Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Information About the Reportable Segments and Reconciliation to the Consolidated Financial Statements

The following tables present information about the reportable segments and reconciliation to the consolidated financial statements for the periods indicated:

Three Months Ended September 30, 2021	CoRe Banking		Mortgage Banking		Financial Holding Company		Intercompany Eliminations		Consolidated
(Dollars in thousands)
Interest income	$	20,383	$	105	$	1	$	(5)	$	20,484
Interest expense	912		—		481		(5)		1,388
Net interest income	19,471		105		(480)		—		19,096
Provision for loan losses	379		1		—		—		380
Net interest income (loss) after provision for loan losses	19,092		104		(480)		—		18,716
Total noninterest income	20,211		3,546		2,002		(3,808)		21,951
Noninterest Expenses:
Salaries and employee benefits	13,097		47		3,384		—		16,528
Other expense	11,654		(198)		1,653		(3,808)		9,301
Total noninterest expenses	24,751		(151)		5,037		(3,808)		25,829
Income (loss) before income taxes	14,552		3,801		(3,515)		—		14,838
Income tax expense (benefit)	2,973		922		(731)		—		3,164
Net income (loss) before noncontrolling interest	11,579		2,879		(2,784)		—		11,674
Net loss attributable to noncontrolling interest	154		—		—		—		154
Net income (loss) attributable to parent	$	11,733	$	2,879	$	(2,784)	$	—	$	11,828
Preferred stock dividends	—		—		—		—		—
Net income (loss) available to common shareholders	$	11,733	$	2,879	$	(2,784)	$	—	$	11,828
Capital expenditures for the three months ended September 30, 2021	$	1,975	$	—	$	—	$	—	$	1,975
Total assets as of September 30, 2021	2,827,019		53,261		342,677		(434,133)		2,788,824
Total assets as of December 31, 2020	2,343,556		58,140		284,943		(355,163)		2,331,476
Goodwill as of September 30, 2021	3,988		—		—		—		3,988
Goodwill as of December 31, 2020	2,350		—		—		—		2,350

Three Months Ended September 30, 2020	CoRe Banking		Mortgage Banking		Financial Holding Company		Intercompany Eliminations		Consolidated
(Dollars in thousands)
Interest income	$	18,737	$	78	$	—	$	(188)	$	18,627
Interest expense	2,553		232		20		(188)		2,617
Net interest income	16,184		(154)		(20)		—		16,010
Provision for loan losses	8,631		—		—		—		8,631
Net interest income (loss) after provision for loan losses	7,553		(154)		(20)		—		7,379
Total noninterest income	3,106		16,793		1,481		(1,982)		19,398
Noninterest Expense:
Salaries and employee benefits	7,526		82		2,911		—		10,519
Other expense	8,389		68		1,271		(1,982)		7,746
Total noninterest expenses	15,915		150		4,182		(1,982)		18,265
Income (loss) before income taxes	(5,256)		16,489		(2,721)		—		8,512
Income tax expense (benefit)	(1,556)		4,245		(668)		—		2,021
Net income (loss)	$	(3,700)	$	12,244	$	(2,053)	$	—	$	6,491
Preferred stock dividends	—		—		116		—		116
Net income (loss) available to common shareholders	$	(3,700)	$	12,244	$	(2,169)	$	—	$	6,375
Capital expenditures for the three months ended September 30, 2020	$	1,652	$	—	$	—	$	—	$	1,652

Nine Months Ended September 30, 2021	CoRe Banking		Mortgage Banking		Financial Holding Company		Intercompany Eliminations		Consolidated
(Dollars in thousands)
Interest income	$	60,078	$	307	$	2	$	(7)	$	60,380
Interest expense	3,294		—		1,437		(7)		4,724
Net interest income	56,784		307		(1,435)		—		55,656
Release of allowance for loan losses	(541)		(1)		—		—		(542)
Net interest income (loss) after release of allowance for loan losses	57,325		308		(1,435)		—		56,198
Total noninterest income	36,634		14,499		5,892		(8,972)		48,053
Noninterest Expenses:
Salaries and employee benefits	32,323		47		9,730		—		42,100
Other expense	31,261		(112)		4,073		(8,972)		26,250
Total noninterest expenses	63,584		(65)		13,803		(8,972)		68,350
Income (loss) before income taxes	30,375		14,872		(9,346)		—		35,901
Income tax expense (benefit)	5,290		3,606		(1,890)		—		7,006
Net income (loss) before noncontrolling interest	25,085		11,266		(7,456)		—		28,895
Net loss attributable to noncontrolling interest	265		—		—		—		265
Net income (loss) attributable to parent	$	25,350	$	11,266	$	(7,456)	$	—	$	29,160
Preferred stock dividends	—		—		35		—		35
Net income (loss) available to common shareholders	$	25,350	$	11,266	$	(7,491)	$	—	$	29,125
Capital expenditures for the nine months ended September 30, 2021	$	4,127	$	—	$	—	$	—	$	4,127

Nine Months Ended September 30, 2020	CoRe Banking		Mortgage Banking		Financial Holding Company		Intercompany Eliminations		Consolidated
(Dollars in thousands)
Interest income	$	56,693	$	6,034	$	2	$	(1,629)	$	61,100
Interest expense	9,418		3,136		78		(2,171)		10,461
Net interest income	47,275		2,898		(76)		542		50,639
Provision for loan losses	16,361		4		—		—		16,365
Net interest income (loss) after provision for loan losses	30,914		2,894		(76)		542		34,274
Total noninterest income	24,394		53,140		4,664		(6,437)		75,761
Noninterest Expenses:
Salaries and employee benefits	19,562		21,550		8,248		—		49,360
Other expense	24,172		4,780		3,837		(5,895)		26,894
Total noninterest expenses	43,734		26,330		12,085		(5,895)		76,254
Income (loss) before income taxes	11,574		29,704		(7,497)		—		33,781
Income tax expense (benefit)	2,336		7,696		(1,824)		—		8,208
Net income (loss)	$	9,238	$	22,008	$	(5,673)	$	—	$	25,573
Preferred stock dividends	—		—		345		—		345
Net income (loss) available to common shareholders	$	9,238	$	22,008	$	(6,018)	$	—	$	25,228
Capital Expenditures for the nine-month period ended September 30, 2020	$	4,092	$	99	$	20	$	—	$	4,211