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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
Our operations are conducted through two operating segments: Banking and Mortgage Operations. Corporate represents costs not allocated to the operating segments. Operating segments are defined as components of an enterprise that engage in business activity from which revenues are earned and expenses are incurred for which discrete financial information is available that is evaluated regularly by executive management in deciding how to allocate resources and in assessing performance. Operating segments have been determined based on the products and services offered and reflect the manner in which financial information is currently evaluated by management. Each segment operates under the same banking charter, but is reported on a segmented basis for this report. Each of the operating segments is complementary to each other and because of the interrelationship of the segments, the information presented is not indicative of how the segments would perform if they operated as independent entities.
The Banking segment originates loans and provides deposits and fee based services to consumer, business, and mortgage lending customers. Products offered include a full range of commercial and consumer banking and financial services. The interest income on loans held-for-investment is recognized in the Banking segment, excluding newly originated residential first mortgages within the Mortgage Operations segment.
The Mortgage Operations segment originates, sells, services, and manages market risk from changes in interest rates on one-to-four family residential mortgage loans to sell or hold on our balance sheet. Loans originated-to-sell comprise the majority of the lending activity. The Mortgage Operations segment recognizes interest income on loans that are held-for-sale and newly originated residential mortgages held-for-investment, the gains from one to four family residential mortgage sales, and revenue for servicing loans and other ancillary fees following a sales transaction. Revenue from servicing activities is earned on a contractual fee basis. The Mortgage Operations segment services loans for the held-for-investment portfolio, for which it earns revenue via an intercompany service fee allocation which appears as a cost to Banking in mortgage fees. Forward traded loan purchases and sales settlements as well as mortgage servicing rights and related fair value adjustments are reported in this segment.
Corporate represents miscellaneous other expenses of a corporate nature as well as revenue and expenses not directly assigned or allocated to the Banking or Mortgage Operations segments. The majority of executive management’s time is spent managing operating segments; related costs have been allocated between the operating segments and Corporate.
Revenues are comprised of net interest income before the provision (benefit) for loan losses and noninterest income. Noninterest expenses are allocated to each operating segment. Provision for loan losses is primarily allocated to the Banking segment. Allocation methodologies may be subject to periodic adjustment as management systems evolve and/or the business or product lines within the segments change.
Significant segment totals are reconciled to the financial statements as follows for the years ended December 31,:
BankingMortgage OperationsCorporateTotal Segments
2021
Summary of Operations
Net interest income (expense)$152,515 $7,270 $(4,552)$155,233 
Provision for (benefit from) loan losses3,235 (235)— 3,000 
Noninterest income:
Service charges on deposit accounts12,504 — — 12,504 
Credit and debit card fees9,596 — — 9,596 
Trust and investment advisory fees7,795 — — 7,795 
(Loss) income from mortgage banking services, net(2,409)88,819 — 86,410 
Other noninterest income7,946 (7)— 7,939 
Total noninterest income35,432 88,812 — 124,244 
Noninterest expense:
Salary and employee benefits95,064 55,557 1,305 151,926 
Occupancy and equipment23,495 3,067 3 26,565 
Other noninterest expenses31,360 12,341 2,443 46,144 
Total noninterest expense149,919 70,965 3,751 224,635 
Income (loss) before income taxes$34,793 $25,352 $(8,303)$51,842 
Other Information
Depreciation expense$5,728 $390 $— $6,118 
Identifiable assets$5,058,281 $573,552 $34,981 $5,666,814 
BankingMortgage OperationsCorporateTotal Segments
2020
Summary of Operations
Net interest income (expense)$132,130 $7,335 $(3,512)$135,953 
Provision for (benefit from) loan losses23,329 (229)— 23,100 
Noninterest income:
Service charges on deposit accounts9,630 — — 9,630 
Credit and debit card fees7,994 — — 7,994 
Trust and investment advisory fees5,201 — — 5,201 
(Loss) income from mortgage banking services, net(2,123)124,297 — 122,174 
Other noninterest income3,407 (21)— 3,386 
Total noninterest income24,109 124,276 — 148,385 
Noninterest expense:
Salary and employee benefits86,306 52,628 1,046 139,980 
Occupancy23,428 3,284 4 26,716 
Other noninterest expenses25,203 12,110 64 37,377 
Total noninterest expense134,937 68,022 1,114 204,073 
(Loss) income before income taxes$(2,027)$63,818 $(4,626)$57,165 
Other Information
Depreciation expense$5,623 $381 $— $6,004 
Identifiable assets$4,463,545 $495,473 $36,439 $4,995,457 
BankingMortgage OperationsCorporateTotal Segments
2019
Summary of Operations
Net interest income (expense)$124,246 $5,458 $(2,482)$127,222 
Provision for loan losses4,895 1,155 — 6,050 
Noninterest income:
Service charges on deposit accounts11,104 — — 11,104 
Credit and debit card fees7,785 — — 7,785 
Trust and investment advisory fees3,768 — — 3,768 
(Loss) income from mortgage banking services, net(1,805)44,797 — 42,992 
Other noninterest income5,394 (76)— 5,318 
Total noninterest income26,246 44,721 — 70,967 
Noninterest expense:
Salary and employee benefits72,153 31,698 848 104,699 
Occupancy19,932 3,502 5 23,439 
Other noninterest expenses29,902 9,646 2,514 42,062 
Total noninterest expense121,987 44,846 3,367 170,200 
Income (loss) before income taxes$23,610 $4,178 $(5,849)$21,939 
Other Information
Depreciation expense$5,027 $329 $— $5,356 
Identifiable assets$3,761,014 $404,096 $20,333 $4,185,443