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Reportable Segments
 9 Months Ended
Sep. 30, 2025
Reportable Segments  
Reportable Segments

(9) Reportable Segments

 

The Company has two reportable segments as described below:

 

Banking Operations – This segment reflects the consolidated Bank, excluding CBRES. The primary source of revenue for this segment is net interest income.

 

CBRES – A Bank subsidiary that provides appraisal management services to community banks. The primary source of revenue for this segment is appraisal management fee income.

 

The Bank’s executive management team, which is comprised of the Bank’s Chief Executive Officer, Chief Financial Officer and executive vice presidents, is the chief operating decision maker for the Company. The Bank’s executive management team reviews actual net income versus budgeted net income on a quarterly basis to assess segment performance.

 

The following table presents financial information for the reportable segments. Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below. Certain prior period amounts have been reclassified to conform to the current presentation. The information provided under the caption “Other” represents the parent company, which is not considered to be a reportable segment, is included to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP.

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 Banking

 

 

 

 

 

 

 

 

 

 Operations

 

 

 CBRES

 

 

Other

 

 

Consolidated

 

As of and for the three months ended September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$21,398

 

 

 

-

 

 

 

7

 

 

 

21,405

 

Interest expense

 

 

6,042

 

 

 

-

 

 

 

244

 

 

 

6,286

 

Net interest income

 

 

15,356

 

 

 

-

 

 

 

(237)

 

 

15,119

 

Provision for (recovery of) credit losses

 

 

530

 

 

 

-

 

 

 

-

 

 

 

530

 

Noninterest income

 

 

3,526

 

 

 

-

 

 

 

-

 

 

 

3,526

 

Appraisal management fee income

 

 

-

 

 

 

3,601

 

 

 

-

 

 

 

3,601

 

Salaries and employee benefits

 

 

6,767

 

 

 

238

 

 

 

89

 

 

 

7,094

 

Occupancy

 

 

2,273

 

 

 

5

 

 

 

-

 

 

 

2,278

 

Appraisal management fee expense

 

 

-

 

 

 

2,858

 

 

 

-

 

 

 

2,858

 

Noninterest expense

 

 

4,400

 

 

 

217

 

 

 

77

 

 

 

4,694

 

Income tax expense (benefit)

 

 

1,120

 

 

 

64

 

 

 

(84)

 

 

1,100

 

Net income (loss)

 

$3,792

 

 

 

219

 

 

 

(319)

 

 

3,692

 

Total assets

 

$1,732,531

 

 

 

5,042

 

 

 

763

 

 

 

1,738,336

 

As of and for the three months ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$20,458

 

 

 

-

 

 

 

9

 

 

 

20,467

 

Interest expense

 

 

6,635

 

 

 

-

 

 

 

283

 

 

 

6,918

 

Net interest income

 

 

13,823

 

 

 

-

 

 

 

(274)

 

 

13,549

 

Provision for (recovery of) credit losses

 

 

297

 

 

 

-

 

 

 

-

 

 

 

297

 

Noninterest income

 

 

4,022

 

 

 

-

 

 

 

-

 

 

 

4,022

 

Appraisal management fee income

 

 

-

 

 

 

3,073

 

 

 

-

 

 

 

3,073

 

Salaries and employee benefits

 

 

6,286

 

 

 

214

 

 

 

102

 

 

 

6,602

 

Occupancy

 

 

2,440

 

 

 

6

 

 

 

-

 

 

 

2,446

 

Appraisal management fee expense

 

 

-

 

 

 

2,436

 

 

 

-

 

 

 

2,436

 

Noninterest expense

 

 

3,261

 

 

 

204

 

 

 

67

 

 

 

3,532

 

Income tax expense (benefit)

 

 

1,417

 

 

 

49

 

 

 

(93)

 

 

1,373

 

Net income (loss)

 

$4,144

 

 

 

164

 

 

 

(350)

 

 

3,958

 

Total assets

 

$1,656,990

 

 

 

4,183

 

 

 

477

 

 

 

1,661,650

 

As of and for the nine months ended September, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$62,073

 

 

 

-

 

 

 

22

 

 

 

62,095

 

Interest expense

 

 

17,708

 

 

 

-

 

 

 

727

 

 

 

18,435

 

Net interest income

 

 

44,365

 

 

 

-

 

 

 

(705)

 

 

43,660

 

Provision for credit losses

 

 

585

 

 

 

-

 

 

 

-

 

 

 

585

 

Noninterest income

 

 

10,733

 

 

 

-

 

 

 

-

 

 

 

10,733

 

Appraisal management fee income

 

 

-

 

 

 

10,616

 

 

 

-

 

 

 

10,616

 

Salaries and employee benefits

 

 

20,128

 

 

 

638

 

 

 

284

 

 

 

21,050

 

Occupancy

 

 

6,348

 

 

 

16

 

 

 

-

 

 

 

6,364

 

Appraisal management fee expense

 

 

-

 

 

 

8,433

 

 

 

-

 

 

 

8,433

 

Noninterest expense

 

 

10,621

 

 

 

632

 

 

 

237

 

 

 

11,490

 

Income tax expense (benefit)

 

 

3,942

 

 

 

205

 

 

 

(257)

 

 

3,890

 

Net income (loss)

 

$13,474

 

 

 

692

 

 

 

(969)

 

 

13,197

 

Total assets

 

$1,732,531

 

 

 

5,042

 

 

 

763

 

 

 

1,738,336

 

As of and for the nine months ended September, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$60,321

 

 

 

-

 

 

 

26

 

 

 

60,347

 

Interest expense

 

 

19,228

 

 

 

-

 

 

 

850

 

 

 

20,078

 

Net interest income

 

 

41,093

 

 

 

-

 

 

 

(824)

 

 

40,269

 

Provision for (recovery of) credit losses

 

 

(80)

 

 

-

 

 

 

-

 

 

 

(80)

Noninterest income

 

 

11,986

 

 

 

-

 

 

 

-

 

 

 

11,986

 

Appraisal management fee income

 

 

-

 

 

 

8,668

 

 

 

-

 

 

 

8,668

 

Salaries and employee benefits

 

 

19,517

 

 

 

588

 

 

 

304

 

 

 

20,409

 

Occupancy

 

 

6,648

 

 

 

14

 

 

 

-

 

 

 

6,662

 

Appraisal management fee expense

 

 

-

 

 

 

6,863

 

 

 

-

 

 

 

6,863

 

Noninterest expense

 

 

9,948

 

 

 

565

 

 

 

216

 

 

 

10,729

 

Income tax expense (benefit)

 

 

3,681

 

 

 

147

 

 

 

(282)

 

 

3,546

 

Net income (loss)

 

$13,365

 

 

 

491

 

 

 

(1,062)

 

 

12,794

 

Total assets

 

$1,656,990

 

 

 

4,183

 

 

 

477

 

 

 

1,661,650