Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company’s operating segments include banking, mortgage banking and small business specialty lending division. The reportable segments are determined by the products and services offered, and internal reporting. The Bank segment derives its revenues from the delivery of full-service financial services, including retail and commercial banking services and deposit accounts. The Mortgage Banking segment derives its revenues from the origination and sales of residential mortgage loans held for sale. The Small Business Specialty Lending Division segment derives its revenue from the origination, sales and servicing of Small Business Administration loans and other government guaranteed loans. Segment performance is evaluated using net interest income and noninterest income. Income taxes are allocated based on income before income taxes, and indirect expenses (includes management fees) are allocated based on various internal factors for each segment. Transactions among segments are made at fair value. Information reported internally for performance assessment follows. The following tables present information reported internally for performance assessment for the three and nine months ended September 30, 2021 and 2020:

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Three months ended September 30, 2021
Net Interest Income	$	17,181	$	138	$	549	$	17,868
Provision for Loan Losses	150		—		—		150
Noninterest Income	4,340		3,104		1,994		9,438
Noninterest Expenses	16,941		2,765		1,505		21,211
Income Taxes	434		(290)		218		362
Segment Profit	$	3,996	$	767	$	820	$	5,583
Segments Assets at September 30, 2021	$	2,468,106	$	21,184	$	23,291	$	2,512,581
Full time employees at September 30, 2021	417		53		24		494

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Three months ended September 30, 2020
Net Interest Income	$	13,631	$	188	$	29	$	13,848
Provision for Loan Losses	1,106		—		—		1,106
Noninterest Income	4,139		2,612		803		7,554
Noninterest Expenses	12,415		2,410		1,488		16,313
Income Taxes	940		82		(138)		884
Segment Profit (Loss)	$	3,309	$	308	$	(1,350)	$	3,099
Segments Assets at December 31, 2020	$	1,709,696	$	50,266	$	4,012	$	1,763,974
Full time employees at September 30, 2020	312		41		15		368

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Nine months ended September 30, 2021
Net Interest Income	$	45,977	$	429	$	761	$	47,167
Provision for Loan Losses	650		—		—		650
Noninterest Income	10,409		10,087		4,979		25,475
Noninterest Expenses	41,922		8,445		3,746		54,113
Income Taxes	2,836		124		419		3,379
Segment Profit	$	10,978	$	1,947	$	1,575	$	14,500

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Nine months ended September 30, 2020
Net Interest Income	$	39,727	$	305	$	62	$	40,094
Provision for Loan Losses	5,262		—		—		5,262
Noninterest Income	9,960		5,686		1,183		16,829
Noninterest Expenses	34,112		5,302		3,524		42,938
Income Taxes	2,149		137		(479)		1,807
Segment Profit (Loss)	$	8,164	$	552	$	(1,800)	$	6,916