Segment Information

3 Months Ended

Mar. 31, 2024

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 assessed based on income before income taxes, and indirect expenses (including 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 months ended March 31, 2024 and 2023:

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Three Months Ended March 31, 2024
Net Interest Income	$	17,552	$	40	$	1,062	$	18,654
Provision for Credit Losses	455		—		545		1,000
Noninterest Income	5,680		1,165		2,642		9,487
Noninterest Expenses	17,129		1,218		2,050		20,397
Income Taxes	1,166		1		244		1,411
Segment Profit	$	4,482	$	(14)	$	865	$	5,333
Segments Assets at March 31, 2024	$	2,910,102	$	8,011	$	97,396	$	3,015,509
Full time employees at March 31, 2024	377		43		31		451

(dollars in thousands)	Bank		Mortgage Banking		Small Business Specialty Lending Division		Totals
Three Months Ended March 31, 2023
Net Interest Income	$	20,138	$	3	$	427	$	20,568
Provision for Credit Losses	900		—		—		900
Noninterest Income	4,918		1,277		1,464		7,659
Noninterest Expenses	17,812		1,712		1,641		21,165
Income Taxes	1,155		(86)		50		1,119
Segment Profit	$	5,189	$	(346)	$	200	$	5,043
Segments Assets at December 31, 2023	$	2,956,121	$	7,890	$	89,411	$	3,053,422
Full time employees at March 31, 2023	407		59		30		496

Three Months Ended March 31, 2024

Three Months Ended March 31, 2023