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Segment Information (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information Information reported internally for performance assessment follows for the nine months ended September 30, 2024 and September 30, 2023:

 

 

 

 

 

 

Mortgage

 

 

Total

 

 

 

Banking

 

 

Banking

 

 

Segments

 

September 30, 2024

 

 

 

 

 

 

 

 

 

Net Interest income

 

$

30,841

 

 

$

2,400

 

 

$

33,241

 

Gain on sale of mortgage loans

 

 

 

 

 

10,706

 

 

 

10,706

 

Other revenue

 

 

3,284

 

 

 

3,357

 

 

 

6,641

 

Total operating revenue

 

$

34,125

 

 

$

16,463

 

 

$

50,588

 

Salaries and employee benefits

 

$

17,952

 

 

$

13,263

 

 

$

31,215

 

Mortgage servicing rights amortization

 

 

 

 

 

397

 

 

 

397

 

Hedging activity, net

 

 

 

 

 

581

 

 

 

581

 

Provision for credit losses and other expenses

 

 

14,579

 

 

 

4,903

 

 

 

19,482

 

Income tax expense (benefit)

 

 

299

 

 

 

(533

)

 

 

(234

)

Total expenses

 

$

32,830

 

 

$

18,611

 

 

$

51,441

 

Segment profit (loss)

 

$

1,295

 

 

$

(2,148

)

 

$

(853

)

Segment assets

 

$

1,354,288

 

 

$

53,392

 

 

$

1,407,680

 

 

 

 

 

 

 

 

 

 

 

September 30, 2023

 

 

 

 

 

 

 

 

 

Net Interest income

 

$

30,258

 

 

$

2,886

 

 

$

33,144

 

Gain on sale of mortgage loans

 

 

 

 

 

9,932

 

 

 

9,932

 

Other revenue

 

 

3,208

 

 

 

7,368

 

 

 

10,576

 

Total operating revenue

 

$

33,466

 

 

$

20,186

 

 

$

53,652

 

Salaries and employee benefits

 

$

16,079

 

 

$

15,540

 

 

$

31,619

 

Mortgage servicing rights amortization

 

 

 

 

 

1,574

 

 

 

1,574

 

Hedging activity, net

 

 

 

 

 

(369

)

 

 

(369

)

Provision for credit losses and other expenses

 

 

13,022

 

 

 

5,147

 

 

 

18,169

 

Income tax expense (benefit)

 

 

727

 

 

 

(368

)

 

 

359

 

Total expenses

 

$

29,828

 

 

$

21,524

 

 

$

51,352

 

Segment profit (loss)

 

$

3,638

 

 

$

(1,338

)

 

$

2,300

 

Segment assets

 

$

1,052,234

 

 

$

41,859

 

 

$

1,094,093