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DISCONTINUED OPERATIONS (Tables)
9 Months Ended
Sep. 30, 2021
DISCONTINUED OPERATIONS  
Summary income statement of discontinued operations

Three Months Ended

    

Nine Months Ended

 

September 30, 

September 30, 

(in thousands)

2021

2020

2021

2020

INTEREST INCOME:

Loans, including fees

$

76

$

135

$

14,815

$

20,978

Funds transfer credit

 

51

 

70

 

313

 

1,543

Total interest income

 

127

 

205

 

15,128

 

22,521

INTEREST EXPENSE:

Deposits

 

 

 

 

527

Funds transfer cost

 

4

 

2

 

200

 

1,132

Total interest expense

 

4

 

2

 

200

 

1,659

NET INTEREST INCOME

 

123

 

203

 

14,928

 

20,862

Provision for expected credit loss expense

 

(2,261)

 

(4,342)

 

7,850

 

15,239

NET INTEREST INCOME AFTER PROVISION

 

2,384

 

4,545

 

7,078

 

5,623

NONINTEREST INCOME:

Net refund transfer fees

 

1,280

 

1,152

 

19,922

 

19,888

Interchange fee income

 

63

 

37

 

232

 

178

Other

 

1

 

8

 

78

 

90

Total noninterest income

 

1,344

 

1,197

 

20,232

 

20,156

NONINTEREST EXPENSE:

Salaries and employee benefits

 

1,043

 

1,460

 

4,268

 

4,208

Technology, equipment, and communication

 

86

 

131

 

260

 

461

Occupancy

 

 

 

1

 

7

Marketing and development

 

45

 

55

 

160

 

196

FDIC insurance expense

 

 

 

150

 

Bank franchise tax expense

 

9

 

2

 

14

 

1,729

Legal and professional fees

303

8

1,382

173

Other

 

172

 

89

 

1,491

 

1,455

Total noninterest expense

 

1,658

 

1,745

 

7,726

 

8,229

INCOME FROM DISCONTINUED OPERATIONS BEFORE INCOME TAX EXPENSE

 

2,070

 

3,997

 

19,584

 

17,550

INCOME TAX EXPENSE

 

473

 

883

 

4,840

 

4,004

INCOME FROM DISCONTINUED OPERATIONS

$

1,597

$

3,114

$

14,744

$

13,546