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Note 7 - Business Segment Information | 6 Months Ended
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Jun. 30, 2018
Notes to Financial Statements |
BUSINESS SEGMENT INFORMATION | NOTE 7 – BUSINESS SEGMENT INFORMATION Selected financial and descriptive information is required to be disclosed for reportable operating segments, applying a “management perspective” as the basis for identifying reportable segments. The management perspective is determined by the view that management takes of the segments within the Company when making operating decisions, allocating resources, and measuring performance. The segments of the Company have been defined by the structure of the Company's internal organization, focusing on the financial information that the Company's operating decision-makers routinely use to make decisions about operating matters. The Company's primary segment, Commercial Banking, is geographically divided by markets into the secondary segments comprised of the five subsidiary banks wholly owned by the Company: QCBT, CRBT, CSB, RB&T and SFC Bank. Each of these secondary segments offers similar products and services, but is managed separately due to different pricing, product demand, and consumer markets. Each offers commercial, consumer, and mortgage loans and deposit services. The Company's Wealth Management segment represents the trust and asset management and investment management and advisory services offered at the Company's five subsidiary banks in aggregate. This segment generates income primarily from fees charged based on assets under administration for corporate and personal trusts, custodial services, and investments managed. No assets of the subsidiary banks have been allocated to the Wealth Management segment. The Company's All Other segment includes the operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds. This segment includes the corporate operations of the parent company. Selected financial information on the Company's business segments is presented as follows as of and for the three and six months ended June 30, 2018 and 2017.
|  | Commercial Banking |  | Wealth |  |  |  |  | Intercompany |  | Consolidated
|  | QCBT |  | CRBT |  | CSB |  | RB&T |  | Management |  | All other |  | Eliminations |  | Total
Three Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 16,682,874 |  | $ | 16,503,977 |  | $ | 8,406,295 |  | $ | 5,119,916 |  | $ | 3,115,653 |  | $ | 13,024,443 |  | $ | (13,142,678) |  | $ | 49,710,480
Net interest income |  |  | 12,290,034 |  |  | 10,481,055 |  |  | 6,734,510 |  |  | 3,401,849 |  |  | — |  |  | (822,952) |  |  | — |  |  | 32,084,496
Provision |  |  | 1,254,493 |  |  | 627,742 |  |  | 221,000 |  |  | 197,500 |  |  | — |  |  | — |  |  | — |  |  | 2,300,735
Net income |  |  | 4,510,902 |  |  | 4,705,042 |  |  | 2,158,347 |  |  | 813,623 |  |  | 796,911 |  |  | 10,405,693 |  |  | (12,945,133) |  |  | 10,445,385
Goodwill |  |  | 3,222,688 |  |  | 14,979,984 |  |  | 9,888,225 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,090,897
Core deposit intangible |  |  | — |  |  | 3,439,864 |  |  | 5,029,987 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,469,851
Total assets |  |  | 1,563,643,434 |  |  | 1,345,431,093 |  |  | 712,138,515 |  |  | 484,123,277 |  |  | — |  |  | 463,206,792 |  |  | (461,660,406) |  |  | 4,106,882,705
Three Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 14,210,040 |  | $ | 10,149,769 |  | $ | 8,171,307 |  | $ | 4,241,431 |  | $ | 2,560,836 |  | $ | 10,181,814 |  | $ | (10,279,411) |  | $ | 39,235,786
Net interest income |  |  | 11,414,818 |  |  | 7,230,425 |  |  | 6,920,820 |  |  | 3,095,512 |  |  | — |  |  | (614,878) |  |  | — |  |  | 28,046,697
Provision |  |  | 552,993 |  |  | 300,000 |  |  | 861,000 |  |  | 309,000 |  |  | — |  |  | — |  |  | — |  |  | 2,022,993
Net income |  |  | 4,073,777 |  |  | 2,870,582 |  |  | 1,920,040 |  |  | 834,842 |  |  | 454,465 |  |  | 8,766,014 |  |  | (10,153,703) |  |  | 8,766,017
Goodwill |  |  | 3,222,688 |  |  | — |  |  | 9,888,225 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,110,913
Core deposit intangible |  |  | — |  |  | 1,172,141 |  |  | 5,747,339 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,919,480
Total assets |  |  | 1,400,307,827 |  |  | 993,768,912 |  |  | 642,761,140 |  |  | 426,159,677 |  |  | — |  |  | 382,407,292 |  |  | (388,218,153) |  |  | 3,457,186,695
Six Months Ended June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 32,490,444 |  | $ | 32,501,309 |  | $ | 16,569,618 |  | $ | 10,117,861 |  | $ | 6,305,078 |  | $ | 25,556,486 |  | $ | (25,742,571) |  | $ | 97,798,225
Net interest income |  |  | 24,410,336 |  |  | 21,316,903 |  |  | 13,478,457 |  |  | 6,867,003 |  |  | — |  |  | (1,585,285) |  |  | — |  |  | 64,487,414
Provision for loan/lease losses |  |  | 2,374,902 |  |  | 1,229,570 |  |  | 796,602 |  |  | 439,500 |  |  | — |  |  | — |  |  | — |  |  | 4,840,574
Net income |  |  | 8,968,770 |  |  | 9,321,570 |  |  | 4,026,935 |  |  | 1,554,918 |  |  | 1,567,776 |  |  | 20,920,203 |  |  | (25,364,826) |  |  | 20,995,346
Goodwill |  |  | 3,222,688 |  |  | 14,979,984 |  |  | 9,888,225 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,090,897
Core deposit intangible |  |  | — |  |  | 3,439,864 |  |  | 5,029,987 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,469,851
Total assets |  |  | 1,563,643,434 |  |  | 1,345,431,093 |  |  | 712,138,515 |  |  | 484,123,277 |  |  | — |  |  | 463,206,792 |  |  | (461,660,406) |  |  | 4,106,882,705
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenue |  | $ | 27,745,981 |  | $ | 20,536,314 |  | $ | 16,303,013 |  | $ | 8,189,230 |  | $ | 5,262,642 |  | $ | 20,057,957 |  | $ | (20,230,498) |  | $ | 77,864,639
Net interest income |  |  | 22,716,300 |  |  | 14,204,472 |  |  | 13,947,328 |  |  | 6,063,586 |  |  | — |  |  | (1,216,106) |  |  | — |  |  | 55,715,580
Provision for loan/lease losses |  |  | 1,484,102 |  |  | 550,000 |  |  | 1,635,000 |  |  | 459,000 |  |  | — |  |  | — |  |  | — |  |  | 4,128,102
Net income |  |  | 7,728,783 |  |  | 5,763,142 |  |  | 3,815,174 |  |  | 1,679,411 |  |  | 1,015,527 |  |  | 17,950,982 |  |  | (20,002,037) |  |  | 17,950,982
Goodwill |  |  | 3,222,688 |  |  | — |  |  | 9,888,225 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,110,913
Core deposit intangible |  |  | — |  |  | 1,172,141 |  |  | 5,747,339 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,919,480
Total assets |  |  | 1,400,307,827 |  |  | 993,768,912 |  |  | 642,761,140 |  |  | 426,159,677 |  |  | — |  |  | 382,407,292 |  |  | (388,218,153) |  |  | 3,457,186,695

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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