Reportable Segments

6 Months Ended

Jun. 30, 2025

Reportable Segments

Reportable Segments

(9) Reportable Segments

The Company has two reportable segments as described below:

Banking Operations – This segment reflects the consolidated Bank, excluding CBRES. The primary source of revenue for this segment is net interest income.

CBRES – A Bank subsidiary that provides appraisal management services to community banks. The primary source of revenue for this segment is appraisal management fee income.

The Bank’s executive management team, which is comprised of the Bank’s Chief Executive Officer, Chief Financial Officer and executive vice presidents, is the chief operating decision maker for the Company. The Bank’s executive management team reviews actual net income versus budgeted net income on a quarterly basis to assess segment performance.

The following table presents financial information for the reportable segments. Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below. Certain prior period amounts have been reclassified to conform to the current presentation. The information provided under the caption “Other” represents the parent company, which is not considered to be a reportable segment, is included to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP.

(Dollars in thousands)
	Banking
	Operations			CBRES		Other			Consolidated
As of and for the three months ended June 30, 2025
Interest income	$	20,712			-		8			20,720
Interest expense		5,881			-		242			6,123
Net interest income		14,831			-		(234	)		14,597
Provision for (recovery of) credit losses		(213	)		-		-			(213	)
Noninterest income		3,720			-		-			3,720
Appraisal management fee income		-			3,973		-			3,973
Salaries and employee benefits		6,895			180		93			7,168
Occupancy		2,057			1		-			2,058
Appraisal management fee expense		-			3,156		-			3,156
Noninterest expense		3,138			227		93			3,458
Income tax expense (benefit)		1,497			94		(88	)		1,503
Net income (loss)	$	5,177			315		(332	)		5,160
Total assets	$	1,688,255			4,888		702			1,693,845
As of and for the three months ended June 30, 2024
Interest income	$	20,062			-		8			20,070
Interest expense		6,371			-		283			6,654
Net interest income		13,691			-		(275	)		13,416
Provision for (recovery of) credit losses		(468	)		-		-			(468	)
Noninterest income		4,340			-		-			4,340
Appraisal management fee income		-			3,181		-			3,181
Salaries and employee benefits		6,548			178		101			6,827
Occupancy		2,098			7		-			2,105
Appraisal management fee expense		-			2,523		-			2,523
Noninterest expense		3,374			214		88			3,676
Income tax expense (benefit)		1,423			60		(97	)		1,386
Net income (loss)	$	5,056			199		(367	)		4,888
Total assets	$	1,650,872			4,035		491			1,655,398
As of and for the six months ended June, 2025
Interest income	$	40,675			-		15			40,690
Interest expense		11,666			-		483			12,149
Net interest income		29,009			-		(468	)		28,541
Provision for credit losses		55			-		-			55
Noninterest income		7,207			-		-			7,207
Appraisal management fee income		-			7,015		-			7,015
Salaries and employee benefits		13,361			400		195			13,956
Occupancy		4,075			11		-			4,086
Appraisal management fee expense		-			5,575		-			5,575
Noninterest expense		6,221			415		160			6,796
Income tax expense (benefit)		2,822			141		(173	)		2,790
Net income (loss)	$	9,682			473		(650	)		9,505
Total assets	$	1,688,255			4,888		702			1,693,845
As of and for the six months ended June, 2024
Interest income	$	39,863			-		17			39,880
Interest expense		12,593			-		567			13,160
Net interest income		27,270			-		(550	)		26,720
Provision for (recovery of) credit losses		(377	)		-		-			(377	)
Noninterest income		7,964			-		-			7,964
Appraisal management fee income		-			5,595		-			5,595
Salaries and employee benefits		13,231			374		202			13,807
Occupancy		4,208			8		-			4,216
Appraisal management fee expense		-			4,427		-			4,427
Noninterest expense		6,687			361		149			7,197
Income tax expense (benefit)		2,264			98		(189	)		2,173
Net income (loss)	$	9,221			327		(712	)		8,836
Total assets	$	1,650,872			4,035		491			1,655,398