v3.26.1
Note 21 - Segment Information
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Segment Reporting [Text Block]

NOTE 21 - SEGMENT INFORMATION

 

Our reportable segments are determined by the Chief Executive Officer and Chief Financial Officer, who are each designated as a chief operating decision maker ("CODM"), based upon information provided by our products and services offered, primarily banking operations. The segments are 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 aggregated if operating performance, products/services, and customers are similar. The CODM will evaluate the financial performance of our business components such as by evaluating revenue streams, significant expenses, and budget to actual results in assessing our segment and in the determination of allocating resources. The CODM uses consolidated net income, total assets, total loans, and total deposits to benchmark us against our competitors. The benchmarking analysis coupled with monitoring of budget to actual results are used in assessment performance and in establishing compensation. Loans, investments, and deposits provide the revenues in the banking operation. Interest expense, provisions for credit losses and payroll provide the significant expenses in the banking operation. All operations are domestic.

 

Segment performance is evaluated using consolidated net income, total assets, total loans, and total deposits. The following table presents information reported internally for performance assessment by the CODM for the dates indicated: 

 

  

For the Three Months Ended

  

For the Six Months Ended June 30,

 
  

June 30, 2026

  

March 31, 2026

  

June 30, 2025

  

2026

  

2025

 

Banking Segment

 

(dollars in thousands)

 

Interest and dividend income

 $57,159  $56,803  $54,205  $113,962  $106,541 
                     

Reconciliation of revenue

                    

Other revenues

  3,018   4,251   8,478   7,269   10,773 

Total consolidated revenues

 $60,177  $61,054  $62,683  $121,231  $117,314 
                     

Less:

                    

Interest expense

  27,073   26,300   26,871   53,373   53,044 

Segment net interest income and noninterest income

 $33,104  $34,754  $35,812  $67,858  $64,270 

Less:

                    

(Reversal of)/provision for credit losses

  —   (200)  2,387   (200)  9,133 

Salaries and benefits expense

  11,045   11,261   11,080   22,306   21,723 

Other segment items (1)

  7,977   7,997   9,413   15,974   17,292 

Income tax expense

  3,942   4,396   3,599   8,338   4,499 

Consolidated net income

 $10,140  $11,300  $9,333  $21,440  $11,623 
                     

Total Assets

 $4,275,002  $4,194,312  $4,090,040  $4,275,002  $4,090,040 

Total Loans

 $3,309,459  $3,325,232  $3,234,695  $3,309,459  $3,234,695 

Total Deposits

 $3,390,641  $3,339,884  $3,188,231  $3,390,641  $3,188,231 

 

(1) Other segment items include expenses for occupancy and equipment, data processing, legal and professional, office, marketing and business promotion, insurance and regulatory assessments, core deposit premium amortization and other expenses.