Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

12. 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 three months ended March 31, 2025 and March 31, 2024.

			Mortgage			Total
	Banking		Banking			Segments
March 31, 2025
Net Interest income	$	12,249	$	552		$	12,801
Gain on sale of mortgage loans		—		3,340			3,340
Other revenue		935		127			1,062
Total operating revenue	$	13,184	$	4,019		$	17,203
Salaries and employee benefits	$	6,158	$	3,399		$	9,557
Mortgage servicing rights amortization		—		91			91
Hedging activity, net		—		430			430
Provision for credit losses and other expenses		4,751		1,496			6,247
Income tax expense (benefit)		466		(293	)		173
Total expenses	$	11,375	$	5,123		$	16,498
Segment profit (loss)	$	1,809	$	(1,104	)	$	705
Supplemental disclosures:
Segment assets	$	1,209,161	$	28,613		$	1,237,774
Depreciation and amortization	$	583	$	144		$	727
March 31, 2024
Net Interest income	$	10,175	$	705		$	10,880
Gain on sale of mortgage loans		—		3,308			3,308
Other revenue		1,030		375			1,405
Total operating revenue	$	11,205	$	4,388		$	15,593
Salaries and employee benefits	$	5,803	$	4,280		$	10,083
Mortgage servicing rights amortization		—		159			159
Hedging activity, net		—		(93	)		(93	)
Provision for credit losses and other expenses		4,860		1,621			6,481
Income tax expense (benefit)		100		(330	)		(230	)
Total expenses	$	10,763	$	5,637		$	16,400
Segment profit (loss)	$	442	$	(1,249	)	$	(807	)
Supplemental disclosures:
Segment assets	$	1,076,565	$	43,801		$	1,120,366
Depreciation and amortization	$	584	$	213		$	797