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

Note 16 — Segment Reporting

The Company has one reportable segment, Banking, as determined by the Chief Financial Officer, who is designated the chief operating decision maker, based upon information provided about the Company’s products and services offered, which are primarily banking operations. The Banking segment is also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business. The chief operating decision maker uses net interest income, net interest margin, non-interest income, non-interest expense, credit loss expense, and net income to assess performance and in the determination of allocating resources. These metrics, coupled with monitoring of budget to actual results, are used in assessing performance and in establishing compensation. Loans, investments, deposits, and non-interest revenue sources provide the revenues in our banking operations. Interest expense, provisions for credit losses, and salaries and benefits provide the significant expenses in our banking operations.

The following table presents information reported internally for performance assessment by the chief operating decision maker for the following periods:

 

 

 

Banking Segment

 

 

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Net interest income

 

$

63,857

 

 

$

57,139

 

Noninterest income

 

 

8,348

 

 

 

8,071

 

Segment revenues

 

 

72,205

 

 

 

65,210

 

Other revenues

 

 

—

 

 

 

—

 

Total consolidated revenues

 

 

72,205

 

 

 

65,210

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

Credit loss expense

 

 

1,186

 

 

 

7,631

 

Noninterest expenses

 

 

39,039

 

 

 

36,347

 

Income tax expense

 

 

8,475

 

 

 

6,115

 

Segment net income

 

 

23,505

 

 

 

15,117

 

 

 

 

 

 

 

 

Reconciliation of profit:

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net income

 

$

23,505

 

 

$

15,117

 

 

 

 

 

Banking Segment

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Net interest income

 

$

127,060

 

 

$

112,231

 

Noninterest income

 

 

16,887

 

 

 

15,796

 

Segment revenues

 

 

143,947

 

 

 

128,027

 

Other revenues

 

 

—

 

 

 

—

 

Total consolidated revenues

 

 

143,947

 

 

 

128,027

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

Credit loss expense

 

 

4,078

 

 

 

10,352

 

Noninterest expenses

 

 

77,407

 

 

 

71,330

 

Income tax expense

 

 

16,400

 

 

 

13,556

 

Segment net income

 

 

46,062

 

 

 

32,789

 

 

 

 

 

 

 

 

Reconciliation of profit:

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net income

 

$

46,062

 

 

$

32,789

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Segment assets

 

$

8,001,473

 

 

$

7,869,185

 

Other assets

 

 

—

 

 

 

—

 

Consolidated assets

 

$

8,001,473

 

 

$

7,869,185