Segment Reporting

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Reporting

(15.) SEGMENT REPORTING

The Company has one reportable segment, Banking, which includes all the Company’s retail and commercial banking operations. This reportable segment has been identified and organized based on the nature of the underlying products and services applicable to the segment, the type of customers to whom those products and services are offered and the distribution channel through which those products and services are made available.

All other segments that do not meet the quantitative threshold for separate reporting have been grouped as “All Other,” which include the activities of SDN and Courier Capital for the period ending December 31, 2023. On April 1, 2024, the Company announced and closed on the sale of the assets of its wholly owned subsidiary, SDN. See Note 1. Basis of Presentation and Summary of Significant Accounting Policies for further details on the sale of SDN. Courier Capital is our investment advisor and wealth management firm that offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Also included in “All Other” are Holding Company amounts, which are the primary differences between segment amounts and consolidated totals, along with amounts to eliminate balances and transactions between segments.

The following tables present information regarding our business segments as of and for the periods indicated (in thousands).

	Banking		All Other		Consolidated Totals
September 30, 2024
Goodwill	$	48,536	$	9,585	$	58,121
Other intangible assets, net		—		2,746		2,746
Total assets		6,126,603		29,714		6,156,317
December 31, 2023
Goodwill	$	48,536	$	18,535	$	67,071
Other intangible assets, net		—		5,433		5,433
Total assets		6,117,748		43,133		6,160,881

	Banking			All Other			Consolidated Totals
Three months ended September 30, 2024
Net interest income (expense)	$	41,741		$	(1,060	)	$	40,681
Provision for credit losses		(3,104	)		—			(3,104	)
Noninterest income		6,848			2,592			9,440
Noninterest expense		(29,940	)		(2,529	)		(32,469	)
Income before income taxes		15,545			(997	)		14,548
Income tax expense (benefit)		(1,336	)		254			(1,082	)
Net income	$	14,209		$	(743	)	$	13,466
Nine months ended September 30, 2024
Net interest income (expense)	$	125,137		$	(3,181	)	$	121,956
Benefit for credit losses		311			—			311
Noninterest income		21,333			23,022			44,355
Noninterest expense		(110,075	)		(9,427	)		(119,502	)
Income before income taxes		36,706			10,414			47,120
Income tax expense		(3,080	)		(2,875	)		(5,955	)
Net income	$	33,626		$	7,539		$	41,165

(15.) SEGMENT REPORTING (Continued)

	Banking			All Other			Consolidated Totals
Three months ended September 30, 2023
Net interest income (expense)	$	42,738		$	(1,061	)	$	41,677
Provision for credit losses		(966	)		—			(966	)
Noninterest income		6,649			3,837			10,486
Noninterest expense		(31,328	)		(3,407	)		(34,735	)
Income (loss) before income taxes	$	17,093		$	(631	)	$	16,462
Income tax (expense) benefit		(2,660	)		220			(2,440	)
Net income (loss)	$	14,433		$	(411	)	$	14,022
Nine months ended September 30, 2023
Net interest income (expense)	$	129,010		$	(3,181	)	$	125,829
Provision for credit losses		(8,410	)		—			(8,410	)
Noninterest income		20,522			12,354			32,876
Noninterest expense		(91,072	)		(11,106	)		(102,178	)
Income (loss) before income taxes	$	50,050		$	(1,933	)	$	48,117
Income tax (expense) benefit		(8,169	)		536			(7,633	)
Net income	$	41,881		$	(1,397	)	$	40,484