Segment Reporting

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Reporting

Note 16 – 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 and six months ended June 30, 2022.

	Community				Consolidated
(Dollars in thousands)	Banking		Mortgage Banking		Total
For the Three Months Ended June 30, 2022
Interest Income	$	26,478	$	192	$	26,670
Interest Expense		2,043		9		2,052
Net interest income		24,435		183		24,618
Provision for credit losses		200		—		200
Net interest income after provision for credit losses		24,235		183		24,418
Noninterest income		4,737		1,096		5,833
Noninterest expense		19,006		1,088		20,094
Income (loss) before income taxes		9,966		191		10,157
Income tax expense (benefit)		2,608		50		2,658
Net income (loss)	$	7,358	$	141	$	7,499
Total assets, June 30, 2022	$	3,429,420	$	13,130	$	3,442,550

	Community				Consolidated
(Dollars in thousands)	Banking		Mortgage Banking		Total
For the Six Months Ended June 30, 2022
Interest Income	$	50,650	$	344	$	50,994
Interest Expense		3,927		19		3,946
Net interest income		46,723		325		47,048
Provision for credit losses		800		—		800
Net interest income after provision for credit losses		45,923		325		46,248
Noninterest income		8,916		2,963		11,879
Noninterest expense		37,352		3,074		40,426
Income before income taxes		17,487		214		17,701
Income tax expense		4,536		53		4,589
Net income	$	12,951	$	161	$	13,112
Total assets, June 30, 2022	$	3,429,420	$	13,130	$	3,442,550