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Segment Reporting

6 Months Ended

Jun. 30, 2022

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Reporting

14.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,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2021. 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.

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended June 30, 2022
Total interest income		$	8,503			$	1,296			$	1			$	(275	)		$	9,525
Total interest expense			585				274				115				(275	)			699
Net interest income			7,918				1,022				(114	)			—				8,826
Provision for loan and lease losses			480				415				—				—				895
Total non-interest income			876				60				1,718				(1,798	)			856
Total non-interest expense			6,193				438				303				(56	)			6,878
Income before income taxes			2,121				229				1,301				(1,742	)			1,909
Provision for income taxes			544				56				(106	)			—				494
Net income		$	1,577			$	173			$	1,407			$	(1,742	)		$	1,415
Other significant items:
Total assets		$	959,194			$	27,851			$	97,917			$	(129,577	)		$	955,385
Total investment securities			152,535				—				1				—				152,536
Total loans, net			705,488				26,695				—				(26,297	)			705,886
Goodwill and core deposit intangible, net			7,923				—				—				—				7,923
Investment in subsidiaries			—				—				89,088				(89,088	)			—
Fixed asset additions			223				—				—				—				223
Depreciation and amortization expense			383				9				—				—				392
Total interest income from external customers			8,229				1,296				—				—				9,525
Total interest income from affiliates			274				—				1				(275	)			—
For the six months ended June 30, 2022
Total interest income			16,628				2,885				2				(609	)			18,906
Total interest expense			1,144				607				229				(609	)			1,371
Net interest income			15,484				2,278				(227	)			0				17,535
Provision for loan and lease losses			345				1,271				—				—				1,616
Total non-interest income			1,731				130				3,366				(3,542	)			1,685
Total non-interest expense			12,478				982				599				(125	)			13,934
Income before income taxes			4,392				155				2,540				(3,417	)			3,670
Provision for income taxes			1,046				37				(189	)			—				894
Net income		$	3,346			$	118			$	2,729			$	(3,417	)		$	2,776
Other significant items:
Fixed asset additions		$	341			$	—			$	—			$	—			$	341
Depreciation and amortization expense			760				19				—				—				779
Total interest income from external customers			16,021				2,885				—				—				18,906
Total interest income from affiliates			607				—				2				(609	)			—

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended June 30, 2021
Total interest income		$	8,132			$	2,341			$	1			$	(415	)		$	10,059
Total interest expense			748				414				—				(415	)			747
Net interest income			7,384				1,927				1				—				9,312
Provision for loan and lease losses			515				(17	)			—				—				498
Total non-interest income			789				154				1,201				(1,335	)			809
Total non-interest expense			6,365				1,811				339				(116	)			8,399
Income before income taxes			1,293				287				863				(1,219	)			1,224
Provision for income taxes			275				71				(75	)			—				271
Net income		$	1,018			$	216			$	938			$	(1,219	)		$	953
Other significant items:
Total assets		$	949,711			$	51,836			$	94,203			$	(148,804	)		$	946,946
Total investment securities			123,502				—				81				—				123,583
Total loans, net			671,661				49,506				—				(43,411	)			677,756
Goodwill and core deposit intangible, net			8,227				—				—				—				8,227
Investment in subsidiaries			—				—				88,228				(88,228	)			—
Fixed asset additions			417				0				—				—				417
Depreciation and amortization expense			409				24				—				—				433
Total interest income from external customers			7,719				2,340				—				—				10,059
Total interest income from affiliates			413				—				2				(415	)			—
For the six months ended June 30, 2021
Total interest income			16,004				4,743				4				(847	)			19,904
Total interest expense			1,532				843				—				(847	)			1,528
Net interest income			14,472				3,900				4				—				18,376
Provision for loan and lease losses			820				79				—				—				899
Total non-interest income			1,613				304				2,497				(2,654	)			1,760
Total non-interest expense			12,642				3,649				748				(244	)			16,795
Income before income taxes			2,623				476				1,753				(2,410	)			2,442
Provision for income taxes			559				119				(139	)			—				539
Net income		$	2,064			$	357			$	1,892			$	(2,410	)		$	1,903
Other significant items:
Fixed asset additions		$	535			$	4			$	—			$	—			$	539
Depreciation and amortization expense			830				48				—				—				878
Total interest income from external customers			15,161				4,743				—				—				19,904
Total interest income from affiliates			843				—				4				(847	)			—

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- References

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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
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-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
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

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