Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

19. Segment Information

The Company has two reportable segments: traditional banking and mortgage banking. Revenues from traditional banking operations consist primarily of interest and fees earned on loans held for investment and securities and fees from deposit services. Mortgage banking operating revenues consist principally of interest earned on mortgage loans held for sale, gains on sales of loans in the secondary mortgage market, and mortgage loan origination fee income. Segment performance is primarily evaluated, by the chief operating decision maker (“CODM”), using operating revenue. The Company has identified the Chief Financial Officer as the CODM. Income taxes are allocated, and material indirect expenses are allocated by volume. Mortgage banking is an internal division of Fidelity Bank and not a separate legal entity. Information reported internally for performance assessment follows for the years ended December 31, 2024 and 2023.

			Mortgage			Total
	Banking		Banking			Segments
December 31, 2024
Net Interest income	$	43,337	$	3,119		$	46,456
Gain on sale of mortgage loans		—		12,739			12,739
Other revenue		3,791		3,479			7,270
Total operating revenue	$	47,128	$	19,337		$	66,465
Salaries and employee benefits	$	23,845	$	17,097		$	40,942
Mortgage servicing rights amortization		—		503			503
Hedging activity, net		—		(7	)		(7	)
Provision for credit losses and other expenses		19,228		12,150			31,378
Income tax expense (benefit)		689		(826	)		(137	)
Total expenses	$	43,762	$	28,917		$	72,679
Segment profit (loss)	$	3,366	$	(9,580	)	$	(6,214	)
Supplemental disclosures:
Segment assets	$	1,185,090	$	35,843		$	1,220,933
Depreciation and amortization	$	2,319	$	716		$	3,035
Goodwill impairment	$	—	$	(5,786	)	$	(5,786	)
December 31, 2023
Net Interest income	$	40,628	$	3,540		$	44,168
Gain on sale of mortgage loans		—		12,526			12,526
Other revenue		4,013		8,386			12,399
Total operating revenue	$	44,641	$	24,452		$	69,093
Salaries and employee benefits	$	21,114	$	19,615		$	40,729
Mortgage servicing rights amortization		—		1,763			1,763
Hedging activity, net		—		247			247
Provision for credit losses and other expenses		18,111		6,795			24,906
Income tax expense (benefit)		1,057		(727	)		330
Total expenses	$	40,282	$	27,693		$	67,975
Segment profit (loss)	$	4,359	$	(3,241	)	$	1,118
Supplemental disclosures:
Segment assets	$	1,090,761	$	34,171		$	1,124,932
Depreciation and amortization	$	2,190	$	1,983		$	4,173