XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.3
DISCONTINUED OPERATIONS
 9 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
During the third quarter of 2022, the Company discontinued the Bank’s nationwide residential mortgage loan production operations. The decision was based on a number of strategic priorities and other factors, including the precipitous decline in mortgage volumes and the uncertain outlook for mortgage lending over future periods. As a result of these actions, the Company classified the operations of the residential mortgage lending division as discontinued under ASC 205-20. The Consolidated Balance Sheets, Consolidated Statements of Income, and Consolidated Statements of Cash Flows present discontinued operations for the current periods and retrospectively for prior periods.
The following is a summary of the assets and liabilities of the discontinued operations of the residential mortgage lending division at September 30, 2024 and December 31, 2023:
September 30, 2024December 31, 2023
Assets
Right-of-use operating lease asset$— $348 
Total assets$— $348 
Liabilities
Operating lease liability$— $620 
Total liabilities$— $620 
The following presents operating results of the discontinued operations of the residential mortgage lending division for the three and nine months ended September 30, 2024 and September 30, 2023:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Interest income$— $— $— $1 
Noninterest income— — 51 (2)
Total net revenue— — 51 (1)
Noninterest expense— 62 143 274 
Loss from discontinued operations before income taxes— (62)(92)(275)
Income tax benefit— (15)(23)(68)
Net loss from discontinued operations$— $(47)$(69)$(207)