Operating Segments

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Operating Segments

OPERATING SEGMENTS

The Company has two reportable segments: Banking and Residential Mortgage Lending. The Banking segment provides a variety of traditional community banking services through its full-service banking centers located in St. Petersburg, Seminole, Pinellas Park, Clearwater, Sarasota,Tampa, and Belleair Bluffs, Florida, as well as SBA lending services throughout the nation. The Residential Mortgage Lending segment originates residential mortgage loans primarily for sale in the secondary market with offices throughout the nation. Loans and deposits provide the revenues in the Banking segment and loan sales provide the revenues in the Residential Lending segment.

Segment profit and loss is measured by net income after income tax. Inter-segment transactions are recorded at cost and eliminated as part of the consolidation process. Due to the interrelationships of the various segments, the information presented is not indicative of how the segments would perform if they operated as independent entities.

Information about reportable segments and reconciliation of such information to the Consolidated Financial Statements follows:

	Year Ended December 31, 2021						Year Ended December 31, 2020
	Residential Mortgage		Banking		Consolidated		Residential Mortgage		Banking		Consolidated
Interest income	$	3,717	$	43,826	$	47,543	$	2,684	$	41,046	$	43,730
Interest expense	2,480		4,820		7,300		1,914		8,364		10,278
Net interest income	1,237		39,006		40,243		770		32,682		33,452
Provision for loan losses	—		(3,500)		(3,500)		—		16,900		16,900
Noninterest income:
Residential loan fee income	95,543		—		95,543		92,678		—		92,678
Internal transfer for portfolio loans originated	336		(336)		—		35		(35)		—
Other noninterest income	49		21,985		22,034		64		4,953		5,017
Total noninterest income	95,928		21,649		117,577		92,777		4,918		97,695
Total noninterest expense	80,279		48,563		128,842		65,229		33,240		98,469
Income before income tax expense	16,886		15,592		32,478		28,318		(12,540)		15,778
Income tax expense	4,661		3,199		7,860		7,929		(4,854)		3,075
Net income	$	12,225	$	12,393	$	24,618	$	20,389	$	(7,686)	$	12,703
Period end assets	$	115,810	$	801,285	$	917,095	$	217,422	$	1,327,269	$	1,544,691