Segment Information

6 Months Ended

Jun. 30, 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 June 30, 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 June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$32,892	$4,017	$36,909
Interest expense	8,614	1,242	9,856
Net interest income	24,278	2,775	27,053
(Benefit) provision for credit losses	(184)	64	(120)
Other operating income	3,693	5,884	9,577
Salaries and other personnel expense	11,523	5,104	16,627
Other operating expense	6,974	1,593	8,567
Total other operating expense	18,497	6,697	25,194
Income before provision for income taxes	9,658	1,898	11,556
Provision for income taxes	2,004	532	2,536
Net income	$7,654	$1,366	$9,020

	Three Months Ended June 30, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$28,675	$3,145	$31,820
Interest expense	5,975	703	6,678
Net interest income	22,700	2,442	25,142
Provision for credit losses	1,407	—	1,407
Other operating income	3,067	3,913	6,980
Salaries and other personnel expense	10,690	4,493	15,183
Other operating expense	7,115	1,484	8,599
Total other operating expense	17,805	5,977	23,782
Income before provision for income taxes	6,555	378	6,933
Provision for income taxes	1,192	164	1,356
Net income	$5,363	$214	$5,577

	Six Months Ended June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$65,415	$7,302	$72,717
Interest expense	16,922	2,295	19,217
Net interest income	48,493	5,007	53,500
Provision for credit losses	13	16	29
Other operating income	7,506	9,915	17,421
Salaries and other personnel expense	22,401	9,643	32,044
Other operating expense	13,648	3,140	16,788
Total other operating expense	36,049	12,783	48,832
Income before provision for income taxes	19,937	2,123	22,060
Provision for income taxes	4,246	595	4,841
Net income	$15,691	$1,528	$17,219

	Six Months Ended June 30, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$58,168	$3,447	$61,615
Interest expense	10,716	725	11,441
Net interest income	47,452	2,722	50,174
Provision for credit losses	1,767	—	1,767
Other operating income	5,967	5,921	11,888
Salaries and other personnel expense	21,394	9,273	30,667
Other operating expense	13,828	2,796	16,624
Total other operating expense	35,222	12,069	47,291
Income before provision for income taxes	16,430	(3,426)	13,004
Provision for income taxes	3,507	(910)	2,597
Net income	$12,923	($2,516)	$10,407

June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,485,353	$336,315	$2,821,668
Loans held for sale	$—	$85,926	$85,926

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