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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2023
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE L: 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 of Benefit Plans Administrative Services, LLC, BPAS Actuarial and Pension Services, LLC, BPAS Trust Company of Puerto Rico, FBD, 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. 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, 2022 filed with the SEC on March 1, 2023). ​ Information about reportable segments and reconciliation of the information to the consolidated financial statements follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Employee | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Consolidated
(000’s omitted) |  | Banking |  | Benefit Services |  | All Other |  | Eliminations |  | Total
Three Months Ended September 30, 2023 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net interest income | ​ | $ | 107,169 | ​ | $ | 486 | ​ | $ | 131 | ​ | $ | 0 | ​ | $ | 107,786
Provision for credit losses | ​ |  | 2,878 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 2,878
Noninterest revenues | ​ |  | 18,448 | ​ |  | 30,777 | ​ |  | 20,438 | ​ |  | (2,077) | ​ |  | 67,586
Amortization of intangible assets | ​ |  | 1,004 | ​ |  | 1,596 | ​ |  | 976 | ​ |  | 0 | ​ |  | 3,576
Acquisition expenses | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0
Acquisition-related contingent consideration adjustment | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 80 | ​ | ​ | 0 | ​ | ​ | 80
Other operating expenses | ​ |  | 78,884 | ​ |  | 18,996 | ​ |  | 17,045 | ​ |  | (2,077) | ​ |  | 112,848
Income before income taxes | ​ | $ | 42,851 | ​ | $ | 10,671 | ​ | $ | 2,468 | ​ | $ | 0 | ​ | $ | 55,990
Assets | ​ | $ | 15,160,821 | ​ | $ | 237,310 | ​ | $ | 103,721 | ​ | $ | (115,530) | ​ | $ | 15,386,322
Goodwill | ​ | $ | 732,598 | ​ | $ | 85,384 | ​ | $ | 27,414 | ​ | $ | 0 | ​ | $ | 845,396
Core deposit intangibles & Other intangibles | ​ | $ | 10,110 | ​ | $ | 28,258 | ​ | $ | 17,570 | ​ | $ | 0 | ​ | $ | 55,938
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended September 30, 2022 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Net interest income | ​ | $ | 110,311 | ​ | $ | 75 | ​ | $ | 8 | ​ | $ | 0 | ​ | $ | 110,394
Provision for credit losses | ​ |  | 5,061 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 5,061
Noninterest revenues | ​ |  | 19,427 | ​ |  | 28,451 | ​ |  | 19,210 | ​ |  | (1,839) | ​ |  | 65,249
Amortization of intangible assets | ​ |  | 1,266 | ​ |  | 1,633 | ​ |  | 938 | ​ |  | 0 | ​ |  | 3,837
Acquisition expenses | ​ |  | 409 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 409
Other operating expenses | ​ |  | 73,554 | ​ |  | 17,711 | ​ |  | 14,513 | ​ |  | (1,839) | ​ |  | 103,939
Income before income taxes | ​ | $ | 49,448 | ​ | $ | 9,182 | ​ | $ | 3,767 | ​ | $ | 0 | ​ | $ | 62,397
Assets | ​ | $ | 15,373,021 | ​ | $ | 250,784 | ​ | $ | 102,883 | ​ | $ | (132,141) | ​ | $ | 15,594,547
Goodwill | ​ | $ | 735,680 | ​ | $ | 85,381 | ​ | $ | 23,923 | ​ | $ | 0 | ​ | $ | 844,984
Core deposit intangibles & Other intangibles | ​ | $ | 13,550 | ​ | $ | 35,045 | ​ | $ | 15,645 | ​ | $ | 0 | ​ | $ | 64,240
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Employee | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Consolidated
(000's omitted) |  | Banking |  | Benefit Services |  | All Other |  | Eliminations |  | Total
Nine Months Ended September 30, 2023 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net interest income | ​ | $ | 326,621 | ​ | $ | 1,129 | ​ | $ | 345 | ​ | $ | 0 | ​ | $ | 328,095
Provision for credit losses | ​ |  | 7,130 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 7,130
Loss on sales of investment securities | ​ |  | (52,329) | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | (52,329)
Gain on debt extinguishment | ​ | ​ | 242 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | 242
Other noninterest revenues | ​ | ​ | 54,397 | ​ | ​ | 90,416 | ​ | ​ | 60,764 | ​ | ​ | (6,425) | ​ | ​ | 199,152
Amortization of intangible assets | ​ |  | 3,370 | ​ |  | 4,860 | ​ |  | 2,718 | ​ |  | 0 | ​ |  | 10,948
Acquisition expenses | ​ |  | 16 | ​ |  | 0 | ​ |  | 40 | ​ |  | 0 | ​ |  | 56
Acquisition-related contingent consideration adjustment | ​ | ​ | 0 | ​ | ​ | (100) | ​ | ​ | 1,180 | ​ | ​ | 0 | ​ | ​ | 1,080
Other operating expenses | ​ |  | 232,647 | ​ |  | 56,709 | ​ |  | 48,579 | ​ |  | (6,425) | ​ |  | 331,510
Income before income taxes | ​ | $ | 85,768 | ​ | $ | 30,076 | ​ | $ | 8,592 | ​ | $ | 0 | ​ | $ | 124,436
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Nine Months Ended September 30, 2022 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Net interest income | ​ | $ | 308,177 | ​ | $ | 210 | ​ | $ | 20 | ​ | $ | 0 | ​ | $ | 308,407
Provision for credit losses | ​ |  | 12,005 | ​ |  | 0 | ​ |  | 0 | ​ |  | 0 | ​ |  | 12,005
Noninterest revenues | ​ |  | 55,634 | ​ |  | 88,093 | ​ |  | 57,065 | ​ |  | (5,773) | ​ |  | 195,019
Amortization of intangible assets | ​ |  | 3,506 | ​ |  | 4,974 | ​ |  | 2,940 | ​ |  | 0 | ​ |  | 11,420
Acquisition expenses | ​ |  | 4,665 | ​ |  | 3 | ​ |  | 0 | ​ |  | 0 | ​ |  | 4,668
Acquisition-related contingent consideration adjustment | ​ | ​ | 0 | ​ | ​ | (100) | ​ | ​ | 500 | ​ | ​ | 0 | ​ | ​ | 400
Other operating expenses | ​ |  | 212,616 | ​ |  | 53,026 | ​ |  | 42,059 | ​ |  | (5,773) | ​ |  | 301,928
Income before income taxes | ​ | $ | 131,019 | ​ | $ | 30,400 | ​ | $ | 11,586 | ​ | $ | 0 | ​ | $ | 173,005
​

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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