Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

    The Company's operations are managed along two operating segments: Community Banking and Home Mortgage Lending. The Community Banking segment's principal business focus is the offering of loan and deposit products to business and consumer customers in its primary market areas. As of September 30, 2022, the Community Banking segment operated 17 branches throughout Alaska. The Home Mortgage Lending segment's principal business focus is the origination and sale of mortgage loans for 1-4 family residential properties.

    Summarized financial information for the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:

	Three Months Ended September 30, 2022
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$26,900	$659	$27,559
Interest expense	1,232	16	1,248
Net interest income	25,668	643	26,311
Benefit for credit losses	(353)	—	(353)
Other operating income	2,938	5,734	8,672
Other operating expense	15,977	6,309	22,286
Income before provision for income taxes	12,982	68	13,050
Provision for income taxes	2,911	14	2,925
Net income	$10,071	$54	$10,125

	Three Months Ended September 30, 2021
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$20,541	$741	$21,282
Interest expense	813	37	850
Net interest income	19,728	704	20,432
Benefit for credit losses	(1,106)	—	(1,106)
Other operating income	2,765	9,893	12,658
Other operating expense	14,849	7,685	22,534
Income before provision for income taxes	8,750	2,912	11,662
Provision for income taxes	1,955	830	2,785
Net income	$6,795	$2,082	$8,877

	Nine Months Ended September 30, 2022
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$68,919	$1,690	$70,609
Interest expense	2,739	43	2,782
Net interest income	66,180	1,647	67,827
Benefit for credit losses	(40)	—	(40)
Other operating income	8,686	18,616	27,302
Other operating expense	47,223	19,402	66,625
Income before provision for income taxes	27,683	861	28,544
Provision for income taxes	6,157	241	6,398
Net income	$21,526	$620	$22,146

	Nine Months Ended September 30, 2021
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$59,816	$2,315	$62,131
Interest expense	2,886	128	3,014
Net interest income	56,930	2,187	59,117
Benefit for credit losses	(3,021)	—	(3,021)
Other operating income	7,811	34,875	42,686
Other operating expense	43,064	23,133	66,197
Income before provision for income taxes	24,698	13,929	38,627
Provision for income taxes	5,257	3,967	9,224
Net income	$19,441	$9,962	$29,403

September 30, 2022
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,631,930	$85,584	$2,717,514
Loans held for sale	$—	$49,356	$49,356

December 31, 2021
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,615,433	$109,286	$2,724,719
Loans held for sale	$—	$73,650	$73,650