v3.25.2
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Summarized Financial Information Showing Reconciliation of Segment Net Income Loss and Assets to Consolidated Results
The Holding Company and CFS columns below includes income and expenses related to insurance products, mutual funds, and brokerage services (in thousands).
 Three Months Ended June 30, 2025
 Core BankingWMGHolding Company and CFSInter-Segment EliminationsConsolidated Totals
Interest and dividend income$33,033 $— $2 $(1)$33,034 
Interest expense12,020 — 207 (1)12,226 
Net interest income21,013 — (205)— 20,808 
Provision for credit losses1,145 — — — 1,145 
Net interest income after provision for credit losses19,868 — (205)— 19,663 
Non-interest income(13,968)2,993 274 (4)(10,705)
Non-interest expenses:
  Compensation expense8,078 1,320 180 — 9,578 
  Net occupancy expense1,363 68 4 (4)1,431 
  Furniture and equipment expense418 21 16 — 455 
  Data processing & software expense2,251 308 4 — 2,563 
  Other non-interest expenses3,331 250 161 — 3,742 
Total non-interest expense15,441 1,967 365 (4)17,769 
Income before income tax expense (benefit)(9,541)1,026 (296)— (8,811)
Income tax expense (benefit)(2,496)224 (87)— (2,359)
Segment net income (loss)$(7,045)$802 $(209)$— $(6,452)
Supplemental Information:
Total assets as of June 30, 2025
$2,815,812 $2,932 $279,056 $(245,312)$2,852,488 
Capital expenditures$360 $— $— $— $360 
Depreciation expense (1)
$458 $16 $— $— $474 
(1) Included in net occupancy and furniture and equipment expense in the table above.
 Three Months Ended June 30, 2024
 Core BankingWMGHolding Company, and CFSInter-Segment EliminationsConsolidated Totals
Interest and dividend income$31,377 $— $11 $(2)$31,386 
Interest expense13,627 — — (2)13,625 
Net interest income17,750 — 11 — 17,761 
Provision for credit losses879 — — — 879 
Net interest income after provision for credit losses16,871 — 11 — 16,882 
Non-interest income2,495 2,860 244 (1)5,598 
Non-interest expenses:— 
  Compensation expense7,252 1,227 190 — 8,669 
  Net occupancy expense 1,390 55 1 (1)1,445 
  Furniture and equipment expense361 23 13 — 397 
  Data processing & software expense2,042 251 4 — 2,297 
  Other non-interest expenses3,065 181 165 — 3,411 
Total non-interest expense14,110 1,737 373 (1)16,219 
Income before income tax expense (benefit)5,256 1,123 (118)— 6,261 
Income tax expense (benefit)1,077 238 (41)— 1,274 
Segment net income (loss)$4,179 $885 $(77)$— $4,987 
Supplemental Information:
Total assets as of June 30, 2024
$2,748,945 $3,532 $202,472 $(199,136)$2,755,813 
Capital expenditures1,019 — — — 1,019 
Depreciation expense (1)
457 14 — — 471
(1) Included in net occupancy and furniture and equipment expense in the table above.
 Six Months Ended June 30, 2025
 Core BankingWMGHolding Company, and CFSInter-Segment EliminationsConsolidated Totals
Interest and dividend income$64,731 $— $3 $(2)$64,732 
Interest expense23,902 — 207 (2)24,107 
Net interest income40,829 — (204)— 40,625 
Provision for credit losses2,237 — — — 2,237 
Net interest income after provision for credit losses38,592 — (204)— 38,388 
Non-interest income(11,152)5,860 483 (7)(4,816)
Non-interest expenses:
Compensation expense15,427 2,733 436 — 18,596 
Net occupancy expense2,833 131 7 (7)2,964 
Furniture and equipment expense769 40 19 — 828 
Data processing & software expense4,461 621 15 — 5,097 
Other non-interest expenses6,605 356 250 — 7,211 
Total non-interest expense30,095 3,881 727 (7)34,696 
Income before income tax expense (benefit)(2,655)1,979 (448)— (1,124)
Income tax expense (benefit)(991)432 (136)— (695)
Segment net income (loss)$(1,664)$1,547 $(312)$— $(429)
Supplemental Information:
Total assets as of June 30, 2025
$2,815,812 $2,932 $279,056 $(245,312)$2,852,488 
Capital expenditures688 — — — 688 
Depreciation expense (1)
910 31 — — 941 
1 Included in net occupancy and furniture and equipment expense in the table above.
 Six Months Ended June 30, 2024
 Core BankingWMGHolding Company, and CFSInter-Segment EliminationsConsolidated Totals
Interest and dividend income62,588 — 21 (4)62,605 
Interest expense26,759 — — (4)26,755 
Net interest income35,829 — 21 — 35,850 
Provision for credit losses(1,161)— — — (1,161)
Net interest income after provision for credit losses36,990 — 21 — 37,011 
Non-interest income5,239 5,563 456 (3)11,255 
Non-interest expenses:
Compensation expense14,508 2,664 363 — 17,535 
Net occupancy expense2,820 118 3 (3)2,938 
Furniture and equipment expense737 42 16 — 795 
Data processing & software expense4,334 526 10 — 4,870 
Other non-interest expenses6,250 282 247 — 6,779 
Total non-interest expense28,649 3,632 639 (3)32,917 
Income before income tax expense (benefit)13,580 1,931 (162)— 15,349 
Income tax expense (benefit)2,948 420 (56)— 3,312 
Segment net income (loss)$10,632 $1,511 $(106)$— $12,037 
Supplemental Information:
Total assets as of June 30, 2024
2,748,945 3,532 202,472 (199,136)2,755,813 
Capital expenditures1,100 — — — 1,100 
Depreciation expense (1)
908 28 — — 936 
(1) Included in net occupancy and furniture and equipment expense in the table above.