Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 24. SEGMENT REPORTING

We are in the business of providing financial services and we operate in two business segments – commercial and consumer banking, termed “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 Bank’s secondary marketing department and involves originating first and second-lien residential mortgages for sale in the secondary market. Results of the mortgage banking segment for the year ended December 31, 2022, reflect a full year of operating results, while results for the year ended December 31, 2021, reflect results for the mortgage banking segment from the Acquisition Date of Severn through the end of the year. Prior to the acquisition of Severn, the Company did not engage in the business of originating first and second lien residential mortgages for sale in the secondary market.

The following tables present certain information regarding our business segments as of and for the years ended December 31.

	Community				Consolidated
(Dollars in thousands)	Banking		Mortgage Banking		Total
For the Year Ended December 31, 2022
Interest Income	$	113,253	$	592	$	113,845
Interest Expense		12,501		42		12,543
Net interest income		100,752		550		101,302
Provision for credit losses		1,925		—		1,925
Net interest income after provision for credit losses		98,827		550		99,377
Noninterest income		17,876		5,210		23,086
Noninterest expense		75,267		5,055		80,322
Income before income taxes		41,436		705		42,141
Income tax expense		10,782		182		10,964
Net income	$	30,654	$	523	$	31,177
Total assets, December 31, 2022	$	3,467,548	$	9,728	$	3,477,276

	Community				Consolidated
(Dollars in thousands)	Banking		Mortgage Banking		Total
For the Year Ended December 31, 2021
Interest Income	$	70,037	$	132	$	70,169
Interest Expense		6,031		8		6,039
Net interest income		64,006		124		64,130
Provision for credit losses		(358)		—		(358)
Net interest income after provision for credit losses		64,364		124		64,488
Noninterest income		12,550		948		13,498
Noninterest expense		55,628		1,178		56,806
Income (loss) before income taxes		21,286		(106)		21,180
Income tax expense (benefit)		5,841		(29)		5,812
Net income (loss)	$	15,445	$	(77)	$	15,368
Total assets, December 31, 2021	$	3,416,519	$	43,617	$	3,460,136