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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]  
Segment Reporting

17.

SEGMENT REPORTING

Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of Bancshares: the Bank and ALC. The reportable segments were determined using the internal management reporting system. These segments comprise Bancshares’ and the Bank’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies.” The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below:

 

 

 

2020

 

 

 

Bank

 

 

ALC

 

 

All Other

 

 

Eliminations

 

 

Consolidated

 

 

 

(Dollars in Thousands)

 

Total interest income

 

$

31,834

 

 

$

11,397

 

 

$

22

 

 

$

(2,876

)

 

$

40,377

 

Total interest expense

 

 

4,632

 

 

 

2,855

 

 

 

—

 

 

 

(2,876

)

 

 

4,611

 

Net interest income

 

 

27,202

 

 

 

8,542

 

 

 

22

 

 

 

—

 

 

 

35,766

 

Provision for loan and lease losses

 

 

2,206

 

 

 

739

 

 

 

—

 

 

 

—

 

 

 

2,945

 

Net interest income after provision

 

 

24,996

 

 

 

7,803

 

 

 

22

 

 

 

—

 

 

 

32,821

 

Total non-interest income

 

 

4,531

 

 

 

752

 

 

 

4,061

 

 

 

(4,334

)

 

 

5,010

 

Total non-interest expense

 

 

25,180

 

 

 

8,136

 

 

 

1,565

 

 

 

(582

)

 

 

34,299

 

Income (loss) before income taxes

 

 

4,347

 

 

 

419

 

 

 

2,518

 

 

 

(3,752

)

 

 

3,532

 

Provision for income taxes

 

 

930

 

 

 

125

 

 

 

(230

)

 

 

—

 

 

 

825

 

Net income (loss)

 

$

3,417

 

 

$

294

 

 

$

2,748

 

 

$

(3,752

)

 

$

2,707

 

Other significant items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

893,430

 

 

$

55,727

 

 

$

91,866

 

 

$

(150,512

)

 

$

890,511

 

Total investment securities

 

 

91,342

 

 

 

—

 

 

 

80

 

 

 

—

 

 

 

91,422

 

Total loans, net

 

 

632,996

 

 

 

53,078

 

 

 

—

 

 

 

(47,700

)

 

 

638,374

 

Goodwill and core deposit intangible, net

 

 

8,410

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,410

 

Investment in subsidiaries

 

 

—

 

 

 

—

 

 

 

86,102

 

 

 

(86,102

)

 

 

—

 

Fixed asset additions

 

 

870

 

 

 

85

 

 

 

—

 

 

 

—

 

 

 

955

 

Depreciation and amortization expense

 

 

1,563

 

 

 

121

 

 

 

—

 

 

 

—

 

 

 

1,684

 

Total interest income from external customers

 

 

28,979

 

 

 

11,397

 

 

 

1

 

 

 

—

 

 

 

40,377

 

Total interest income from affiliates

 

 

2,855

 

 

 

—

 

 

 

21

 

 

 

(2,876

)

 

 

—

 

 

 

 

2019

 

 

 

Bank

 

 

ALC

 

 

All Other

 

 

Eliminations

 

 

Consolidated

 

 

 

(Dollars in Thousands)

 

Total interest income

 

$

30,921

 

 

$

17,719

 

 

$

26

 

 

$

(5,078

)

 

$

43,588

 

Total interest expense

 

 

6,670

 

 

 

5,054

 

 

 

—

 

 

 

(5,078

)

 

 

6,646

 

Net interest income

 

 

24,251

 

 

 

12,665

 

 

 

26

 

 

 

—

 

 

 

36,942

 

Provision for loan and lease losses

 

 

788

 

 

 

1,926

 

 

 

—

 

 

 

—

 

 

 

2,714

 

Net interest income after provision

 

 

23,463

 

 

 

10,739

 

 

 

26

 

 

 

—

 

 

 

34,228

 

Total non-interest income

 

 

4,559

 

 

 

909

 

 

 

6,039

 

 

 

(6,141

)

 

 

5,366

 

Total non-interest expense

 

 

23,065

 

 

 

9,599

 

 

 

1,769

 

 

 

(651

)

 

 

33,782

 

Income (loss) before income taxes

 

 

4,957

 

 

 

2,049

 

 

 

4,296

 

 

 

(5,490

)

 

 

5,812

 

Provision for income taxes

 

 

977

 

 

 

516

 

 

 

(247

)

 

 

—

 

 

 

1,246

 

Net income (loss)

 

$

3,980

 

 

$

1,533

 

 

$

4,543

 

 

$

(5,490

)

 

$

4,566

 

Other significant items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

789,620

 

 

$

110,374

 

 

$

90,211

 

 

$

(201,467

)

 

$

788,738

 

Total investment securities

 

 

108,276

 

 

 

—

 

 

 

80

 

 

 

—

 

 

 

108,356

 

Total loans, net

 

 

534,478

 

 

 

106,533

 

 

 

—

 

 

 

(95,768

)

 

 

545,243

 

Goodwill and core deposit intangible, net

 

 

8,825

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,825

 

Investment in subsidiaries

 

 

—

 

 

 

—

 

 

 

84,186

 

 

 

(84,186

)

 

 

—

 

Fixed asset additions

 

 

2,948

 

 

 

236

 

 

 

—

 

 

 

—

 

 

 

3,184

 

Depreciation and amortization expense

 

 

1,464

 

 

 

145

 

 

 

—

 

 

 

—

 

 

 

1,609

 

Total interest income from external customers

 

 

25,867

 

 

 

17,719

 

 

 

2

 

 

 

—

 

 

 

43,588

 

Total interest income from affiliates

 

 

5,054

 

 

 

—

 

 

 

24

 

 

 

(5,078

)

 

 

—