Segment Information

3 Months Ended

Mar. 31, 2024

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 March 31, 2024, the Community Banking segment operated 20 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 March 31, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$32,523	$3,285	$35,808
Interest expense	8,308	1,053	9,361
Net interest income	24,215	2,232	26,447
Provision for credit losses	197	(48)	149
Other operating income	3,813	4,031	7,844
Salaries and other personnel expense	10,878	4,539	15,417
Other operating expense	6,674	1,547	8,221
Total other operating expense	17,552	6,086	23,638
Income before provision for income taxes	10,279	225	10,504
Provision for income taxes	2,242	63	2,305
Net income	$8,037	$162	$8,199

	Three Months Ended March 31, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$29,493	$302	$29,795
Interest expense	4,741	22	4,763
Net interest income	24,752	280	25,032
Benefit for credit losses	360	—	360
Other operating income	2,900	2,008	4,908
Salaries and other personnel expense	10,704	4,780	15,484
Other operating expense	6,713	1,312	8,025
Total other operating expense	17,417	6,092	23,509
Income before provision for income taxes	9,875	(3,804)	6,071
Provision for income taxes	2,315	(1,074)	1,241
Net income	$7,560	($2,730)	$4,830

March 31, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,466,448	$293,112	$2,759,560
Loans held for sale	$—	$43,818	$43,818

December 31, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,539,791	$267,706	$2,807,497
Loans held for sale	$—	$31,974	$31,974