XML 31 R22.htm IDEA: XBRL DOCUMENT
v3.23.1

Segment Reporting | 3 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] |
Segment Reporting | 13. 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, 2022, as amended in 2023 by the adoption of ASC 326 as discussed in Note 2, “Basis of Presentation,” in the Notes to the Interim Consolidated Financial Statements included in this Quarterly Report on Form 10-Q. 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 March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total interest income |  | $ | 11,506 |  |  | $ | 659 |  |  | $ | 1 |  |  | $ | (206 | ) |  | $ | 11,960 |
Total interest expense |  |  | 2,412 |  |  |  | 205 |  |  |  | 115 |  |  |  | (206 | ) |  |  | 2,526 |
Net interest income |  |  | 9,094 |  |  |  | 454 |  |  |  | (114 | ) |  |  | — |  |  |  | 9,434 |
Provision for credit losses |  |  | 269 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 269 |
Net interest income after provision |  |  | 8,825 |  |  |  | 454 |  |  |  | (114 | ) |  |  | — |  |  |  | 9,165 |
Total non-interest income |  |  | 831 |  |  |  | 17 |  |  |  | 2,397 |  |  |  | (2,416 | ) |  |  | 829 |
Total non-interest expense |  |  | 6,671 |  |  |  | 320 |  |  |  | 298 |  |  |  | (19 | ) |  |  | 7,270 |
Income before income taxes |  |  | 2,985 |  |  |  | 151 |  |  |  | 1,985 |  |  |  | (2,397 | ) |  |  | 2,724 |
Provision for income taxes |  |  | 701 |  |  |  | 38 |  |  |  | (87 | ) |  |  | — |  |  |  | 652 |
Net income |  | $ | 2,284 |  |  | $ | 113 |  |  | $ | 2,072 |  |  | $ | (2,397 | ) |  | $ | 2,072 |
Other significant items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 1,025,683 |  |  | $ | 16,128 |  |  | $ | 95,018 |  |  | $ | (110,171 | ) |  | $ | 1,026,658 |
Total investment securities |  |  | 128,689 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 128,689 |
Total loans, net |  |  | 764,347 |  |  |  | 14,882 |  |  |  | — |  |  |  | (14,939 | ) |  |  | 764,290 |
Goodwill and core deposit intangible, net |  |  | 7,746 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,746 |
Investment in subsidiaries |  |  | — |  |  |  | — |  |  |  | 92,210 |  |  |  | (92,210 | ) |  |  | — |
Fixed asset additions |  |  | 139 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 139 |
Depreciation and amortization expense |  |  | 405 |  |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 412 |
Total interest income from external customers |  |  | 11,301 |  |  |  | 659 |  |  |  | — |  |  |  | — |  |  |  | 11,960 |
Total interest income from affiliates |  |  | 205 |  |  |  | — |  |  |  | 1 |  |  |  | (206 | ) |  |  | — |
|  |  |  |  |  |  |  | All |  |  |  |  |  |  |
|  | Bank |  |  | ALC |  |  | Other |  |  | Eliminations |  |  | Consolidated |
|  | (Dollars in Thousands) |
As of and for the three months ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total interest income |  | $ | 8,125 |  |  | $ | 1,589 |  |  | $ | 1 |  |  | $ | (334 | ) |  | $ | 9,381 |
Total interest expense |  |  | 559 |  |  |  | 333 |  |  |  | 114 |  |  |  | (334 | ) |  |  | 672 |
Net interest income |  |  | 7,566 |  |  |  | 1,256 |  |  |  | (113 | ) |  |  | — |  |  |  | 8,709 |
Provision for loan and lease losses |  |  | (135 | ) |  |  | 856 |  |  |  | — |  |  |  | — |  |  |  | 721 |
Net interest income after provision |  |  | 7,701 |  |  |  | 400 |  |  |  | (113 | ) |  |  | — |  |  |  | 7,988 |
Total non-interest income |  |  | 855 |  |  |  | 70 |  |  |  | 1,648 |  |  |  | (1,744 | ) |  |  | 829 |
Total non-interest expense |  |  | 6,285 |  |  |  | 544 |  |  |  | 296 |  |  |  | (69 | ) |  |  | 7,056 |
Income (loss) before income taxes |  |  | 2,271 |  |  |  | (74 | ) |  |  | 1,239 |  |  |  | (1,675 | ) |  |  | 1,761 |
Provision for income taxes |  |  | 502 |  |  |  | (19 | ) |  |  | (83 | ) |  |  | — |  |  |  | 400 |
Net income (loss) |  | $ | 1,769 |  |  | $ | (55 | ) |  | $ | 1,322 |  |  | $ | (1,675 | ) |  | $ | 1,361 |
Other significant items: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 972,318 |  |  | $ | 33,518 |  |  | $ | 104,414 |  |  | $ | (141,604 | ) |  | $ | 968,646 |
Total investment securities |  |  | 137,655 |  |  |  | — |  |  |  | 81 |  |  |  | — |  |  |  | 137,736 |
Total loans, net |  |  | 669,569 |  |  |  | 32,237 |  |  |  | — |  |  |  | (31,960 | ) |  |  | 669,846 |
Goodwill and core deposit intangible, net |  |  | 7,996 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,996 |
Investment in subsidiaries |  |  | — |  |  |  | — |  |  |  | 93,963 |  |  |  | (93,963 | ) |  |  | — |
Fixed asset additions |  |  | 118 |  |  |  | 0 |  |  |  | — |  |  |  | — |  |  |  | 118 |
Depreciation and amortization expense |  |  | 377 |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | 387 |
Total interest income from external customers |  |  | 7,792 |  |  |  | 1,589 |  |  |  | — |  |  |  | — |  |  |  | 9,381 |
Total interest income from affiliates |  |  | 333 |  |  |  | — |  |  |  | 1 |  |  |  | (334 | ) |  |  | — |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingDisclosureOfEntitysReportableSegmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration