Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Summarized financial information for the Company's reportable segments and the reconciliation to the consolidated financial results for the periods presented is shown in the following tables:


	Three Months Ended June 30, 2025
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$38,969	$5,048	$782	$44,799
Interest expense	8,998	1,541	668	11,207
Net interest income	29,971	3,507	114	33,592
Provision (benefit) for credit losses	1,319	639	18	1,976
Net interest income after provision for credit losses	28,652	2,868	96	31,616
Net realized gains on mortgage loans sold	—	5,091	—	5,091
Change in fair value of mortgage loan commitments, net	—	(110)	—	(110)
Total production revenue	—	4,981	—	4,981
Mortgage servicing revenue	—	2,957	—	2,957
Change in fair value of mortgage servicing rights:
Due to changes in model inputs of assumptions	—	(355)	—	(355)
Other	—	(463)	—	(463)
Total mortgage servicing revenue, net	—	2,139	—	2,139
Other mortgage banking revenue	—	280	—	280
Total mortgage banking revenue	—	7,400	—	7,400
Purchased receivable income	—	—	5,897	5,897
Other operating income	3,268	—	75	3,343
Total other operating income	3,268	7,400	5,972	16,640
Salaries and other personnel expense	13,360	5,682	1,812	20,854
Data processing expense	2,960	270	136	3,366
Occupancy expense	1,476	556	72	2,104
Professional and outside services	634	258	221	1,113
Marketing expense	894	142	6	1,042
Insurance expense	734	21	1	756
Compensation expense - Sallyport acquisition payments	—	—	600	600
Other operating expense	1,706	664	283	2,653
Total other operating expense	21,764	7,593	3,131	32,488
Income before provision for income taxes	10,156	2,675	2,937	15,768
Provision for income taxes	2,413	746	831	3,990
Net income	$7,743	$1,929	$2,106	$11,778


Three Months Ended June 30, 2025
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$38,969	$5,048	$782	$44,799
Mortgage banking income - external revenue	—	7,400	—	7,400
Mortgage banking income - intersegment revenues	—	914	—	914
Purchased receivable income	—	—	5,897	5,897
Other operating income	3,268	—	75	3,343
	42,237	13,362	6,754	62,353
Reconciliation of revenue
Elimination of intersegment revenues	—	(914)	—	(914)
Total consolidated revenues	$42,237	$12,448	$6,754	$61,439
Less:
Interest expense	8,998	1,541	668	11,207
Provision (benefit) for credit losses	1,319	639	18	1,976
Segment gross profit	31,920	10,268	6,068	48,256

Less(1):
Salaries and other personnel expense	$13,360	$5,682	$1,812	$20,854
Data processing expense	2,960	270	136	3,366
Occupancy expense	1,476	556	72	2,104
Professional and outside services	634	258	221	1,113
Marketing expense	894	142	6	1,042
Insurance expense	734	21	1	756
Compensation expense - Sallyport acquisition payments	—	—	600	600
Intersegment expense	914	—	—	914
Other segment items(2)	1,706	664	283	2,653
Segment expense	22,678	7,593	3,131	33,402

Reconciliation of expense
Elimination of intersegment expense	($914)	$—	$—	(914)
Total consolidated expense	$21,764	$7,593	$3,131	$32,488

Income before provision for income taxes	$10,156	$2,675	$2,937	$15,768

1The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. All expenses are allocated to a segment.

2Other segment items for each reportable segment include:

Community Banking: OREO (income) expense, net of rental income and gains on sale, director fees, operational charge offs net of recoveries, loan collection and collateral costs, and other miscellaneous operating costs related to community banking activities.

Home Mortgage Lending: OREO (income) expense, net of rental income and gains on sale related home mortgage loans, director fees related at RML, loan collection and collateral costs related to home mortgage loans, and other miscellaneous operating costs related to home mortgage lending activities.

Specialty Finance: miscellaneous operating costs related to specialty finance activities.


	Three Months Ended June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$32,722	$4,017	$170	$36,909
Interest expense	8,404	1,242	210	9,856
Net interest income	24,318	2,775	(40)	27,053
Provision (benefit) for credit losses	(184)	64	—	(120)
Net interest income after provision for credit losses	24,502	2,711	(40)	27,173
Net realized gains on mortgage loans sold	—	3,189	—	3,189
Change in fair value of mortgage loan commitments, net	—	390	—	390
Total production revenue	—	3,579	—	3,579
Mortgage servicing revenue	—	2,164	—	2,164
Change in fair value of mortgage servicing rights:
Due to changes in model inputs of assumptions	—	239	—	239
Other	—	(320)	—	(320)
Total mortgage servicing revenue, net	—	2,083	—	2,083
Other mortgage banking revenue	—	222	—	222
Total mortgage banking revenue	—	5,884	—	5,884
Purchased receivable income	—	—	1,242	1,242
Other operating income	2,451	—	—	2,451
Total other operating income	2,451	5,884	1,242	9,577
Salaries and other personnel expense	11,234	5,104	289	16,627
Data processing expense	2,382	210	9	2,601
Occupancy expense	1,328	483	32	1,843
Professional and outside services	494	211	21	726
Marketing expense	572	117	1	690
Insurance expense	659	33	—	692
Other operating expense	1,400	539	76	2,015
Total other operating expense	18,069	6,697	428	25,194
Income before provision for income taxes	8,884	1,898	774	11,556
Provision (benefit) for income taxes	1,786	532	218	2,536
Net income	$7,098	$1,366	$556	$9,020


