Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

As defined in ASC 280, Segment Reporting, an operating segment is a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the enterprise’s chief operating decision makers to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. We evaluate performance based on an internal performance measurement accounting system, which provides line of business results. This system uses various techniques to assign balance sheet and income statement amounts to the business segments, including allocations of income and expense. A primary objective of this measurement system and related internal financial reporting practices are to produce consistent results that reflect the underlying financial impact of the segments on the Company and to provide a basis of support for strategic decision making. The accounting policies applicable to our segments are those that apply to our preparation of the accompanying Consolidated Financial Statements. Based on these criteria, we have identified three segments: The community bank, CCBX and treasury & administration.

Financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables for the periods indicated. The segment structure changed after 2021, therefore some items are reported as “N/A” for the year ended December 31, 2021.

	December 31, 2023								December 31, 2022
	Community Bank		CCBX		Treasury & Administration		Consolidated		Community Bank		CCBX		Treasury & Administration		Consolidated
Assets	(dollars in thousands)
Cash and Due from Banks	$	4,702	$	9,601	$	468,825	$	483,128	$	4,603	$	12,899	$	324,637	$	342,139
Intrabank assets	—		653,178		(653,178)		—		—		254,096		(254,096)		—
Securities	—		—		150,364		150,364		—		—		98,353		98,353
Total loans receivable	1,830,154		1,195,938		—		3,026,092		1,614,752		1,012,504		—		2,627,256
Allowance for credit losses	(21,595)		(95,363)		—		(116,958)		(20,636)		(53,393)		—		(74,029)
All other assets	30,169		136,931		43,640		210,740		25,508		76,111		49,129		150,748
Total assets	$	1,843,430	$	1,900,285	$	9,651	$	3,753,366	$	1,624,227	$	1,302,217	$	218,023	$	3,144,467
Liabilities
Total deposits	$	1,497,601	$	1,862,762	$	—	$	3,360,363	1,538,218		1,279,303		—		2,817,521
Total borrowings	—		—		47,734		47,734		—		—		47,587		47,587
Intrabank liabilities	338,614		—		(338,614)		—		80,392		—		(80,392)		—
All other liabilities	7,215		37,523		5,553		50,291		5,617		22,914		7,334		35,865
Total liabilities	$	1,843,430	$	1,900,285	$	(285,327)	$	3,458,388	$	1,624,227	$	1,302,217	$	(25,471)	$	2,900,973

	Year Ended December 31, 2023								Year Ended December 31, 2022
	Community Bank		CCBX		Treasury & Administration		Consolidated		Community Bank		CCBX		Treasury & Administration		Consolidated
	(dollars in thousands)
INTEREST INCOME AND EXPENSE
Interest income	$	106,983	$	204,458	$	18,930	$	330,371	$	80,544	$	102,808	$	8,818	$	192,170
Interest income (expense)    intrabank transfer	(10,404)		19,071		(8,667)		—		796		4,106		(4,902)		—
Interest expense	17,354		71,646		2,644		91,644		2,896		16,108		1,391		20,395
Net interest income	79,225		151,883		7,619		238,727		78,444		90,806		2,525		171,775
Provision for credit    losses - loans	1,322		182,721		—		184,043		719		78,345		—		79,064
(Recapture)/Provision for    unfunded commitments	(211)		160		—		(51)		—		—		—		—
Net interest income after    provision for credit    losses - loans and    unfunded commitments	78,114		(30,998)		7,619		54,735		77,725		12,461		2,525		92,711
NONINTEREST INCOME
Deposit service charges and fees	3,810		44		—		3,854		3,757		47		—		3,804
Other income	1,165		433		501		2,099		1,411		356		234		2,001
BaaS program income	—		16,293		—		16,293		—		12,934		—		12,934
BaaS indemnification income	—		184,929		—		184,929		—		105,945		—		105,945
Noninterest income (1)	4,975		201,699		501		207,175		5,168		119,282		234		124,684
NONINTEREST EXPENSE
Salaries and employee benefits	24,104		25,159		17,198		66,461		20,476		18,007		13,745		52,228
Occupancy	3,815		339		772		4,926		3,956		317		275		4,548
Data processing and software licenses	4,521		2,303		1,771		8,595		3,172		1,746		1,569		6,487
Legal and professional expenses	1,580		9,645		3,578		14,803		213		3,163		3,384		6,760
Other expense	3,954		6,812		5,161		15,927		5,202		3,026		5,658		13,886
BaaS loan expense	—		86,900		—		86,900		—		53,294		—		53,294
BaaS fraud expense	—		7,165		—		7,165		—		29,571		—		29,571
Total noninterest expense	37,974		138,323		28,480		204,777		33,019		109,124		24,631		166,774
Net income before income taxes	45,115		32,378		(20,360)		57,133		49,874		22,619		(21,872)		50,621
Income taxes	9,913		7,116		(4,475)		12,554		10,068		4,248		(4,320)		9,996
Net Income	$	35,202	$	25,262	$	(15,885)	$	44,579	39,806		18,371		(17,552)		40,625

	Year Ended December 31, 2021
	Community Bank		CCBX		Treasury & Administration	Consolidated
	(dollars in thousands)
INTEREST INCOME AND EXPENSE
Interest income	$	76,551	$	6,532	N/A	$	83,083
Interest income (expense)    intrabank transfer	N/A		N/A		N/A	—
Interest expense	3,547		99		N/A	3,646
Net interest income	73,004		6,433		N/A	79,437
Provision for credit    losses - loans	1,275		8,640		N/A	9,915
(Recapture)/Provision for    unfunded commitments	—		—		N/A	—
Net interest income after    provision for credit    losses - loans and    unfunded commitments	71,729		(2,207)		N/A	69,522
NONINTEREST INCOME
Deposit service charges and fees	3,698		—		N/A	3,698
Other income	7,015		98		N/A	7,113
BaaS program income	—		6,716		N/A	6,716
BaaS indemnification income	—		10,591		N/A	10,591
Noninterest income (1)	10,713		17,405		N/A	28,118
NONINTEREST EXPENSE
Salaries and employee benefits	32,562		4,539		N/A	37,101
Occupancy	4,039		89		N/A	4,128
Data processing and software licenses	4,509		442		N/A	4,951
Legal and professional expenses	2,654		479		N/A	3,133
Other expense	7,783		1,686		N/A	9,469
BaaS loan expense	—		2,976		N/A	2,976
BaaS fraud expense	—		1,505		N/A	1,505
Total noninterest expense	51,547		11,716		N/A	63,263
Net income before income taxes	30,895		3,482		N/A	34,377
Income taxes	6,638		734		N/A	7,372
Net Income	24,257		2,748		N/A	27,005