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.
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2023 (Dollars in thousands) |
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Bank |
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VNB Trust & Estate Services |
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Masonry Capital |
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Consolidated |
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Net interest income |
|
$ |
48,969 |
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|
$ |
- |
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|
$ |
- |
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|
$ |
48,969 |
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|
|
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Provision for credit losses |
|
|
734 |
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|
|
- |
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|
- |
|
|
|
734 |
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|
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Noninterest income |
|
|
7,064 |
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|
|
1,030 |
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|
|
1,007 |
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|
|
9,101 |
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|
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Noninterest expense |
|
|
31,822 |
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|
|
1,418 |
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|
|
823 |
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|
34,063 |
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Income before income taxes |
|
|
23,477 |
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|
(388 |
) |
|
|
184 |
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|
23,273 |
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Provision for income taxes |
|
|
4,052 |
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(81 |
) |
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|
39 |
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|
|
4,010 |
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Net income (loss) |
|
$ |
19,425 |
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|
$ |
(307 |
) |
|
$ |
145 |
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$ |
19,263 |
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2022 (Dollars in thousands) |
|
Bank |
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|
Sturman Wealth Advisors |
|
|
VNB Trust & Estate Services |
|
|
Masonry Capital |
|
|
Consolidated |
|
Net interest income |
|
$ |
53,547 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
53,547 |
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Provision for loan losses |
|
|
106 |
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|
|
- |
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|
|
- |
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|
|
- |
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|
|
106 |
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Noninterest income |
|
|
7,936 |
|
|
|
770 |
|
|
|
3,937 |
|
|
|
1,018 |
|
|
|
13,661 |
|
Noninterest expense |
|
|
35,097 |
|
|
|
615 |
|
|
|
1,957 |
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|
|
887 |
|
|
|
38,556 |
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Income before income taxes |
|
|
26,280 |
|
|
|
155 |
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|
|
1,980 |
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|
|
131 |
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|
|
28,546 |
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Provision for income taxes |
|
|
4,631 |
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|
33 |
|
|
|
416 |
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|
28 |
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|
|
5,108 |
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Net income |
|
$ |
21,649 |
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|
$ |
122 |
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|
$ |
1,564 |
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|
$ |
103 |
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|
$ |
23,438 |
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