Business Segments (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of reportable operating segments

The following tables provide income and asset information as of September 30, 2024 and December 31, 2023 and for three and nine months ended September 30, 2024 and 2023, which are included within the Consolidated Balance Sheets and Consolidated Statements of Income. The results by business segment are based on management’s accounting process, which assigns income statement items and assets to each operating segment. Given the Company's reportable segments are contained within the Bank, management must make certain allocations of expenses, which may not be representative of the costs expected to be incurred if the specific business segments operated as stand-alone entities. The Company expects it will continue to evaluate its business segments and internal reporting structure, including the production of discrete financial information to the chief operating decision-maker.

	Three Months Ended
	September 30, 2024
	Community Banking		Marine Lending			Wealth Management		All Other			Eliminations		Consolidated
	(in thousands)
Interest Income	$	20,626	$	3,060		$	—	$	—		$	—	$	23,686
Interest Expense		8,730		1,445			—		354			—		10,529
Net Interest Income (Expense)		11,896		1,615			—		(354	)		—		13,157
Gain on sales of loans		627		—			—		—			—		627
Other noninterest income		3,108		—			1,516		—			—		4,624
Net Revenue (Expense)		15,631		1,615			1,516		(354	)		—		18,408
Provision for (recovery of) credit losses		1,609		(65	)		—		—			—		1,544
Noninterest expense		11,957		114			727		92			—		12,890
Income (loss) before taxes		2,065		1,566			789		(446	)		—		3,974
Income tax expense (benefit)		145		328			166		(89	)		—		550
Net Income (Loss)	$	1,920	$	1,238		$	623	$	(357	)	$	—	$	3,424
Other data:
Capital expenditures	$	231	$	—		$	—	$	—		$	—	$	231
Depreciation and amortization		431		—			32		17			—		480
	Three Months Ended
	September 30, 2023
	Community Banking		Marine Lending			Wealth Management		All Other			Eliminations		Consolidated
	(in thousands)
Interest Income	$	17,770	$	4,412		$	—	$	—		$	—	$	22,182
Interest Expense		7,563		1,358			—		354			—		9,275
Net Interest Income (Expense)		10,207		3,054			—		(354	)		—		12,907
Gain on sales of loans		253		12			—		—			—		265
Other noninterest income		1,750		1,013			1,190		—			—		3,953
Net Revenue (Expense)		12,210		4,079			1,190		(354	)		—		17,125
Provision for (recovery of) credit losses		453		(237	)		—		—			—		216
Noninterest expense		11,131		2,285			629		88			—		14,133
Income (loss) before taxes		626		2,031			561		(442	)		—		2,776
Income tax expense (benefit)		3		427			117		(90	)		—		457
Net Income (Loss)	$	623	$	1,604		$	444	$	(352	)	$	—	$	2,319
Other data:
Capital expenditures	$	1,120	$	—		$	—	$	—		$	—	$	1,120
Depreciation and amortization		715		32			31		17			—		795

	Nine Months Ended
	September 30, 2024
	Community Banking		Marine Lending			Wealth Management		All Other			Eliminations		Consolidated
	(in thousands)
Interest Income	$	57,625	$	9,702		$	—	$	—		$	—	$	67,327
Interest Expense		24,239		4,297			—		1,063			—		29,599
Net Interest Income (Expense)		33,386		5,405			—		(1,063	)		—		37,728
Gain on sales of loans		1,280		—			—		—			—		1,280
Other noninterest income		7,512		—			4,244		—			—		11,756
Net Revenue (Expense)		42,178		5,405			4,244		(1,063	)		—		50,764
Provision for credit losses		1,902		298			—		—			—		2,200
Noninterest expense		34,936		467			2,074		300			—		37,777
Income (loss) before taxes		5,340		4,640			2,170		(1,363	)		—		10,787
Income tax expense (benefit)		466		974			456		(266	)		—		1,630
Net Income (Loss)	$	4,874	$	3,666		$	1,714	$	(1,097	)	$	—	$	9,157
Other data:
Capital expenditures	$	743	$	—		$	3	$	—		$	—	$	746
Depreciation and amortization		1,014		—			95		51			—		1,160
	Nine Months Ended
	September 30, 2023
	Community Banking		Marine Lending			Wealth Management		All Other			Eliminations		Consolidated
	(in thousands)
Interest Income	$	49,454	$	11,634		$	—	$	—		$	—	$	61,088
Interest Expense		18,015		4,033			—		1,063			—		23,111
Net Interest Income (Expense)		31,439		7,601			—		(1,063	)		—		37,977
Gain on sales of loans		589		324			—		—			—		913
Other noninterest income		5,487		1,106			3,611		—			—		10,204
Net Revenue (Expense)		37,515		9,031			3,611		(1,063	)		—		49,094
Provision for (recovery of) credit losses		1,405		(122	)		—		—			—		1,283
Noninterest expense		32,247		4,925			1,902		400			—		39,474
Income (loss) before taxes		3,863		4,228			1,709		(1,463	)		—		8,337
Income tax expense (benefit)		443		888			359		(315	)		—		1,375
Net Income (Loss)	$	3,420	$	3,340		$	1,350	$	(1,148	)	$	—	$	6,962
Other data:
Capital expenditures	$	1,091	$	36		$	—	$	—		$	—	$	1,127
Depreciation and amortization		989		224			94		51			—		1,358

	Community Banking		Marine Lending		Wealth Management		All Other		Eliminations		Consolidated
Total assets at September 30, 2024	$	1,646,503	$	233,065	$	987	$	1,146	$	—	$	1,881,701
Total assets at December 31, 2023	$	1,562,600	$	261,011	$	1,080	$	906	$	—	$	1,825,597