Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information

    The Company's operations are managed along two operating segments: Community Banking and Home Mortgage Lending. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. As of December 31, 2023, the Community Banking segment operated 19 branches throughout Alaska. The Home Mortgage Lending segment's principal business focus is the origination and sale of mortgage loans for 1-4 family residential properties.

    Summarized financial information for the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:

December 31, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$122,258	$9,693	$131,951
Interest expense	26,300	2,395	28,695
Net interest income	95,958	7,298	103,256
Provision for credit losses	3,842	—	3,842
Other operating income	13,612	12,763	26,375
Other operating expense	70,684	23,497	94,181
Income (loss) before provision for income taxes	35,044	(3,436)	31,608
Provision for income taxes	7,157	(943)	6,214
Net income (loss)	$27,887	($2,493)	$25,394
Total assets	$2,539,791	$267,706	$2,807,497
Loans held for sale	$—	$31,974	$31,974

December 31, 2022
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$98,078	$2,250	$100,328
Interest expense	5,156	57	5,213
Net interest income	92,922	2,193	95,115
Provision for credit losses	1,846	—	1,846
Other operating income	12,505	21,572	34,077
Other operating expense	63,902	24,950	88,852
Income (loss) before provision for income taxes	39,679	(1,185)	38,494
Provision for income taxes	8,041	(288)	7,753
Net income (loss)	$31,638	($897)	$30,741
Total assets	$2,543,086	$131,232	$2,674,318
Loans held for sale	$—	$27,538	$27,538

December 31, 2021
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$81,703	$2,903	$84,606
Interest expense	3,623	156	3,779
Net interest income	78,080	2,747	80,827
Benefit for credit losses	(4,099)	—	(4,099)
Other operating income	10,119	42,144	52,263
Other operating expense	58,647	30,549	89,196
Income before provision for income taxes	33,651	14,342	47,993
Provision for income taxes	6,468	4,008	10,476
Net income	$27,183	$10,334	$37,517
Total assets	$2,596,190	$128,529	$2,724,719
Loans held for sale	$—	$73,650	$73,650