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Segment Information
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information

22. SEGMENT INFORMATION

 

The Company's reportable segment is determined by the Chief Executive Officer who is the designated chief operating decision maker, based upon information about the Company's banking products and services offered. The segment is also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business, such as branches and products offered, which are then aggregated if operating performance, products and services, and customers are similar. The chief operating decision maker will evaluate the financial performance of the Company's business components by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Company's reportable segment and in the determination of allocating resources. The chief operating decision maker uses revenue streams to evaluate product pricing and significant expenses to assess performance and return on assets. The chief operating decision maker uses consolidated net income to benchmark the Company against its competitors. The benchmarking analysis coupled with the monitoring of budget to actual results are used in assessment performance and in establishing compensation. Interest income on loans and investments primarily provide the revenues in the banking segment. Interest expense on deposits and borrowings, provisions for credit losses, and payroll provide significant expenses in the banking operation.

Accounting policies for segments are the same as those described in Note 1. Segment performance is evaluated using consolidated net income. 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)

2025

 

 

2024

 

 

 

 

 

 

Interest Income

$

164,589

 

 

$

158,724

 

 

 

 

 

 

 

Reconciliation of revenue

 

 

 

 

 

Other revenues

 

21,915

 

 

 

8,862

 

Total consolidated revenues

$

186,504

 

 

$

167,586

 

 

 

 

 

 

 

Interest Expense

 

60,299

 

 

 

58,830

 

Segment net interest income and noninterest income

$

126,205

 

 

$

108,756

 

 

 

 

 

 

 

Provision for credit losses

 

8,169

 

 

 

257

 

Salaries and employee benefits

 

43,144

 

 

 

41,061

 

Other Expenses

 

41,381

 

 

 

41,229

 

Consolidated net income

$

33,511

 

 

$

26,209

 

 

 

 

 

 

 

Other segment disclosures

 

 

 

 

 

Gain on sale of branches

$

11,093

 

 

$

 

Interest income

$

164,589

 

 

$

158,724

 

Interest expense

$

60,299

 

 

$

58,830

 

Depreciation

$

1,648

 

 

$

1,892

 

Amortization of intangible assets

$

4,291

 

 

$

4,778

 

 

 

 

 

 

 

Other significant noncash items:

 

 

 

 

 

     Provision for credit losses

$

8,169

 

 

$

257