Three Months Ended June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$32,722	$4,017	$170	$36,909
Mortgage banking income - external revenue	—	5,884	—	5,884
Mortgage banking income - intersegment revenues	—	963	—	963
Purchased receivable income	—	—	1,242	1,242
Other operating income	2,451	—	—	2,451
	35,173	10,864	1,412	47,449
Reconciliation of revenue
Elimination of intersegment revenues	—	(963)	—	(963)
Total consolidated revenues	$35,173	$9,901	$1,412	$46,486
Less:
Interest expense	8,404	1,242	210	9,856
Provision (benefit) for credit losses	(184)	64	—	(120)
Segment gross profit	26,953	8,595	1,202	36,750

Less(1):
Salaries and other personnel expense	$11,234	$5,104	$289	$16,627
Data processing expense	2,382	210	9	2,601
Occupancy expense	1,328	483	32	1,843
Professional and outside services	494	211	21	726
Marketing expense	572	117	1	690
Insurance expense	659	33	—	692
Intersegment expense	963	—	—	963
Other segment items(2)	1,400	539	76	2,015
Segment expense	19,032	6,697	428	26,157

Reconciliation of expense
Elimination of intersegment expense	($963)	$—	$—	(963)
Total consolidated expense	$18,069	$6,697	$428	$25,194

Income before provision for income taxes	$8,884	$1,898	$774	$11,556

1The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. All expenses are allocated to a segment.

2Other segment items for each reportable segment include:

Specialty Finance: miscellaneous operating costs related to specialty finance activities.


	Six Months Ended June 30, 2025
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$75,542	$9,440	$1,378	$86,360
Interest expense	17,420	2,887	1,164	21,471
Net interest income	58,122	6,553	214	64,889
Provision (benefit) for credit losses	(449)	332	684	567
Net interest income after provision for credit losses	58,571	6,221	(470)	64,322
Net realized gains on mortgage loans sold	—	6,671	—	6,671
Change in fair value of mortgage loan commitments, net	—	550	—	550
Total production revenue	—	7,221	—	7,221
Mortgage servicing revenue	—	5,653	—	5,653
Change in fair value of mortgage servicing rights:
Due to changes in model inputs of assumptions	—	(677)	—	(677)
Other	—	(996)	—	(996)
Total mortgage servicing revenue, net	—	3,980	—	3,980
Other mortgage banking revenue	—	450	—	450
Total mortgage banking revenue	—	11,651	—	11,651
Purchased receivable income	—	—	12,047	12,047
Other operating income	5,971	—	11	5,982
Total other operating income	5,971	11,651	12,058	29,680
Salaries and other personnel expense	24,124	10,451	3,502	38,077
Data processing expense	5,630	533	307	6,470
Occupancy expense	2,858	994	141	3,993
Professional and outside services	1,195	514	519	2,228
Marketing expense	1,412	293	9	1,714
Insurance expense	1,722	44	7	1,773
Compensation expense - Sallyport acquisition payments	—	—	1,200	1,200
Other operating expense	3,404	1,254	546	5,204
Total other operating expense	40,345	14,083	6,231	60,659
Income before provision for income taxes	24,197	3,789	5,357	33,343
Provision for income taxes	5,666	1,056	1,519	8,241
Net income	$18,531	$2,733	$3,838	$25,102


Six Months Ended June 30, 2025
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$75,542	$9,440	$1,378	$86,360
Mortgage banking income - external revenue	—	11,651	—	11,651
Mortgage banking income - intersegment revenues	—	1,356	—	1,356
Purchased receivable income	—	—	12,047	12,047
Other operating income	5,971	—	11	5,982
	81,513	22,447	13,436	117,396
Reconciliation of revenue
Elimination of intersegment revenues	—	(1,356)	—	(1,356)
Total consolidated revenues	$81,513	$21,091	$13,436	$116,040
Less:
Interest expense	17,420	2,887	1,164	21,471
Provision (benefit) for credit losses	(449)	332	684	567
Segment gross profit	64,542	17,872	11,588	94,002

Less(1):
Salaries and other personnel expense	$24,124	$10,451	$3,502	$38,077
Data processing expense	5,630	533	307	6,470
Occupancy expense	2,858	994	141	3,993
Professional and outside services	1,195	514	519	2,228
Marketing expense	1,412	293	9	1,714
Insurance expense	1,722	44	7	1,773
Compensation expense - Sallyport acquisition payments	—	—	1,200	1,200
Intersegment expense	1,356	—	—	1,356
Other segment items(2)	3,404	1,254	546	5,204
Segment expense	41,701	14,083	6,231	62,015

Reconciliation of expense
Elimination of intersegment expense	($1,356)	$—	$—	(1,356)
Total consolidated expense	$40,345	$14,083	$6,231	$60,659

Income before provision for income taxes	$24,197	$3,789	$5,357	$33,343

1The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. All expenses are allocated to a segment.

