Quarterly report [Sections 13 or 15(d)]

Segment Reporting

v3.26.3
Segment Reporting
 9 Months Ended
Sep. 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 September 30,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Net interest income

 

$

67,570

 

 

$

61,079

 

Noninterest income

 

 

9,030

 

 

 

9,880

 

Segment revenues

 

 

76,600

 

 

 

70,959

 

Other revenues

 

 

—

 

 

 

—

 

Total consolidated revenues

 

 

76,600

 

 

 

70,959

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

Credit loss expense

 

 

4,530

 

 

 

2,145

 

Noninterest expenses

 

 

39,849

 

 

 

37,357

 

Income tax expense

 

 

8,538

 

 

 

9,396

 

Segment net income

 

 

23,683

 

 

 

22,061

 

 

 

 

 

 

 

 

Reconciliation of profit:

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net income

 

$

23,683

 

 

$

22,061

 

 

 

 

 

Banking Segment

 

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Net interest income

 

$

194,630

 

 

$

173,310

 

Noninterest income

 

 

25,917

 

 

 

25,676

 

Segment revenues

 

 

220,547

 

 

 

198,986

 

Other revenues

 

 

—

 

 

 

—

 

Total consolidated revenues

 

 

220,547

 

 

 

198,986

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

Credit loss expense

 

 

8,608

 

 

 

12,496

 

Noninterest expenses

 

 

117,256

 

 

 

108,689

 

Income tax expense

 

 

24,938

 

 

 

22,951

 

Segment net income

 

 

69,745

 

 

 

54,850

 

 

 

 

 

 

 

 

Reconciliation of profit:

 

 

 

 

 

 

Adjustments and reconciling items

 

 

—

 

 

 

—

 

Consolidated net income

 

$

69,745

 

 

$

54,850

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(in thousands)

 

Segment assets

 

$

8,043,788

 

 

$

7,869,185

 

Other assets

 

 

—

 

 

 

—

 

Consolidated assets

 

$

8,043,788

 

 

$

7,869,185