
Net Revenue (Expense)			12,771				2,022				1,456				(354	)			—				15,895
Provision for credit losses			86				389				—				—				—				475
Salaries and employee benefits			6,712				22				426				25				—				7,185
Occupancy expenses			546				—				23				—				—				569
Professional fees			418				—				—				88				—				506
Data processing fees			564				—				1				—				—				565
Other noninterest expense			3,134				196				222				—				—				3,552
Total Noninterest Expenses			11,374				218				672				113				—				12,377
Income (loss) before taxes			1,311				1,415				784				(467	)			—				3,043
Income tax expense (benefit)			116				297				165				(83	)			—				495
Net Income (Loss)		$	1,195			$	1,118			$	619			$	(384	)		$	—			$	2,548
Other data:

Capital expenditures		$	91			$	—			$	3			$	—			$	—			$	94
Depreciation and amortization			338				—				32				17				—				387

		Community Banking				Marine Lending				Wealth Management				All Other				Eliminations				Consolidated
Total assets at March 31, 2025		$	1,687,393			$	209,694			$	923			$	6,467			$	—			$	1,904,477
Total assets at December 31, 2024			1,645,219				218,055				955				1,986				—				1,866,215

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

+ Details

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