Segment Information

9 Months Ended

Sep. 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 September 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 September 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$35,021	$4,395	$39,416
Interest expense	9,120	1,454	10,574
Net interest income	25,901	2,941	28,842
(Benefit) provision for credit losses	1,492	571	2,063
Other operating income	4,540	7,047	11,587
Salaries and other personnel expense	11,691	5,858	17,549
Other operating expense	7,394	1,785	9,179
Total other operating expense	19,085	7,643	26,728
Income before provision for income taxes	9,864	1,774	11,638
Provision for income taxes	2,316	497	2,813
Net income	$7,548	$1,277	$8,825

	Three Months Ended September 30, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$31,341	$3,067	$34,408
Interest expense	7,291	767	8,058
Net interest income	24,050	2,300	26,350
Provision for credit losses	1,190	—	1,190
Other operating income	3,597	4,405	8,002
Salaries and other personnel expense	11,164	4,493	15,657
Other operating expense	5,781	1,458	7,239
Total other operating expense	16,945	5,951	22,896
Income before provision for income taxes	9,512	754	10,266
Provision for income taxes	1,710	182	1,892
Net income	$7,802	$572	$8,374

	Nine Months Ended September 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$100,436	$11,697	$112,133
Interest expense	26,042	3,749	29,791
Net interest income	74,394	7,948	82,342
Provision for credit losses	1,505	587	2,092
Other operating income	12,046	16,962	29,008
Salaries and other personnel expense	34,092	15,501	49,593
Other operating expense	21,042	4,925	25,967
Total other operating expense	55,134	20,426	75,560
Income before provision for income taxes	29,801	3,897	33,698
Provision for income taxes	6,562	1,092	7,654
Net income	$23,239	$2,805	$26,044

	Nine Months Ended September 30, 2023
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Interest income	$89,509	$6,514	$96,023
Interest expense	18,007	1,492	19,499
Net interest income	71,502	5,022	76,524
Provision for credit losses	2,957	—	2,957
Other operating income	9,564	10,326	19,890
Salaries and other personnel expense	32,557	13,767	46,324
Other operating expense	19,611	4,253	23,864
Total other operating expense	52,168	18,020	70,188
Income before provision for income taxes	25,941	(2,672)	23,269
Provision for income taxes	5,216	(728)	4,488
Net income	$20,725	($1,944)	$18,781

September 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Consolidated
Total assets	$2,588,267	$375,125	$2,963,392
Loans held for sale	$—	$97,937	$97,937

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