SEGMENT REPORTING

12 Months Ended

Dec. 31, 2024

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

21. SEGMENT REPORTING

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

Accounting policies for the segment are the same as those described in Note 1.  The measure of segment assets is reported on the balance sheet as total consolidated assets. 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 significant segment totals to the financial statements:

	Community Banking
	2024		2023		2022
Total Interest and Dividend Income	$	154,317	$	127,118	$	83,357
Total non-interest income		15,401		11,605		9,738
Total Consolidated Revenues		169,718		138,723		93,095
Less:
Interest Expense		67,862		46,858		11,223
Segment net interest income and non-interest income		101,856		91,865		81,872
Less:
Provision for credit losses		2,587		5,528		1,683
Salaries and employee benefits		39,347		34,990		27,837
Occupancy		5,013		4,123		3,138
Other segment expenses		21,226		25,709		13,719
Income Taxes		5,865		3,704		6,435
Segment net income/consolidated net income	$	27,818	$	17,811	$	29,060