SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

The following presents the financial information for each segment that is specifically identifiable or based on allocations using internal methods as of or during the periods presented (dollars in thousands):


As of and for the year ended December 31, 2024	Wealth Management		Mortgage		Consolidated
Income Statement
Total interest and dividend income	$	151,519	$	1,132	$	152,651
Total interest expense	88,327		—		88,327
Provision for credit losses	1,933		—		1,933
Net interest income, after provision for credit losses	61,259		1,132		62,391
Net gain on mortgage loans	—		4,912		4,912
All other non-interest income(1)	22,768		—		22,768
Total income before non-interest expense	84,027		6,044		90,071
Salaries and employee benefits expense	41,442		3,598		45,040
Depreciation and amortization expense	2,535		30		2,565
All other non-interest expense(2)	29,421		1,466		30,887
Income before income taxes	$	10,629	$	950	$	11,579

Goodwill	$	30,400	$	—	$	30,400
Total assets	2,891,615		27,422		2,919,037

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(1)All other non-interest income for Wealth Management primarily includes Trust and investment management fees, Bank fees, Risk management and insurance fees, Net loss on loans accounted for under the fair value option, and Other.

(2)All other non-interest expense for Wealth Management primarily includes Occupancy and equipment, Professional services, Technology and information systems, Data processing, Marketing, and Other. All other non-interest expense for Mortgage primarily includes Occupancy and equipment, Data processing, and Other.


As of and for the year ended December 31, 2023	Wealth Management		Mortgage		Consolidated
Income Statement
Total interest and dividend income	$	144,837	$	721	$	145,558
Total interest expense	74,453		—		74,453
Provision for loan losses	10,355		—		10,355
Net interest income, after provision for loan losses	60,029		721		60,750
Net gain on mortgage loans	—		2,826		2,826
All other non-interest income(1)	19,122		—		19,122
Total income before non-interest expense	79,151		3,547		82,698
Salaries and employee benefits expense	40,656		4,546		45,202
Depreciation and amortization expense	2,344		33		2,377
All other non-interest expense(2)	26,491		1,567		28,058
Income (loss) before income taxes	$	9,660	$	(2,599)	$	7,061

Goodwill	$	30,400	$	—	$	30,400
Total assets	2,966,612		8,850		2,975,462

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