v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting

(15.) SEGMENT REPORTING

The Company’s Executive Management Team, which consists of the Chief Executive Officer, Chief Financial Officer, Chief Legal Officer, Chief Commercial Banking Officer, Chief Consumer Banking Officer, Chief Risk Officer, Chief Human Resources Officer, and Chief Marketing Officer, has been designated as its Chief Operating Decision Maker (“CODM”). The CODM determined the Company has one reportable segment, Banking, based upon information provided about the Company’s products and services offered. The segment is also distinguished by the level of information provided to the CODM, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products and services, and customers are similar. The CODM evaluates the financial performance of the Company’s business components by evaluating revenue streams, significant expenses, and budget to actual results when assessing the Company’s segment and in the determination of allocating resources. The CODM has determined that net income is the reportable measure of segment profit or loss that is regularly reviewed and used to allocate resources and assess performance. Loans and investments provide the interest income in the banking operation, while deposits and borrowings account for the interest expense. The CODM also considers provisions for credit losses a significant expense in the banking operation. All operations are domestic.

Segment performance is evaluated using net income. Information reported internally for performance assessment by the CODM follows, inclusive of reconciliations of significant segment totals to the consolidated financial statements.

(15.) SEGMENT REPORTING (Continued)

The following table presents balance sheet information of the Company’s segment as of periods indicated (in thousands).

 

 

June 30, 2026

 

 

December 31, 2025

 

Segment assets

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

48,536

 

Total segment assets

 

$

6,294,915

 

 

$

6,235,223

 

Reconciliation of consolidated total assets:

 

 

 

 

 

 

Goodwill - Courier Capital

 

 

9,585

 

 

 

9,585

 

Intangible assets, net - Courier Capital

 

 

2,028

 

 

 

2,222

 

Other assets

 

 

28,424

 

 

 

27,110

 

Consolidated total assets

 

$

6,334,952

 

 

$

6,274,140

 

 

The following table presents information regarding the Company’s segment for the periods indicated (in thousands).

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Interest income

 

$

83,076

 

 

$

82,867

 

 

$

164,639

 

 

$

163,918

 

Interest expense

 

 

28,341

 

 

 

32,694

 

 

 

56,318

 

 

 

65,820

 

Segment net interest income

 

 

54,735

 

 

 

50,173

 

 

 

108,321

 

 

 

98,098

 

Noninterest income

 

 

7,800

 

 

 

7,868

 

 

 

15,767

 

 

 

15,638

 

Segment noninterest expense

 

 

32,121

 

 

 

32,505

 

 

 

64,472

 

 

 

62,980

 

Income before provision for credit losses and income taxes

 

 

30,414

 

 

 

25,536

 

 

 

59,616

 

 

 

50,756

 

Provision for credit losses

 

 

(3,108

)

 

 

(2,562

)

 

 

(5,347

)

 

 

(5,490

)

Income before income taxes

 

 

27,306

 

 

 

22,974

 

 

 

54,269

 

 

 

45,266

 

Income tax expense

 

 

(4,917

)

 

 

(4,289

)

 

 

(9,688

)

 

 

(8,329

)

Segment net income

 

$

22,389

 

 

$

18,685

 

 

$

44,581

 

 

$

36,937

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of consolidated net interest income:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (1)

 

 

1,374

 

 

 

1,051

 

 

 

2,967

 

 

 

2,112

 

Consolidated net interest income

 

 

53,361

 

 

 

49,122

 

 

 

105,354

 

 

 

95,986

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of consolidated net income:

 

 

 

 

 

 

 

 

 

 

 

 

Investment advisory income (2)

 

 

3,232

 

 

 

2,844

 

 

 

6,240

 

 

 

5,549

 

Other fees and income

 

 

(78

)

 

 

(95

)

 

 

(380

)

 

 

(197

)

Other noninterest expense

 

 

(3,484

)

 

 

(3,177

)

 

 

(6,728

)

 

 

(6,387

)

Income before income tax benefit

 

 

20,685

 

 

 

17,206

 

 

 

40,746

 

 

 

33,790

 

Income tax benefit

 

 

499

 

 

 

326

 

 

 

1,423

 

 

 

620

 

Consolidated net income

 

$

21,184

 

 

$

17,532

 

 

$

42,169

 

 

$

34,410

 

(1) Interest expense represents interest on subordinated notes, held at the Parent.

(2) Investment advisory income primarily represents income from our subsidiary Courier Capital.