v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's reportable segment is determined by the Chief Operating Decision Maker (“CODM”), who is the President and Chief Executive Officer. The CODM's decision is based upon information provided about the Company's products and services offered, primarily banking operations, originating loans and offering a variety of deposit products. The segment is also distinguished by the level of information provided by the CODM, who uses such information to review performance of various components of the business (such as branches) which are then aggregated if operating performance, products and services, and customers are similar. The CODM will evaluate the performance of the Company's business components such as by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Company's segment and in the determination of allocating resources. The CODM uses the revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets. The CODM uses consolidated net income to benchmark the Company against its competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans and investments provide the revenues in the banking operations. Interest expense, provisions for credit losses, and payroll provide the significant expenses in the banking operations. The Company's operations are all domestic.
Segment performance is evaluated using consolidated net income. Information reported internally for performance assessment by the CODM follows, inclusive of reconciliations of significant segment totals to the consolidated financial statements.
Banking Segment
Three Months Ended March 31,
 20262025
(in thousands)
Interest income$62,908 $60,092 
Reconciliation of revenue
Other revenues - non-interest income3,412 3,022 
Total consolidated revenues66,320 63,114 
Less:
Interest expense25,945 28,301 
Segment net interest income and non-interest income40,375 34,813 
Less:
Compensation and employee benefits12,673 11,775 
Provision for credit losses247 2,582 
Other segment items (1) (2) (3)
10,586 9,660 
Income tax expense5,026 2,920 
Segment expenses 28,532 26,937 
Segment net income$11,843 $7,876 
Segment assets$5,735,202 $5,710,000 
Total consolidated assets$5,735,202 $5,710,000 
(1) Other segment items include occupancy, furniture and equipment, data processing, professional fees, advertising, FDIC insurance and other miscellaneous expenses.
(2) Includes depreciation expense of $743,000 and $812,000 for the three months ended March 31, 2026, and March 31, 2025, respectively.
(3) Includes amortization expense of $2.0 million and $2.5 million for the three months ended March 31, 2026, and March 31, 2025, respectively.