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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2021
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. (the “Bank” or “CBNA”) 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 Community Investment Services, Inc., 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 NY, Inc. 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, 2020 filed with the SEC on March 1, 2021).

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 June 30, 2021

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Net interest income

​

$

92,033

​

$

65

​

$

7

​

$

0

​

$

92,105

Provision for credit losses

​

 

(4,338)

​

 

0

​

 

0

​

 

0

​

 

(4,338)

Noninterest revenues

​

 

16,357

​

 

27,994

​

 

16,816

​

 

(1,707)

​

 

59,460

Amortization of intangible assets

​

 

1,240

​

 

1,327

​

 

679

​

 

0

​

 

3,246

Acquisition expenses

​

 

4

​

 

0

​

 

0

​

 

0

​

 

4

Other operating expenses

​

 

65,158

​

 

14,846

​

 

11,996

​

 

(1,707)

​

 

90,293

Income before income taxes

​

$

46,326

​

$

11,886

​

$

4,148

​

$

0

​

$

62,360

Assets

​

$

14,588,075

​

$

235,141

​

$

78,770

​

$

(100,699)

​

$

14,801,287

Goodwill

​

$

689,867

​

$

83,275

​

$

21,750

​

$

0

​

$

794,892

Core deposit intangibles & Other intangibles

​

$

11,267

​

$

29,370

​

$

7,143

​

$

0

​

$

47,780

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 2020

​

 

​

​

 

​

​

 

​

​

 

​

​

 

​

Net interest income

​

$

91,645

​

$

246

​

$

60

​

$

0

​

$

91,951

Provision for credit losses

​

 

9,774

​

 

0

​

 

0

​

 

0

​

 

9,774

Noninterest revenues

​

 

14,991

​

 

24,504

​

 

14,817

​

 

(1,374)

​

 

52,938

Amortization of intangible assets

​

 

1,364

​

 

1,411

​

 

749

​

 

0

​

 

3,524

Acquisition expenses

​

 

3,372

​

 

0

​

 

0

​

 

0

​

 

3,372

Other operating expenses

​

 

59,130

​

 

14,948

​

 

11,303

​

 

(1,374)

​

 

84,007

Income before income taxes

​

$

32,996

​

$

8,391

​

$

2,825

​

$

0

​

$

44,212

Assets

​

$

13,272,929

​

$

216,122

​

$

78,022

​

$

(122,856)

​

$

13,444,217

Goodwill

​

$

689,128

​

$

83,275

​

$

20,312

​

$

0

​

$

792,715

Core deposit intangibles & Other intangibles

​

$

16,565

​

$

34,870

​

$

8,611

​

$

0

​

$

60,046

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​

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​

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​

​

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​

​

    

Employee

    

​

​

    

​

​

    

Consolidated

(000's omitted)

​

Banking

​

Benefit Services

​

All Other

​

Eliminations

​

Total

Six Months Ended June 30, 2021

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Net interest income

​

$

185,872

​

$

159

​

$

28

​

$

0

​

$

186,059

Provision for credit losses

​

 

(10,057)

​

 

0

​

 

0

​

 

0

​

 

(10,057)

Noninterest revenues

​

 

32,811

​

 

55,143

​

 

33,633

​

 

(3,596)

​

 

117,991

Amortization of intangible assets

​

 

2,564

​

 

2,681

​

 

1,352

​

 

0

​

 

6,597

Acquisition expenses

​

 

31

​

 

0

​

 

0

​

 

0

​

 

31

Other operating expenses

​

 

130,165

​

 

29,851

​

 

23,741

​

 

(3,596)

​

 

180,161

Income before income taxes

​

$

95,980

​

$

22,770

​

$

8,568

​

$

0

​

$

127,318

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 2020

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Net interest income

​

$

181,409

​

$

486

​

$

110

​

$

0

​

$

182,005

Provision for credit losses

​

 

15,368

​

 

0

​

 

0

​

 

0

​

 

15,368

Noninterest revenues

​

 

33,672

​

 

50,429

​

 

30,352

​

 

(2,893)

​

 

111,560

Amortization of intangible assets

​

 

2,781

​

 

2,905

​

 

1,505

​

 

0

​

 

7,191

Acquisition expenses

​

 

3,741

​

 

0

​

 

0

​

 

0

​

 

3,741

Other operating expenses

​

 

123,330

​

 

30,079

​

 

23,118

​

 

(2,893)

​

 

173,634

Income before income taxes

​

$

69,861

​

$

17,931

​

$

5,839

​

$

0

​

$

93,631

​