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Segment Reporting (Tables)
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of segment reporting information

Segment information for the years ended December 31, 2023 and 2022 is shown in the following tables. Note that asset information is not reported below, as the assets of Sturman Wealth Advisors and VNB Trust & Estate Services are reported at the Bank level; also, assets specifically allocated to the lines of business other than the Bank are insignificant and are no longer provided to the chief operating decision maker. Note also that the Bank sold the Sturman Wealth Advisors business line effective December 19, 2022.

 

2023
(Dollars in thousands)

 

Bank

 

 

VNB Trust &
Estate
Services

 

 

Masonry
Capital

 

 

Consolidated

 

 

 

 

Net interest income

 

$

48,969

 

 

$

-

 

 

$

-

 

 

$

48,969

 

 

 

 

Provision for credit losses

 

 

734

 

 

 

-

 

 

 

-

 

 

 

734

 

 

 

 

Noninterest income

 

 

7,064

 

 

 

1,030

 

 

 

1,007

 

 

 

9,101

 

 

 

 

Noninterest expense

 

 

31,822

 

 

 

1,418

 

 

 

823

 

 

 

34,063

 

 

 

 

Income before income taxes

 

 

23,477

 

 

 

(388

)

 

 

184

 

 

 

23,273

 

 

 

 

Provision for income taxes

 

 

4,052

 

 

 

(81

)

 

 

39

 

 

 

4,010

 

 

 

 

Net income (loss)

 

$

19,425

 

 

$

(307

)

 

$

145

 

 

$

19,263

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2022
(Dollars in thousands)

 

Bank

 

 

Sturman
Wealth
Advisors

 

 

VNB Trust &
Estate
Services

 

 

Masonry
Capital

 

 

Consolidated

 

Net interest income

 

$

53,547

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

53,547

 

Provision for loan losses

 

 

106

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

106

 

Noninterest income

 

 

7,936

 

 

 

770

 

 

 

3,937

 

 

 

1,018

 

 

 

13,661

 

Noninterest expense

 

 

35,097

 

 

 

615

 

 

 

1,957

 

 

 

887

 

 

 

38,556

 

Income before income taxes

 

 

26,280

 

 

 

155

 

 

 

1,980

 

 

 

131

 

 

 

28,546

 

Provision for income taxes

 

 

4,631

 

 

 

33

 

 

 

416

 

 

 

28

 

 

 

5,108

 

Net income

 

$

21,649

 

 

$

122

 

 

$

1,564

 

 

$

103

 

 

$

23,438