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Business Segments (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of reportable operating segments

The following table provides income and asset information as of and for the twelve months ended December 31, 2025 and 2024, which are included within the Consolidated Balance Sheets and Consolidated Statements of Income.

 

 

 

Twelve Months Ended

 

 

 

December 31, 2025

 

 

 

Community Banking

 

 

Marine Lending

 

 

Wealth Management

 

 

All Other

 

 

Eliminations

 

 

Consolidated

 

 

 

(in thousands)

 

Interest Income

 

$

88,757

 

 

$

10,248

 

 

$

 

 

$

 

 

$

 

 

$

99,005

 

Interest Expense

 

 

30,943

 

 

 

4,031

 

 

 

 

 

 

1,417

 

 

 

 

 

 

36,391

 

Net Interest Income (Expense)

 

 

57,814

 

 

 

6,217

 

 

 

 

 

 

(1,417

)

 

 

 

 

 

62,614

 

Gain on sales of loans

 

 

3,375

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,375

 

(Loss) on the sale of securities

 

 

(12,425

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(12,425

)

Other noninterest income

 

 

8,305

 

 

 

 

 

 

7,628

 

 

 

 

 

 

 

 

 

15,933

 

Net Revenue

 

 

57,069

 

 

 

6,217

 

 

 

7,628

 

 

 

(1,417

)

 

 

 

 

 

69,497

 

Provision for credit losses

 

 

3,690

 

 

 

11

 

 

 

 

 

 

 

 

 

 

 

 

3,701

 

Salaries and employee benefits

 

 

30,829

 

 

 

 

 

 

2,269

 

 

 

105

 

 

 

 

 

 

33,203

 

Occupancy expenses

 

 

2,526

 

 

 

 

 

 

88

 

 

 

 

 

 

 

 

 

2,614

 

Professional fees

 

 

2,026

 

 

 

26

 

 

 

 

 

 

368

 

 

 

 

 

 

2,420

 

Data processing fees

 

 

2,127

 

 

 

 

 

 

83

 

 

 

 

 

 

 

 

 

2,210

 

Other noninterest expense

 

 

14,166

 

 

 

407

 

 

 

827

 

 

 

24

 

 

 

 

 

 

15,424

 

Total Noninterest Expenses

 

 

51,674

 

 

 

433

 

 

 

3,267

 

 

 

497

 

 

 

 

 

 

55,871

 

Income (loss) before taxes

 

 

1,705

 

 

 

5,773

 

 

 

4,361

 

 

 

(1,914

)

 

 

 

 

 

9,925

 

Income tax expense (benefit)

 

 

7

 

 

 

1,212

 

 

 

916

 

 

 

(424

)

 

 

 

 

 

1,711

 

Net Income (loss)

 

$

1,698

 

 

$

4,561

 

 

$

3,445

 

 

$

(1,490

)

 

$

 

 

$

8,214

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

1,380

 

 

$

 

 

$

26

 

 

$

 

 

$

 

 

$

1,406

 

Depreciation and amortization

 

 

987

 

 

 

 

 

 

131

 

 

 

67

 

 

 

 

 

 

1,185

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve Months Ended

 

 

 

December 31, 2024

 

 

 

Community Banking

 

 

Marine Lending

 

 

Wealth Management

 

 

All Other

 

 

Eliminations

 

 

Consolidated

 

 

 

(in thousands)

 

Interest Income

 

$

78,805

 

 

$

12,516

 

 

$

 

 

$

 

 

$

 

 

$

91,321

 

Interest Expense

 

 

33,049

 

 

 

5,628

 

 

 

 

 

 

1,417

 

 

 

 

 

 

40,094

 

Net Interest Income (Expense)

 

 

45,756

 

 

 

6,888

 

 

 

 

 

 

(1,417

)

 

 

 

 

 

51,227

 

Gain on sales of loans

 

 

2,141

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,141

 

Other noninterest income

 

 

13,792

 

 

 

 

 

 

5,624

 

 

 

 

 

 

 

 

 

19,416

 

Net Revenue

 

 

61,689

 

 

 

6,888

 

 

 

5,624

 

 

 

(1,417

)

 

 

 

 

 

72,784

 

Provision for credit losses

 

 

2,403

 

 

 

148

 

 

 

 

 

 

 

 

 

 

 

 

2,551

 

Salaries and employee benefits

 

 

28,224

 

 

 

 

 

 

1,734

 

 

 

101

 

 

 

 

 

 

30,059

 

Occupancy expenses

 

 

1,987

 

 

 

 

 

 

90

 

 

 

 

 

 

 

 

 

2,077

 

Professional fees

 

 

1,723

 

 

 

25

 

 

 

 

 

 

317

 

 

 

 

 

 

2,065

 

Data processing fees

 

 

2,399

 

 

 

 

 

 

19

 

 

 

 

 

 

 

 

 

2,418

 

Other noninterest expense

 

 

13,115

 

 

 

604

 

 

 

980

 

 

 

14

 

 

 

 

 

 

14,713

 

Total Noninterest Expenses

 

 

47,448

 

 

 

629

 

 

 

2,823

 

 

 

432

 

 

 

 

 

 

51,332

 

Income (loss) before taxes

 

 

11,838

 

 

 

6,111

 

 

 

2,801

 

 

 

(1,849

)

 

 

 

 

 

18,901

 

Income tax expense (benefit)

 

 

2,048

 

 

 

1,283

 

 

 

588

 

 

 

(361

)

 

 

 

 

 

3,558

 

Net Income (loss)

 

$

9,790

 

 

$

4,828

 

 

$

2,213

 

 

$

(1,488

)

 

$

 

 

$

15,343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

1,017

 

 

$

 

 

$

2

 

 

$

 

 

$

 

 

$

1,019

 

Depreciation and amortization

 

 

1,349

 

 

 

 

 

 

127

 

 

 

67

 

 

 

 

 

 

1,543

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Community Banking

 

 

Marine Lending

 

 

Wealth Management

 

 

All Other

 

 

Eliminations

 

 

Consolidated

 

Total assets at December 31, 2025

 

$

1,705,394

 

 

$

181,062

 

 

$

849

 

 

$

1,321

 

 

$

 

 

$

1,888,626

 

Total assets at December 31, 2024

 

 

1,645,219

 

 

 

218,055

 

 

 

955

 

 

 

1,986

 

 

 

 

 

 

1,866,215