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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]  
Segment Reporting
16.
SEGMENT REPORTING

Bancshares is a bank holding company. Bancshares operates one banking subsidiary, the Bank. The Bank reporting unit is the only reportable segment of the Company. The Bank conducts a general commercial banking business and offers banking services such as demand, savings, individual retirement account and time deposits, personal and commercial loans, safe deposit box services and remote deposit capture. The Bank provides a wide range of commercial banking services to small- and medium-sized businesses, property managers, business executives, professionals and other individuals. The Bank also performs indirect lending through third-party retailers and currently conducts this lending in 17 states. Other than this indirect lending program, the Bank derives its revenue primarily in the southeast United States. The Bank does not have any customers that produce revenues of 10% or more.

The Company's chief operating decision makers (the "CODM") consist of a group of senior executive officers of Bancshares and the Bank that includes the chief executive officer, the chief financial officer, the chief retail, operations and technology officer, the chief risk officer, the chief commercial lending officer, and the chief consumer lending officer.

The CODM uses net income to evaluate income generated from segment assets in deciding whether to reinvest profits into the Bank segment or into other parts of the entity, such as for acquisitions or to pay dividends. Net income is used to monitor budget versus actual results. The CODM also uses net income in competitive analysis by benchmarking to the Company’s competitors. The competitive analysis along with the monitoring of budgeted versus actual results are used in assessing performance of the segment and in establishing management’s compensation.

The accounting policies of the Bank segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the Bank segment and decides how to allocate resources based on segment net income that also is reported on the consolidated statement of operations as consolidated net income. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets.

The table below provides information related to the Company's Bank operating segment for the three and nine months ended September 30, 2025 and 2024:

 

 

Bank Segment

 

 

 

For the three months ended September 30,

 

 

For the nine months ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(Dollars in Thousands)

 

 

(Dollars in Thousands)

 

Income:

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

15,281

 

 

$

15,017

 

 

$

44,153

 

 

$

43,840

 

Non-interest income

 

 

860

 

 

 

901

 

 

 

2,584

 

 

 

2,601

 

Total income

 

 

16,141

 

 

 

15,918

 

 

 

46,737

 

 

 

46,441

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

5,619

 

 

 

5,832

 

 

 

16,118

 

 

 

16,439

 

Provision for credit losses

 

 

566

 

 

 

152

 

 

 

3,811

 

 

 

152

 

Salaries and employee benefits

 

 

3,759

 

 

 

3,837

 

 

 

11,440

 

 

 

11,815

 

Net occupancy and equipment

 

 

987

 

 

 

958

 

 

 

2,799

 

 

 

2,806

 

Computer services

 

 

431

 

 

 

449

 

 

 

1,264

 

 

 

1,336

 

Insurance expense and assessments

 

 

348

 

 

 

348

 

 

 

1,098

 

 

 

1,153

 

Fees for professional services

 

 

363

 

 

 

299

 

 

 

1,048

 

 

 

1,004

 

Postage, stationery and supplies

 

 

132

 

 

 

106

 

 

 

421

 

 

 

420

 

Telephone/data communication

 

 

191

 

 

 

197

 

 

 

576

 

 

 

582

 

Collection and recoveries

 

 

69

 

 

 

47

 

 

 

235

 

 

 

107

 

Directors fees

 

 

103

 

 

 

81

 

 

 

297

 

 

 

262

 

Software amortization

 

 

115

 

 

 

62

 

 

 

330

 

 

 

239

 

Other real estate/foreclosure expense, net

 

 

153

 

 

 

31

 

 

 

197

 

 

 

92

 

Other segment items (1)

 

 

786

 

 

 

575

 

 

 

2,094

 

 

 

1,593

 

Provision for income taxes

 

 

583

 

 

 

722

 

 

 

1,146

 

 

 

1,985

 

Total expense

 

 

14,205

 

 

 

13,696

 

 

 

42,874

 

 

 

39,985

 

Segment net income

 

$

1,936

 

 

$

2,222

 

 

$

3,863

 

 

$

6,456

 

(1) Other segment items includes advertising expense, travel and business development expense, and life insurance expense.