2Other segment items for each reportable segment include:

Specialty Finance: miscellaneous operating costs related to specialty finance activities.


	Six Months Ended June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$65,033	$7,302	$382	$72,717
Interest expense	16,500	2,295	422	19,217
Net interest income	48,533	5,007	(40)	53,500
Provision (benefit) for credit losses	13	16	—	29
Net interest income after provision for credit losses	48,520	4,991	(40)	53,471
Net realized gains on mortgage loans sold	—	5,168	—	5,168
Change in fair value of mortgage loan commitments, net	—	777	—	777
Total production revenue	—	5,945	—	5,945
Mortgage servicing revenue	—	3,725	—	3,725
Change in fair value of mortgage servicing rights:		—		—
Due to changes in model inputs of assumptions	—	528	—	528
Other	—	(634)	—	(634)
Total mortgage servicing revenue, net	—	3,619	—	3,619
Other mortgage banking revenue	—	351	—	351
Total mortgage banking revenue	—	9,915	—	9,915
Purchased receivable income	—	—	2,587	2,587
Other operating income	4,919	—	—	4,919
Total other operating income	4,919	9,915	2,587	17,421
Salaries and other personnel expense	21,837	9,643	564	32,044
Data processing expense	4,793	448	19	5,260
Occupancy expense	2,795	947	63	3,805
Professional and outside services	1,058	384	39	1,481
Marketing expense	951	246	6	1,203
Insurance expense	1,413	58	—	1,471
Other operating expense	2,400	1,057	111	3,568
Total other operating expense	35,247	12,783	802	48,832
Income before provision for income taxes	18,192	2,123	1,745	22,060
Provision for income taxes	3,752	595	494	4,841
Net income	$14,440	$1,528	$1,251	$17,219


Six Months Ended June 30, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Interest income	$65,033	$7,302	$382	$72,717
Mortgage banking income - external revenue	—	9,915	—	9,915
Mortgage banking income - intersegment revenues	—	1,531	—	1,531
Purchased receivable income	—	—	2,587	2,587
Other operating income	4,919	—	—	4,919
	69,952	18,748	2,969	91,669
Reconciliation of revenue
Elimination of intersegment revenues	—	(1,531)	—	(1,531)
Total consolidated revenues	$69,952	$17,217	$2,969	$90,138
Less:
Interest expense	16,500	2,295	422	19,217
Provision (benefit) for credit losses	13	16	—	29
Segment gross profit	53,439	14,906	2,547	70,892

Less(1):
Salaries and other personnel expense	$21,837	$9,643	$564	$32,044
Data processing expense	4,793	448	19	5,260
Occupancy expense	2,795	947	63	3,805
Professional and outside services	1,058	384	39	1,481
Marketing expense	951	246	6	1,203
Insurance expense	1,413	58	—	1,471
Intersegment expense	1,531	—	—	1,531
Other segment items(2)	2,400	1,057	111	3,568
Segment expense	36,778	12,783	802	50,363

Reconciliation of expense
Elimination of intersegment expense	($1,531)	$—	$—	(1,531)
Total consolidated expense	$35,247	$12,783	$802	$48,832

Income before provision for income taxes	$18,192	$2,123	$1,745	$22,060

1The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker. All expenses are allocated to a segment.

2Other segment items for each reportable segment include:

Specialty Finance: miscellaneous operating costs related to specialty finance activities.


June 30, 2025
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Total assets	$2,718,030	$355,350	$170,380	$3,243,760
Loans held for sale	$—	$127,116	$—	$127,116
1-4 family residential properties secured by first liens	$—	$206,825	$—	$206,825
Purchased receivables, net	$—	$—	$109,098	$109,098
Goodwill	$7,525	$7,492	$34,857	$49,874


December 31, 2024
(In Thousands)	Community Banking	Home Mortgage Lending	Specialty Finance	Consolidated

Total assets	$2,547,709	$357,630	$136,530	$3,041,869
Loans held for sale	$—	$59,957	$—	$59,957
1-4 family residential properties secured by first liens	$—	$270,966	$—	$270,966
Purchased receivables, net	$—	$—	$74,078	$74,078
Goodwill	$7,525	$7,492	$35,001	$50,018