Reportable Segments

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Reportable Segments

NOTE 24 – Reportable Segments

The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning purposes by management. The three segments include Commercial and Retail Banking, Mortgage Banking, and Corporate Operations. The following schedule presents financial information for each reportable segment.

107

	Year ended December 31, 2020
(dollars in thousands)	Commercial and Retail Banking		Mortgage Banking		Corporate Operations			Eliminations			Consolidated
Interest income	$	93,640		1,178		17			(17	)		94,818
Interest expense		13,317		-		1,708			(17	)		15,008
Net interest income (loss)		80,323		1,178		(1,691	)		-			79,810
Provision for loan losses		29,600		-		-			-			29,600
Noninterest income		7,568		19,785		-			-			27,353
Noninterest expense		43,563		9,898		283			-			53,744
Net income (loss) before taxes		14,728		11,065		(1,974	)		-			23,819
Income tax provision (benefit)		3,582		2,324		(415	)		-			5,491
Net income (loss)	$	11,146		8,741		(1,559	)		-			18,328
Total assets	$	2,419,245		62,910		264,566			(264,134	)		2,482,587

	Year ended December 31, 2019
	Commercial and Retail Banking		Mortgage Banking		Corporate Operations			Eliminations			Consolidated
Interest income	$	91,923		729		13			(13	)		92,652
Interest expense		24,467		-		929			(13	)		25,383
Net interest income (loss)		67,456		729		(916	)		-			67,269
Provision for loan losses		2,300		-		-			-			2,300
Noninterest income		5,060		9,923		-			-			14,983
Noninterest expense		37,797		6,436		240			-			44,473
Net income (loss) before taxes		32,419		4,216		(1,156	)		-			35,479
Income tax expense (benefit)		6,979		885		(243	)		-			7,621
Net income (loss)	$	25,440		3,331		(913	)		-			27,858
Total assets	$	2,239,430		27,356		242,069			(241,660	)		2,267,195

Commercial and retail banking. The Company’s primary business is to provide traditional deposit and lending products and services to its commercial and retail banking clients.

Mortgage banking. The mortgage banking segment provides mortgage loan origination services for loans that will be sold in the secondary market to investors.

Corporate operations. Corporate operations is comprised primarily of compensation and benefits for certain members of management and interest on parent company debt.