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Segment Information (Tables)
12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Reconciliations of Segment Information reported internally for performance assessment by the chief operating decision maker follows, inclusive of reconciliations of segment totals to the financial statements.

 

 

For the year ended December 31,

 

(In thousands)

 

2024

 

 

2023

 

 

 

 

 

 

 

 

Interest Income

 

$

158,724

 

 

$

65,198

 

 

 

 

 

 

 

 

Reconciliation of revenue

 

 

 

 

 

 

Other revenues

 

 

8,862

 

 

 

1,087

 

Total consolidated revenues

 

$

167,586

 

 

$

66,285

 

 

 

 

 

 

 

 

Interest Expense

 

 

58,830

 

 

 

26,487

 

Segment net interest income and noninterest income

 

$

108,756

 

 

$

39,798

 

 

 

 

 

 

 

 

Provision for credit losses

 

 

257

 

 

 

9,295

 

Salaries and employee benefits

 

 

41,061

 

 

 

20,612

 

Other Expenses

 

 

41,229

 

 

 

21,859

 

Consolidated net income (loss)

 

$

26,209

 

 

$

(11,968

)

 

 

 

 

 

 

 

Other segment disclosures

 

 

 

 

 

 

Interest income

 

$

158,724

 

 

$

65,198

 

Interest expense

 

$

58,830

 

 

$

26,487

 

Depreciation

 

$

1,892

 

 

$

1,121

 

Amortization

 

$

4,778

 

 

$

663

 

 

 

 

 

 

 

 

Other significant noncash items:

 

 

 

 

 

 

     Provision for credit loss

 

$

257

 

 

$

9,295

 

 

 

 

 

 

 

 

Total consolidated assets

 

$

2,878,778

 

 

$

2,669,325