Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

Note 15 – Segment Reporting

We are in the business of providing financial services and subsequent to the acquisition of Severn in the fourth quarter of 2021 we operate in two business segments – community banking and mortgage-banking. Community banking is conducted through the Bank and involves delivering a broad range of financial services, including lending and deposit taking, to individuals and commercial enterprises. This segment also includes our treasury and administrative functions. Mortgage-banking is conducted through the residential mortgage division of the Bank and involves originating first and second-lien residential mortgages for sale in the secondary market.

The following tables present certain information regarding our business segments for the three months ended March 31, 2022.

	Community				Consolidated
(Dollars in thousands)	Banking		Mortgage Banking		Total
March 31, 2022
Interest Income	$	22,433	$	1,891	$	24,324
Interest Expense		1,815		79		1,894
Net interest income		20,618		1,812		22,430
Provision for credit losses		600		—		600
Net interest income after provision for credit losses		20,018		1,812		21,830
Noninterest income		4,140		1,906		6,046
Noninterest expense		17,554		2,778		20,332
Income before income taxes		6,604		940		7,544
Income tax expense		1,689		242		1,931
Net income	$	4,915	$	698	$	5,613
Total assets, March 31, 2022	$	3,475,400	$	19,097	$	3,494,497