XML 32 R21.htm IDEA: XBRL DOCUMENT v3.26.1
SEGMENT REPORTING
3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
The Company has two reportable segments, which consist of Wealth Management and Mortgage. The chief operating decision maker (CODM) is the Chief Executive Officer. The measure of profit or loss used by the CODM to identify and measure the Company’s reportable segments is income before income tax. The CODM uses income before income tax to determine resource allocation during the annual budget and forecast process and to monitor monthly budgeted versus actual results in assessing performance of the segments.
The Wealth Management segment consists of operations relative to the Company’s fully integrated wealth management products and services. Services provided include deposit, loan, insurance, and trust and investment management advisory products and services. Parent company activity primarily consists of subordinated debt interest expense and is included within Wealth Management as management evaluates and makes business decisions for Wealth Management, including the parent company, collectively as one segment.
The Mortgage segment consists of operations relative to the Company’s residential mortgage service offerings. Mortgage products and services are financial in nature for which premiums are recognized net of expenses, upon the sale of mortgage loans to third parties.
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 or for the three months ended March 31, 2026Wealth
Management
MortgageConsolidated
Income Statement
Total interest income$40,701 $404 $41,105 
Total interest expense20,222 — 20,222 
Release of credit losses(728)— (728)
Net interest income, after release of credit losses21,207 404 21,611 
Net (loss) gain on mortgage loans(8)1,466 1,458 
All other non-interest income(1)
5,198 — 5,198 
Total income before non-interest expense26,397 1,870 28,267 
Salaries and employee benefits expense11,739 1,196 12,935 
Depreciation and amortization expense635 640 
All other non-interest expense(2)
6,181 408 6,589 
Income before income taxes$7,842 $261 $8,103 
Goodwill$30,400 $— $30,400 
Total assets3,209,437 31,280 3,240,717 
______________________________________
(1)All other non-interest income for Wealth Management primarily includes Trust and investment management fees, Bank fees, Risk management and Insurance fees, and Income on company-owned life insurance.
(2)All other non-interest expense for Wealth Management primarily includes Occupancy and equipment, Professional services, Data processing, Technology and information systems, and Other. All other non-interest expense for Mortgage primarily includes Data processing, Occupancy and equipment, and Other.
As of or for the three months ended March 31, 2025Wealth
Management
MortgageConsolidated
Income Statement
Total interest income$37,026 $183 $37,209 
Total interest expense19,756 — 19,756 
Provision for credit losses80 — 80 
Net interest income, after provision for credit losses17,190 183 17,373 
Net (loss) gain on mortgage loans(15)1,082 1,067 
All other non-interest income(1)
6,278 — 6,278 
Total income before non-interest expense23,453 1,265 24,718 
Salaries and employee benefits expense10,635 845 11,480 
Depreciation and amortization expense667 672 
All other non-interest expense(2)
6,815 394 7,209 
Income before income taxes$5,336 $21 $5,357 
Goodwill$30,400 $— $30,400 
Total assets 2,893,676 12,624 2,906,300 
______________________________________
(1)All other non-interest income for Wealth Management primarily includes Trust and investment management fees, Bank fees, Risk management and insurance fees, and Net gain on other real estate owned.
(2)All other non-interest expense for Wealth Management primarily includes Occupancy and equipment, Professional services, Technology and information systems, Data processing, and Other. All other non-interest expense for Mortgage primarily includes Occupancy and equipment, Data processing, and Other.