SEGMENT REPORTING

12 Months Ended

Dec. 31, 2024

SEGMENT REPORTING

SEGMENT REPORTING

NOTE Q: SEGMENT REPORTING

The Company is engaged in a single line of business as a financial institution, which provides a full range of banking, financial and trust services to state, county and local government entities and individuals and small and commercial businesses.  The Company has identified its President and Chief Executive Officer as the chief operating decision maker (“CODM”), who uses consolidated net income (see Consolidated Statements of Operation) to determine how resources should be allocated and manage the Company.  The Company’s operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies described in Note A.  The Company’s most significant reported source of income and expense are interest income and interest expense (see Consolidated Statements of Operations).  The remaining significant segment income and expenses are described in the Consolidated Statements of Operations and in Note K of these financial statements.