Business Segments

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company has evaluated its operations and identified that it has one reportable business segment: the Banking Segment.

Loans and investments are the primary sources of revenues in the Banking Segment. Interest expense, provision for credit losses, and salaries and benefits are usually the most significant expenses in the Banking Segment. All operations are domestic.

The accounting policies of the Banking Segment are the same as those described in the significant accounting policies. The segment was determined based upon how the Company’s Chief Operating Decision Maker (“CODM”) reviews the Company’s performance. The Company’s CODM is the CEO. As a part of the CODM review, pre-tax net income is utilized to allocate resources.