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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2020
SEGMENT INFORMATION  
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. operates the Banking segment that provides full-service banking to consumers, businesses, and governmental units in Upstate 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, BPAS Trust Company of Puerto Rico, Northeast Retirement Services, LLC (“NRS”), Global Trust Company, Inc. (“GTC”), and Hand Benefits & Trust Company, provides employee benefit trust, collective investment fund, retirement plan administration, fund administration, transfer agency, 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 CISI, The Carta Group, Inc. and OneGroup Wealth Partners, 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, 2019 filed with the SEC on March 2, 2020).

Information about reportable segments and reconciliation of the information to the consolidated financial statements follows:

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​

​

​

​

​

​

Employee

​

​

​

​

​

​

​

Consolidated

(000's omitted) 

    

Banking

    

Benefit Services

    

All Other

    

Eliminations

    

Total

Three Months Ended September 30, 2020

 

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​

  

 

​

  

 

​

  

 

​

  

Net interest income

​

$

92,642

​

$

256

​

$

67

​

$

0

​

$

92,965

Provision for credit losses

​

 

1,945

​

 

0

​

 

0

​

 

0

​

 

1,945

Noninterest revenues

​

 

19,756

​

 

25,651

​

 

15,706

​

 

(1,454)

​

 

59,659

Amortization of intangible assets

​

 

1,379

​

 

1,409

​

 

793

​

 

0

​

 

3,581

Acquisition expenses

​

 

796

​

 

0

​

 

0

​

 

0

​

 

796

Other operating expenses

​

 

67,193

​

 

15,078

​

 

11,772

​

 

(1,454)

​

 

92,589

Income before income taxes

​

$

41,085

​

$

9,420

​

$

3,208

​

$

0

​

$

53,713

Assets

​

$

13,674,995

​

$

210,679

​

$

80,528

​

$

(120,877)

​

$

13,845,325

Goodwill

​

$

690,162

​

$

83,275

​

$

20,312

​

$

0

​

$

793,749

Core deposit intangibles & Other intangibles

​

$

15,186

​

$

33,461

​

$

7,818

​

$

0

​

$

56,465

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​

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​

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​

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​

​

​

Three Months Ended September 30, 2019

​

 

​

​

 

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​

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​

​

 

​

Net interest income

​

$

91,018

​

$

209

​

$

49

​

$

0

​

$

91,276

Provision for credit losses

​

 

1,751

​

 

0

​

 

0

​

 

0

​

 

1,751

Noninterest revenues

​

 

17,790

​

 

24,830

​

 

15,143

​

 

(669)

​

 

57,094

Amortization of intangible assets

​

 

1,439

​

 

1,667

​

 

854

​

 

0

​

 

3,960

Acquisition expenses

​

 

6,061

​

 

0

​

 

0

​

 

0

​

 

6,061

Other operating expenses

​

 

61,839

​

 

14,721

​

 

11,017

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(669)

​

 

86,908

Income before income taxes

​

$

37,718

​

$

8,651

​

$

3,321

​

$

0

​

$

49,690

Assets

​

$

11,398,191

​

$

201,442

​

$

74,169

​

$

(76,505)

​

$

11,597,297

Goodwill

​

$

670,023

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$

83,275

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$

20,312

​

$

0

​

$

773,610

Core deposit intangibles & Other intangibles

​

$

17,872

​

$

39,440

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$

9,763

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$

0

​

$

67,075

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​

​

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​

​

Employee

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​

​

​

​

​

​

Consolidated

(000's omitted) 

    

Banking

    

Benefit Services

    

All Other

    

Eliminations

    

Total

Nine Months Ended September 30, 2020

    

​

  

    

​

  

    

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​

  

Net interest income

​

$

274,051

​

$

742

​

$

177

​

$

0

​

$

274,970

Provision for credit losses

​

 

17,313

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0

​

 

0

​

 

0

​

 

17,313

Noninterest revenues

​

 

53,428

​

 

76,080

​

 

46,058

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(4,347)

​

 

171,219

Amortization of intangible assets

​

 

4,160

​

 

4,314

​

 

2,298

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0

​

 

10,772

Acquisition expenses

​

 

4,537

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0

​

 

0

​

 

0

​

 

4,537

Other operating expenses

​

 

190,523

​

 

45,157

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34,890

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(4,347)

​

 

266,223

Income before income taxes

​

$

110,946

​

$

27,351

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$

9,047

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$

0

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$

147,344

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​

​

​

​

​

​

Nine Months Ended September 30, 2019

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​

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Net interest income

​

$

265,860

​

$

448

​

$

127

​

$

0

​

$

266,435

Provision for credit losses

​

 

5,573

​

 

0

​

 

0

​

 

0

​

 

5,573

Noninterest revenues

​

 

57,059

​

 

73,919

​

 

44,749

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(2,231)

​

 

173,496

Amortization of intangible assets

​

 

4,297

​

 

5,105

​

 

2,592

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0

​

 

11,994

Acquisition expenses

​

 

7,789

​

 

0

​

 

0

​

 

0

​

 

7,789

Other operating expenses

​

 

182,186

​

 

43,985

​

 

33,034

​

 

(2,231)

​

 

256,974

Income before income taxes

​

$

123,074

​

$

25,277

​

$

9,250

​

$

0

​

$

157,601

​