XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.20.2

NOTE 7 - BUSINESS SEGMENT INFORMATION | 6 Months Ended
--- | ---
Jun. 30, 2020
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 four held for investment subsidiary banks wholly owned by the Company: QCBT, CRBT, CSB, 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, asset management, investment management and advisory services offered at the Company's subsidiary banks and the Bates Companies 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 corporate operations of the parent and operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds. The financial results for RB&T prior to the sale of the majority of its assets and liabilities at November 30, 2019 are also included in the Company’s All Other Segment as are the assets held for sale at June 30, 2020. 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, 2020 and 2019. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Commercial Banking | ​ | Wealth | ​ | ​ | ​ | ​ | Intercompany | ​ | Consolidated
​ | QCBT |  | CRBT |  | CSB |  | SFC Bank |  | Management |  | All other |  | Eliminations |  | Total
​ | (dollars in thousands)
Three Months Ended June 30, 2020 | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total revenue | $ | 19,727 | ​ | $ | 34,612 | ​ | $ | 9,752 | ​ | $ | 9,533 | ​ | $ | 3,627 | ​ | $ | 17,813 | ​ | $ | (17,788) | ​ | $ | 77,276
Net interest income |  | 15,653 | ​ |  | 12,820 | ​ |  | 7,538 | ​ |  | 6,201 | ​ |  | — | ​ |  | (1,509) | ​ |  | 245 | ​ |  | 40,948
Provision for loan/lease losses |  | 7,539 | ​ |  | 7,160 | ​ |  | 2,811 | ​ |  | 2,405 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 19,915
Net income (loss) from continuing operations |  | 3,307 | ​ |  | 10,580 | ​ |  | 591 | ​ |  | 1,899 | ​ |  | 986 | ​ |  | 13,797 | ​ |  | (17,421) | ​ |  | 13,739
Goodwill |  | 3,223 | ​ |  | 14,980 | ​ |  | 9,888 | ​ |  | 45,975 | ​ |  | — | ​ |  | 182 | ​ |  | — | ​ |  | 74,248
Intangibles |  | — | ​ |  | 2,437 | ​ |  | 3,643 | ​ |  | 6,344 | ​ |  | — | ​ |  | 1,448 | ​ |  | — | ​ |  | 13,872
Total assets |  | 1,984,245 | ​ |  | 2,021,043 | ​ |  | 903,648 | ​ |  | 745,470 | ​ |  | — | ​ |  | 715,740 | ​ |  | (765,385) | ​ |  | 5,604,761
​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |  | ​
Three Months Ended June 30, 2019 |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Total revenue | $ | 20,374 | ​ | $ | 23,575 | ​ | $ | 9,730 | ​ | $ | 7,757 | ​ | $ | 4,249 | ​ | $ | 23,431 | ​ | $ | (17,870) | ​ | $ | 71,246
Net interest income |  | 12,632 | ​ |  | 10,785 | ​ |  | 7,294 | ​ |  | 5,425 | ​ |  | — | ​ |  | 1,877 | ​ |  | — | ​ |  | 38,013
Provision for loan/lease losses |  | 973 | ​ |  | 300 | ​ |  | 151 | ​ |  | 485 | ​ |  | — | ​ |  | 32 | ​ |  | — | ​ |  | 1,941
Net income (loss) from continuing operations |  | 4,505 | ​ |  | 6,928 | ​ |  | 2,207 | ​ |  | 2,079 | ​ |  | 583 | ​ |  | 14,369 | ​ |  | (17,167) | ​ |  | 13,504
Goodwill |  | 3,223 | ​ |  | 14,980 | ​ |  | 9,888 | ​ |  | 45,975 | ​ |  | — | ​ |  | 3,682 | ​ |  | — | ​ |  | 77,748
Intangibles |  | — | ​ |  | 2,935 | ​ |  | 4,328 | ​ |  | 7,268 | ​ |  | — | ​ |  | 1,558 | ​ |  | — | ​ |  | 16,089
Total assets |  | 1,637,115 | ​ |  | 1,527,521 | ​ |  | 806,704 | ​ |  | 671,644 | ​ |  | — | ​ |  | 1,164,901 | ​ |  | (613,033) | ​ |  | 5,194,852
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended June 30, 2020 |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Total revenue | $ | 39,227 | ​ | $ | 56,607 | ​ | $ | 19,802 | ​ | $ | 18,224 | ​ | $ | 7,665 | ​ | $ | 33,431 | ​ | $ | (33,502) | ​ | $ | 141,454
Net interest income |  | 30,080 | ​ |  | 24,206 | ​ |  | 15,038 | ​ |  | 11,843 | ​ |  | — | ​ |  | (2,998) | ​ |  | 477 | ​ |  | 78,646
Provision for loan/lease losses |  | 10,722 | ​ |  | 9,410 | ​ |  | 4,775 | ​ |  | 3,375 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 28,282
Net income (loss) |  | 8,210 | ​ |  | 16,957 | ​ |  | 1,629 | ​ |  | 4,105 | ​ |  | 1,806 | ​ |  | 24,934 | ​ |  | (32,674) | ​ |  | 24,967
Goodwill |  | 3,223 | ​ |  | 14,980 | ​ |  | 9,888 | ​ |  | 45,975 | ​ |  | — | ​ |  | 182 | ​ |  | — | ​ |  | 74,248
Intangibles |  | — | ​ |  | 2,437 | ​ |  | 3,643 | ​ |  | 6,344 | ​ |  | — | ​ |  | 1,448 | ​ |  | — | ​ |  | 13,872
Total assets |  | 1,984,245 | ​ |  | 2,021,043 | ​ |  | 903,648 | ​ |  | 745,470 | ​ |  | — | ​ |  | 715,740 | ​ |  | (765,385) | ​ |  | 5,604,761
​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  | ​
Six Months Ended June 30, 2019 |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​
Total revenue | $ | 38,918 | ​ | $ | 42,819 | ​ | $ | 19,000 | ​ | $ | 15,045 | ​ | $ | 8,478 | ​ | $ | 43,609 | ​ | $ | (32,528) | ​ | $ | 135,341
Net interest income |  | 24,771 | ​ |  | 21,193 | ​ |  | 14,260 | ​ |  | 10,651 | ​ |  | — | ​ |  | 4,046 | ​ |  | — | ​ |  | 74,921
Provision for loan/lease losses |  | 1,993 | ​ |  | 725 | ​ |  | 301 | ​ |  | 985 | ​ |  | — | ​ |  | 71 | ​ |  | — | ​ |  | 4,075
Net income (loss) from continuing operations |  | 8,690 | ​ |  | 12,028 | ​ |  | 4,363 | ​ |  | 3,732 | ​ |  | 1,741 | ​ |  | 27,485 | ​ |  | (31,617) | ​ |  | 26,422
Goodwill |  | 3,223 | ​ |  | 14,980 | ​ |  | 9,888 | ​ |  | 45,975 | ​ |  | — | ​ |  | 3,682 | ​ |  | — | ​ |  | 77,748
Intangibles |  | — | ​ |  | 2,935 | ​ |  | 4,328 | ​ |  | 7,268 | ​ |  | — | ​ |  | 1,558 | ​ |  | — | ​ |  | 16,089
Total assets |  | 1,637,115 | ​ |  | 1,527,521 | ​ |  | 806,704 | ​ |  | 671,644 | ​ |  | — | ​ |  | 1,164,901 | ​ |  | (613,033) | ​ |  | 5,194,852
​

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration