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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Reconciliation of Assets and Revenues from Segment to Consolidated
Information about reportable segments, and reconciliation of such information to the Consolidated Financial Statements as of and for the three and nine months ended September 30, 2024 and 2023 follows:
   
Three Months Ended September 30, 2024
 
(dollars in thousands)
 
Bank
   
Wealth
   
Parent
   
Eliminations
   
Consolidated
 
Revenues
                             
Interest and dividend income
 
$
18,465
   
$
55
   
$
2,820
   
$
(2,820
)
 
$
18,520
 
Income from fiduciary activities
   
-
     
1,177
     
-
     
(51
)
   
1,126
 
Other income
   
2,108
     
217
     
50
     
(29
)
   
2,346
 
Total operating income
   
20,573
     
1,449
     
2,870
     
(2,900
)
   
21,992
 
                                         
Expenses
                                       
Interest expense
   
5,915
     
-
     
295
     
-
     
6,210
 
Provision for credit losses
   
282
     
-
     
-
     
-
     
282
 
Salaries and employee benefits
   
6,192
     
1,031
     
210
     
(51
)
   
7,382
 
Other expenses
   
4,613
     
330
     
99
     
(30
)
   
5,012
 
Total operating expenses
   
17,002
     
1,361
     
604
     
(81
)
   
18,886
 
                                         
Income before taxes
   
3,571
     
88
     
2,266
     
(2,819
)
   
3,106
 
                                         
Income tax expense (benefit)
   
820
     
20
     
(116
)
   
-
     
724
 
                                         
Net income
 
$
2,751
   
$
68
   
$
2,382
   
$
(2,819
)
 
$
2,382
 
                                         
Capital expenditures
 
$
164
   
$
-
   
$
-
   
$
-
   
$
164
 

   
Three Months Ended September 30, 2023
 
(dollars in thousands)
 
Bank
   
Wealth
   
Parent
   
Eliminations
   
Consolidated
 
Revenues
                             
Interest and dividend income
 
$
17,154
   
$
35
   
$
1,821
   
$
(1,821
)
 
$
17,189
 
Income from fiduciary activities
   
-
     
1,012
     
-
     
-
     
1,012
 
Other income
   
2,215
     
270
     
50
     
(65
)
   
2,470
 
Total operating income
   
19,369
     
1,317
     
1,871
     
(1,886
)
   
20,671
 
                                         
Expenses
                                       
Interest expense
   
5,468
     
-
     
295
     
-
     
5,763
 
Provision for credit losses
   
505
     
-
     
-
     
-
     
505
 
Salaries and employee benefits
   
6,589
     
1,018
     
223
     
-
     
7,830
 
Other expenses
   
4,657
     
347
     
112
     
(65
)
   
5,051
 
Total operating expenses
   
17,219
     
1,365
     
630
     
(65
)
   
19,149
 
                                         
Income (loss) before taxes
   
2,150
     
(48
)
   
1,241
     
(1,821
)
   
1,522
 
                                         
Income tax expense (benefit)
   
290
     
(9
)
   
(121
)
   
-
     
160
 
                                         
Net income (loss)
 
$
1,860
   
$
(39
)
 
$
1,362
   
$
(1,821
)
 
$
1,362
 
                                         
Capital expenditures
 
$
398
   
$
-
   
$
-
   
$
-
   
$
398
 
   
Nine Months Ended September 30, 2024
 
(dollars in thousands)
 
Bank
   
Wealth
   
Parent
   
Eliminations
   
Consolidated
 
Revenues
                             
Interest and dividend income
 
$
53,875
   
$
146
   
$
7,941
   
$
(7,941
)
 
$
54,021
 
Income from fiduciary activities
   
-
     
3,573
     
-
     
(126
)
   
3,447
 
Other income
   
6,100
     
664
     
150
     
(196
)
   
6,718
 
Total operating income
   
59,975
     
4,383
     
8,091
     
(8,263
)
   
64,186
 
                                         
Expenses
                                       
Interest expense
   
17,170
     
-
     
885
     
-
     
18,055
 
Provision for credit losses
   
623
     
-
     
-
     
-
     
623
 
Salaries and employee benefits
   
18,992
     
2,942
     
600
     
(126
)
   
22,408
 
Other expenses
   
13,818
     
1,065
     
327
     
(197
)
   
15,013
 
Total operating expenses
   
50,603
     
4,007
     
1,812
     
(323
)
   
56,099
 
                                         
Income before taxes
   
9,372
     
376
     
6,279
     
(7,940
)
   
8,087
 
                                         
Income tax expense (benefit)
   
1,725
     
83
     
(349
)
   
-
     
1,459
 
                                         
Net income
 
$
7,647
   
$
293
   
$
6,628
   
$
(7,940
)
 
$
6,628
 
                                         
Capital expenditures
 
$
2,115
   
$
-
   
$
-
   
$
-
   
$
2,115
 

   
Nine Months Ended September 30, 2023
 
(dollars in thousands)
 
Bank
   
Wealth
   
Parent
   
Eliminations
   
Consolidated
 
Revenues
                             
Interest and dividend income
 
$
48,587
   
$
102
   
$
7,622
   
$
(7,622
)
 
$
48,689
 
Income from fiduciary activities
   
-
     
3,282
     
-
     
-
     
3,282
 
Other income
   
6,420
     
724
     
150
     
(196
)
   
7,098
 
Total operating income
   
55,007
     
4,108
     
7,772
     
(7,818
)
   
59,069
 
                                         
Expenses
                                       
Interest expense
   
11,466
     
-
     
885
     
-
     
12,351
 
Provision for credit losses
   
1,242
     
-
     
-
     
-
     
1,242
 
Salaries and employee benefits
   
19,419
     
3,191
     
626
     
-
     
23,236
 
Other expenses
   
13,786
     
992
     
378
     
(196
)
   
14,960
 
Total operating expenses
   
45,913
     
4,183
     
1,889
     
(196
)
   
51,789
 
                                         
Income (loss) before taxes
   
9,094
     
(75
)
   
5,883
     
(7,622
)
   
7,280
 
                                         
Income tax expense (benefit)
   
1,409
     
(12
)
   
(364
)
   
-
     
1,033
 
                                         
Net income (loss)
 
$
7,685
   
$
(63
)
 
$
6,247
   
$
(7,622
)
 
$
6,247
 
                                         
Capital expenditures
 
$
885
   
$
-
   
$
-
   
$
-
   
$
885
 

(dollars in thousands)
  Bank
    Wealth     Parent
    Eliminations
    Consolidated
 
Total assets at September 30,2024
  $ 1,468,349     $ 7,583     $ 145,560     $ (143,483 )   $ 1,478,009  
Total assets at December 31, 2023
  $ 1,437,603     $ 7,235     $ 137,004     $ (135,460 )   $
1,446,382