v3.25.2
Segment Information
6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 14. Segment Information

The Company, through the Bank, provides a broad range of financial services to individuals and companies through its offices in East and Middle Tennessee, Alabama and Florida. These services include, but are not limited to, primary deposit products are interest-bearing demand deposits, savings and money market deposits, and time deposits. Its primary lending products are commercial, residential, and consumer loans. The Company’s operations are managed, and financial performance is evaluated on an organization-wide basis. Accordingly, the Company’s banking and finance operations are not considered by management to constitute more than one reportable operating segment. This single segment is the General Banking Unit.

The Company’s chief operating decision maker (“CODM”) is the Executive Committee. The CODM includes the senior executive management team including the Chief Executive Officer, Chief Financial Officer, Chief Credit Officer, Chief Accounting Officer, Chief People Officer, Chief Risk Officer, and Chief Banking Officer.

The CODM assesses the performance of the General Banking Unit using a variety of figures, metrics and key performance indicators. However, the CODM primarily utilizes net income and net interest income to make business decisions. The CODM monitors these profitability measures at each meeting, and is regularly featured in various investor presentations, earnings releases, and other internal management reports. These performance and profitability measures influence business decisions and the allocation of resources within the General Banking Unit.

The table below provides information about the General Banking Unit. The most significant expenses to the General Banking Unit are deposit and other borrowing interest expense as well as employee compensation (in thousands):

Banking Segment

Three Months Ended June 30, 

Six Months Ended June 30, 

2025

2024

2025

2024

Interest income

$

69,453

$

61,285

$

135,830

$

121,067

Interest expense

29,110

28,471

57,248

56,532

Net interest income

40,343

32,814

78,582

64,535

Provision for credit losses

2,411

883

3,391

443

Net interest income after provision for credit losses

37,932

31,931

75,191

64,092

Noninterest income:

Service charges on deposit accounts

1,766

1,692

3,502

3,304

Loss on sale of securities

(4)

(4)

Mortgage banking

633

348

1,126

628

Investment services

1,440

1,302

3,209

2,682

Insurance commissions

1,554

1,284

2,967

2,387

Interchange and debit card transaction fees, net

1,342

1,343

2,562

2,596

Other

2,167

1,635

4,133

4,387

Total noninterest income

8,898

7,604

17,495

15,984

Noninterest expense:

Salaries and employee benefits

19,602

17,261

38,836

33,900

Occupancy and equipment

3,432

3,324

6,829

6,720

FDIC insurance

992

825

1,952

1,740

Other real estate and loan related expense

757

538

1,415

1,123

Advertising and marketing

390

295

772

597

Data processing and technology

2,651

2,452

5,309

4,916

Professional services

1,153

1,064

2,521

1,989

Amortization of intangibles

566

608

1,135

1,220

Other

3,026

2,834

6,097

5,549

Total noninterest expense

32,569

29,201

64,866

57,754

Income before income tax expense

14,261

10,334

27,820

22,322

Income tax expense

2,556

2,331

4,861

4,962

Net income

$

11,705

$

8,003

$

22,959

$

17,360