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Business Segments | 6 Months Ended
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Jun. 30, 2023
Business Segments [Abstract] |
Business Segments | Note 7 – Business Segments The Company has three reportable business segments: (i) a traditional full-service community banking segment, (ii) a mortgage loan origination business, and (iii) a registered investment advisory business (sometimes referred to as the wealth management business). The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000 and other areas within Central Virginia. The mortgage segment provides a variety of mortgage loan products principally within Region 2000. Mortgage loans are originated and sold in the secondary market through purchase commitments from investors with servicing released. Because of the pre-arranged purchase commitments, there is minimal risk to the Company. The investment advisory business offers investment advisory services through Financial’s wholly-owned subsidiary, Pettyjohn, Wood & White, Inc. All of the Company’s reportable segments are service based. The mortgage business is a gain on sale business and the investment advisory business is fee for service based, while the Bank’s primary source of revenue is net interest income. The Bank also provides a referral network for the mortgage origination business and the investment advisory business. The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate. Information about reportable business segments and reconciliation of such information to the consolidated financial statements for the three and six months ended June 30, 2023 and 2022 was as follows (dollars in thousands): ‎ Note 7 – Business Segments (continued)
Business Segments |  |  |  |  | Investment |  |
| Community |  |  |  | Advisory |  |
| Banking |  | Mortgage |  | Services |  | Total
For the three months ended June 30, 2023 |  |  |  |  |  |  |
Net interest income | $ 7,345 |  | $ - |  | $ - |  | $ 7,345
Recovery of credit losses | (254) |  | - |  | - |  | (254)
Net interest income after recovery of credit losses | 7,599 |  | - |  | - |  | 7,599
Noninterest income | 1,249 |  | 1,153 |  | 1,042 |  | 3,444
Noninterest expenses | 6,362 |  | 876 |  | 638 |  | 7,876
Income before income taxes | 2,486 |  | 277 |  | 404 |  | 3,167
Income tax expense | 490 |  | 58 |  | 85 |  | 633
Net income | $ 1,996 |  | $ 219 |  | $ 319 |  | $ 2,534
Total assets | $ 933,117 |  | $ 6,711 |  | $ 11,068 |  | $ 950,896
For the three months ended June 30, 2022 |  |  |  |  |  |  |
Net interest income | $ 7,124 |  | $ - |  | $ - |  | $ 7,124
Recovery of credit losses | (300) |  | - |  | - |  | (300)
Net interest income after recovery of credit losses | 7,424 |  | - |  | - |  | 7,424
Noninterest income | 774 |  | 1,299 |  | 961 |  | 3,034
Noninterest expenses | 5,874 |  | 1,159 |  | 559 |  | 7,592
Income before income taxes | 2,324 |  | 140 |  | 402 |  | 2,866
Income tax expense | 459 |  | 30 |  | 85 |  | 574
Net income | $ 1,865 |  | $ 110 |  | $ 317 |  | $ 2,292
Total assets | $ 941,294 |  | $ 5,141 |  | $ 13,142 |  | $ 959,577
|  |  |  |  | Investment |  |
| Community |  |  |  | Advisory |  |
| Banking |  | Mortgage |  | Services |  | Total
For the six months ended June 30, 2023 |  |  |  |  |  |  |
Net interest income | $ 14,987 |  | $ - |  | $ - |  | $ 14,987
Recovery of credit losses | (114) |  | - |  | - |  | (114)
Net interest income after recovery of credit losses | 15,101 |  | - |  | - |  | 15,101
Noninterest income | 2,364 |  | 2,076 |  | 2,048 |  | 6,488
Noninterest expenses | 13,090 |  | 1,632 |  | 1,229 |  | 15,951
Income before income taxes | 4,375 |  | 444 |  | 819 |  | 5,638
Income tax expense | 855 |  | 93 |  | 172 |  | 1,120
Net income | $ 3,520 |  | $ 351 |  | $ 647 |  | $ 4,518
Total assets | $ 933,117 |  | $ 6,711 |  | $ 11,068 |  | $ 950,896
For the six months ended June 30, 2022 |  |  |  |  |  |  |
Net interest income | $ 13,514 |  | $ - |  | $ - |  | $ 13,514
Recovery of credit losses | (600) |  | - |  | - |  | (600)
Net interest income after recovery of credit losses | 14,114 |  | - |  | - |  | 14,114
Noninterest income | 1,486 |  | 3,203 |  | 1,976 |  | 6,665
Noninterest expenses | 11,501 |  | 2,609 |  | 1,130 |  | 15,240
Income before income taxes | 4,099 |  | 594 |  | 846 |  | 5,539
Income tax expense | 805 |  | 125 |  | 178 |  | 1,108
Net income | $ 3,294 |  | $ 469 |  | $ 668 |  | $ 4,431
Total assets | $ 941,294 |  | $ 5,141 |  | $ 13,142 |  | $ 959,577

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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