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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2017
SEGMENT INFORMATION [Abstract] |
SEGMENT INFORMATION | NOTE M: SEGMENT INFORMATION Operating segments are components of an enterprise, which are evaluated regularly by the “chief operating decision maker” in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker is the President and Chief Executive Officer of the Company. The Company has identified Banking, Employee Benefit Services and All Other as its reportable operating business segments. Community Bank, N.A. (the “Bank” or “CBNA”) operates the Banking segment that provides full-service banking to consumers, businesses, and governmental units in Northern, Central, and Western New York as well as Northeastern Pennsylvania, Vermont and Western Massachusetts. Employee Benefit Services, which includes the operating subsidiaries Benefit Plans Administrative Services, LLC, BPAS Actuarial and Pension Services, LLC (formerly Harbridge Consulting Group, LLC), BPAS Trust Company of Puerto Rico, NRS, GTC, and Hand Benefits & Trust Company, provides employee benefit trust, collective investment fund, retirement plan administration, actuarial, VEBA/HRA, and health and welfare consulting services. The All Other segment is comprised of: (a) wealth management services including trust services provided by the personal trust unit within the Bank, broker-dealer and investment advisory services provided by Community Investment Services, Inc. (“CISI”), and The Carta Group, Inc., as well as asset management provided by Nottingham Advisors, Inc., and (b) full-service insurance, risk management and employee benefit services provided by OneGroup. The accounting policies used in the disclosure of business segments are the same as those described in the summary of significant accounting policies (See Note A, Summary of Significant Accounting Policies of the most recent Form 10-K for the year ended December 31, 2016 filed with the SEC on March 1, 2017). Information about reportable segments and reconciliation of the information to the consolidated financial statements follows:
(000's omitted) |  | Banking |  |  | Employee Benefit Services |  |  | All Other |  |  | Eliminations |  |  | Consolidated Total |
Three Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | $ | 84,227 |  |  | $ | 104 |  |  | $ | 64 |  |  | $ | 0 |  |  | $ | 84,395 |
Provision for loan losses |  |  | 2,314 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2,314 |
Noninterest revenues |  |  | 20,120 |  |  |  | 21,207 |  |  |  | 12,298 |  |  |  | (684 | ) |  |  | 52,941 |
Amortization of intangible assets |  |  | 1,796 |  |  |  | 2,323 |  |  |  | 830 |  |  |  | 0 |  |  |  | 4,949 |
Acquisition expenses |  |  | 534 |  |  |  | 11 |  |  |  | 35 |  |  |  | 0 |  |  |  | 580 |
Other operating expenses |  |  | 56,926 |  |  |  | 12,788 |  |  |  | 9,217 |  |  |  | (684 | ) |  |  | 78,247 |
Income before income taxes |  | $ | 42,777 |  |  | $ | 6,189 |  |  | $ | 2,280 |  |  | $ | 0 |  |  | $ | 51,246 |
Assets |  | $ | 10,613,065 |  |  | $ | 226,812 |  |  | $ | 77,802 |  |  | $ | (67,461 | ) |  | $ | 10,850,218 |
Goodwill |  | $ | 629,153 |  |  | $ | 84,448 |  |  | $ | 17,904 |  |  | $ | 0 |  |  | $ | 731,505 |
Three Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | $ | 68,375 |  |  | $ | 39 |  |  | $ | 49 |  |  | $ | 0 |  |  | $ | 68,463 |
Provision for loan losses |  |  | 1,790 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,790 |
Noninterest revenues |  |  | 17,756 |  |  |  | 11,680 |  |  |  | 11,139 |  |  |  | (623 | ) |  |  | 39,952 |
Amortization of intangible assets |  |  | 665 |  |  |  | 96 |  |  |  | 598 |  |  |  | 0 |  |  |  | 1,359 |
Acquisition expenses |  |  | 2 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 2 |
Other operating expenses |  |  | 47,736 |  |  |  | 9,020 |  |  |  | 8,732 |  |  |  | (623 | ) |  |  | 64,865 |
Income before income taxes |  | $ | 35,938 |  |  | $ | 2,603 |  |  | $ | 1,858 |  |  | $ | 0 |  |  | $ | 40,399 |
Assets |  | $ | 8,658,308 |  |  | $ | 36,706 |  |  | $ | 72,147 |  |  | $ | (39,415 | ) |  | $ | 8,727,746 |
Goodwill |  | $ | 440,870 |  |  | $ | 8,019 |  |  | $ | 16,253 |  |  | $ | 0 |  |  | $ | 465,142 |
(000's omitted) |  | Banking |  |  | Employee Benefit Services |  |  | All Other |  |  | Eliminations |  |  | Consolidated Total |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | $ | 229,233 |  |  | $ | 276 |  |  | $ | 189 |  |  | $ | 0 |  |  | $ | 229,698 |
Provision for loan losses |  |  | 5,603 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5,603 |
Noninterest revenues |  |  | 54,049 |  |  |  | 59,961 |  |  |  | 36,510 |  |  |  | (2,035 | ) |  |  | 148,485 |
Amortization of intangible assets |  |  | 3,520 |  |  |  | 6,256 |  |  |  | 2,204 |  |  |  | 0 |  |  |  | 11,980 |
Acquisition expenses |  |  | 23,784 |  |  |  | 1,190 |  |  |  | 218 |  |  |  | 0 |  |  |  | 25,192 |
Other operating expenses |  |  | 160,311 |  |  |  | 37,225 |  |  |  | 27,557 |  |  |  | (2,035 | ) |  |  | 223,058 |
Income before income taxes |  | $ | 90,064 |  |  | $ | 15,566 |  |  | $ | 6,720 |  |  | $ | 0 |  |  | $ | 112,350 |
Nine Months Ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income |  | $ | 203,394 |  |  | $ | 117 |  |  | $ | 139 |  |  | $ | 0 |  |  | $ | 203,650 |
Provision for loan losses |  |  | 5,436 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 5,436 |
Noninterest revenues |  |  | 49,663 |  |  |  | 36,137 |  |  |  | 32,989 |  |  |  | (1,784 | ) |  |  | 117,005 |
Amortization of intangible assets |  |  | 2,075 |  |  |  | 326 |  |  |  | 1,803 |  |  |  | 0 |  |  |  | 4,204 |
Acquisition expenses |  |  | 101 |  |  |  | 0 |  |  |  | 241 |  |  |  | 0 |  |  |  | 342 |
Other operating expenses |  |  | 143,781 |  |  |  | 27,899 |  |  |  | 25,809 |  |  |  | (1,784 | ) |  |  | 195,705 |
Income before income taxes |  | $ | 101,664 |  |  | $ | 8,029 |  |  | $ | 5,275 |  |  | $ | 0 |  |  | $ | 114,968 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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