Segment Reporting

3 Months Ended

Mar. 31, 2023

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Segment Reporting

13.SEGMENT REPORTING

Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of Bancshares: the Bank and ALC. The reportable segments were determined using the internal management reporting system. These segments comprise Bancshares’ and the Bank’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2022, as amended in 2023 by the adoption of ASC 326 as discussed in Note 2, “Basis of Presentation,” in the Notes to the Interim Consolidated Financial Statements included in this Quarterly Report on Form 10-Q. The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below.

					All
	Bank		ALC		Other			Eliminations			Consolidated
	(Dollars in Thousands)
As of and for the three months ended March 31, 2023
Total interest income	$	11,506	$	659	$	1		$	(206	)	$	11,960
Total interest expense		2,412		205		115			(206	)		2,526
Net interest income		9,094		454		(114	)		—			9,434
Provision for credit losses		269		—		—			—			269
Net interest income after provision		8,825		454		(114	)		—			9,165
Total non-interest income		831		17		2,397			(2,416	)		829
Total non-interest expense		6,671		320		298			(19	)		7,270
Income before income taxes		2,985		151		1,985			(2,397	)		2,724
Provision for income taxes		701		38		(87	)		—			652
Net income	$	2,284	$	113	$	2,072		$	(2,397	)	$	2,072
Other significant items:
Total assets	$	1,025,683	$	16,128	$	95,018		$	(110,171	)	$	1,026,658
Total investment securities		128,689		—		—			—			128,689
Total loans, net		764,347		14,882		—			(14,939	)		764,290
Goodwill and core deposit intangible, net		7,746		—		—			—			7,746
Investment in subsidiaries		—		—		92,210			(92,210	)		—
Fixed asset additions		139		—		—			—			139
Depreciation and amortization expense		405		7		—			—			412
Total interest income from external customers		11,301		659		—			—			11,960
Total interest income from affiliates		205		—		1			(206	)		—

							All
	Bank			ALC			Other			Eliminations			Consolidated
	(Dollars in Thousands)
As of and for the three months ended March 31, 2022
Total interest income	$	8,125		$	1,589		$	1		$	(334	)	$	9,381
Total interest expense		559			333			114			(334	)		672
Net interest income		7,566			1,256			(113	)		—			8,709
Provision for loan and lease losses		(135	)		856			—			—			721
Net interest income after provision		7,701			400			(113	)		—			7,988
Total non-interest income		855			70			1,648			(1,744	)		829
Total non-interest expense		6,285			544			296			(69	)		7,056
Income (loss) before income taxes		2,271			(74	)		1,239			(1,675	)		1,761
Provision for income taxes		502			(19	)		(83	)		—			400
Net income (loss)	$	1,769		$	(55	)	$	1,322		$	(1,675	)	$	1,361
Other significant items:
Total assets	$	972,318		$	33,518		$	104,414		$	(141,604	)	$	968,646
Total investment securities		137,655			—			81			—			137,736
Total loans, net		669,569			32,237			—			(31,960	)		669,846
Goodwill and core deposit intangible, net		7,996			—			—			—			7,996
Investment in subsidiaries		—			—			93,963			(93,963	)		—
Fixed asset additions		118			0			—			—			118
Depreciation and amortization expense		377			10			—			—			387
Total interest income from external customers		7,792			1,589			—			—			9,381
Total interest income from affiliates		333			—			1			(334	)		—