v3.26.3
Reportable Segments
 9 Months Ended
Sep. 30, 2026
Reportable Segments  
Reportable Segments

(9) Reportable Segments

 

The Company has two reportable segments as described below:

 

Banking Operations – This segment reflects the consolidated Bank, excluding CBRES. The primary source of revenue for this segment is net interest income.

 

CBRES – A Bank subsidiary that provides appraisal management services to community banks. The primary source of revenue for this segment is appraisal management fee income.

 

The Bank’s executive management team, which is comprised of the Bank’s Chief Executive Officer, Chief Financial Officer and executive vice presidents, is the chief operating decision maker for the Company. The Bank’s executive management team reviews actual net income versus budgeted net income for the Banking Operations and CBRES operating segments on a quarterly basis to assess segment performance.

 

The following table presents financial information for the reportable segments. Financial results by operating segment, including significant expense categories provided to the chief operating decision maker, are detailed below. Certain prior period amounts have been reclassified to conform to the current presentation. The information provided under the caption “Other” represents the parent company, which is not considered to be a reportable segment, is included to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP.

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Banking

 

 

 

 

 

 

 

 

 

 

 

 

Operations

 

 

CBRES

 

 

Other

 

 

Consolidated

 

As of and for the three months ended September 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$22,336

 

 

 

-

 

 

 

7

 

 

 

22,343

 

Interest expense

 

 

5,431

 

 

 

-

 

 

 

221

 

 

 

5,652

 

Net interest income

 

 

16,905

 

 

 

-

 

 

 

(214)

 

 

16,691

 

Provision for credit losses

 

 

250

 

 

 

-

 

 

 

-

 

 

 

250

 

Noninterest income

 

 

3,806

 

 

 

-

 

 

 

-

 

 

 

3,806

 

Appraisal management fee income

 

 

-

 

 

 

2,883

 

 

 

-

 

 

 

2,883

 

Salaries and employee benefits

 

 

6,781

 

 

 

218

 

 

 

100

 

 

 

7,099

 

Occupancy

 

 

2,441

 

 

 

1

 

 

 

-

 

 

 

2,442

 

Appraisal management fee expense

 

 

-

 

 

 

2,313

 

 

 

-

 

 

 

2,313

 

Noninterest expense

 

 

3,654

 

 

 

179

 

 

 

77

 

 

 

3,910

 

Income tax expense (benefit)

 

 

1,682

 

 

 

39

 

 

 

(82)

 

 

1,639

 

Net income (loss)

 

$5,903

 

 

 

133

 

 

 

(309)

 

 

5,727

 

Total assets

 

$1,755,918

 

 

 

5,670

 

 

 

602

 

 

 

1,762,190

 

As of and for the three months ended September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$21,398

 

 

 

-

 

 

 

7

 

 

 

21,405

 

Interest expense

 

 

6,042

 

 

 

-

 

 

 

244

 

 

 

6,286

 

Net interest income

 

 

15,356

 

 

 

-

 

 

 

(237)

 

 

15,119

 

Provision for credit losses

 

 

530

 

 

 

-

 

 

 

-

 

 

 

530

 

Noninterest income

 

 

3,526

 

 

 

-

 

 

 

-

 

 

 

3,526

 

Appraisal management fee income

 

 

-

 

 

 

3,601

 

 

 

-

 

 

 

3,601

 

Salaries and employee benefits

 

 

6,767

 

 

 

238

 

 

 

89

 

 

 

7,094

 

Occupancy

 

 

2,273

 

 

 

5

 

 

 

-

 

 

 

2,278

 

Appraisal management fee expense

 

 

-

 

 

 

2,858

 

 

 

-

 

 

 

2,858

 

Noninterest expense

 

 

4,400

 

 

 

217

 

 

 

77

 

 

 

4,694

 

Income tax expense (benefit)

 

 

1,120

 

 

 

64

 

 

 

(84)

 

 

1,100

 

Net income (loss)

 

$3,792

 

 

 

219

 

 

 

(319)

 

 

3,692

 

Total assets

 

$1,732,531

 

 

 

5,042

 

 

 

763

 

 

 

1,738,336

 

As of and for the nine months ended September 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$64,725

 

 

 

-

 

 

 

20

 

 

 

64,745

 

Interest expense

 

 

16,328

 

 

 

-

 

 

 

655

 

 

 

16,983

 

Net interest income

 

 

48,397

 

 

 

-

 

 

 

(635)

 

 

47,762

 

Provision for credit losses

 

 

1,103

 

 

 

-

 

 

 

-

 

 

 

1,103

 

Noninterest income

 

 

11,755

 

 

 

-

 

 

 

-

 

 

 

11,755

 

Appraisal management fee income

 

 

-

 

 

 

8,547

 

 

 

-

 

 

 

8,547

 

Salaries and employee benefits

 

 

20,562

 

 

 

625

 

 

 

285

 

 

 

21,472

 

Occupancy

 

 

7,287

 

 

 

2

 

 

 

-

 

 

 

7,289

 

Appraisal management fee expense

 

 

-

 

 

 

6,846

 

 

 

-

 

 

 

6,846

 

Noninterest expense

 

 

10,837

 

 

 

517

 

 

 

256

 

 

 

11,610

 

Income tax expense (benefit)

 

 

4,506

 

 

 

126

 

 

 

(247)

 

 

4,385

 

Net income (loss)

 

$15,857

 

 

 

431

 

 

 

(929)

 

 

15,359

 

Total assets

 

$1,755,918

 

 

 

5,670

 

 

 

602

 

 

 

1,762,190

 

As of and for the nine months ended September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$62,073

 

 

 

-

 

 

 

22

 

 

 

62,095

 

Interest expense

 

 

17,708

 

 

 

-

 

 

 

727

 

 

 

18,435

 

Net interest income

 

 

44,365

 

 

 

-

 

 

 

(705)

 

 

43,660

 

Provision for credit losses

 

 

585

 

 

 

-

 

 

 

-

 

 

 

585

 

Noninterest income

 

 

10,733

 

 

 

-

 

 

 

-

 

 

 

10,733

 

Appraisal management fee income

 

 

-

 

 

 

10,616

 

 

 

-

 

 

 

10,616

 

Salaries and employee benefits

 

 

20,128

 

 

 

638

 

 

 

284

 

 

 

21,050

 

Occupancy

 

 

6,348

 

 

 

16

 

 

 

-

 

 

 

6,364

 

Appraisal management fee expense

 

 

-

 

 

 

8,433

 

 

 

-

 

 

 

8,433

 

Noninterest expense

 

 

10,621

 

 

 

632

 

 

 

237

 

 

 

11,490

 

Income tax expense (benefit)

 

 

3,942

 

 

 

205

 

 

 

(257)

 

 

3,890

 

Net income (loss)

 

$13,474

 

 

 

692

 

 

 

(969)

 

 

13,197

 

Total assets

 

$1,732,531

 

 

 

5,042

 

 

 

763

 

 

 

1,738,336