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Note 22 - Business Segment Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Business Segment Information

Note 22. 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 chief operating decision maker consists of the  Chief Executive Officer and President/Chief Financial Officer of the Company.  The chief operating decision maker reviews financial reports that detail the interest income, interest expense, provision for credit losses, noninterest income, salaries and benefits expense, occupancy expense, other noninterest expenses, income tax expense and net income from continuing operations and compares the actual results to the amounts budgeted and the reason for variances.  The results of this review allow the Company’s chief operating decision maker to make operating decisions and allocate resources.  Capital markets revenue is considered a significant source of noninterest income.  Salaries and benefits expense and occupancy expense are considered  significant noninterest expenses.

The Company’s Commercial Banking business is geographically divided by markets into the operating segments which are the four subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB and GB. Each of these operating segments offer similar products and services, but are managed separately due to different pricing, product demand, and consumer markets. Each offers commercial, consumer, and mortgage loans and deposit services.

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.  

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Note 22. Business Segment Information (continued)

​

Selected financial information on the Company’s business segments is presented as follows as of and for the years ended December 31, 2024, 2023, and 2022:  

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Banking

​

​

​

Intercompany

​

Consolidated

​

QCBT

CRBT

CSB

GB

All other

Eliminations

Total

​

​

(dollars in thousands)

Year Ended December 31, 2024

​

​

​

​

​

​

​

​

Interest and dividend income

​

$

148,530

​

$

126,316

​

$

80,650

​

$

126,977

​

$

294

​

$

(910)

​

$

481,857

Interest expense

​

​

76,027

​

​

54,476

​

​

34,762

​

​

70,143

​

​

17,088

​

​

(2,427)

​

​

250,069

Net interest income

​

72,503

​

71,840

​

45,888

​

​

56,834

​

(16,794)

​

1,517

​

231,788

Provision for credit losses

​

10,460

​

5,365

​

(154)

​

​

1,427

​

—

​

—

​

17,098

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

270

​

​

62,418

​

​

—

​

​

8,369

​

​

—

​

​

—

​

​

71,057

Other segment revenue items

​

​

19,115

​

​

10,666

​

​

5,603

​

​

10,326

​

​

145,001

​

​

(146,239)

​

​

44,472

Total noninterest income

​

​

19,385

​

​

73,084

​

​

5,603

​

​

18,695

​

​

145,001

​

​

(146,239)

​

​

115,529

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

32,062

​

​

36,521

​

​

18,403

​

​

29,642

​

​

11,558

​

​

—

​

​

128,186

Occupancy expense

​

​

5,963

​

​

6,221

​

​

4,577

​

​

6,700

​

​

1,952

​

​

—

​

​

25,413

Other segment expense items

​

​

18,954

​

​

14,373

​

​

8,480

​

​

11,651

​

​

3,004

​

​

(2,419)

​

​

54,043

Total noninterest expense

​

​

56,979

​

​

57,115

​

​

31,460

​

​

47,993

​

​

16,514

​

​

(2,419)

​

​

207,642

Income tax expense

​

​

2,019

​

​

10,383

​

​

619

​

​

(30)

​

​

(4,264)

​

​

—

​

​

8,727

Net income (loss) from continuing operations

​

$

22,430

​

$

72,061

​

$

19,566

​

$

26,139

​

$

115,957

​

$

(142,303)

​

$

113,850

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

2,791

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

138,595

Intangibles

​

—

​

628

​

865

​

9,568

​

—

​

—

​

11,061

Total assets

​

2,588,587

​

2,614,570

​

1,531,559

​

2,342,958

​

1,332,834

​

(1,384,478)

​

9,026,030

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 2023

​

​

​

​

​

​

​

​

Interest and dividend income

​

$

128,280

​

$

108,113

​

$

68,069

​

$

110,130

​

$

181

​

$

(1,363)

​

$

413,410

Interest expense

​

​

60,379

​

​

40,700

​

​

24,413

​

​

53,464

​

​

16,066

​

​

(2,618)

​

​

192,404

Net interest income

​

67,901

​

67,413

​

43,656

​

​

56,666

​

(15,885)

​

1,255

​

221,006

Provision for credit losses

​

12,512

​

2,139

​

1,248

​

640

​

—

​

—

​

16,539

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

246

​

​

82,593

​

​

—

​

​

9,226

​

​

—

​

​

—

​

​

92,065

Other segment revenue items

​

​

16,849

​

​

10,587

​

​

5,184

​

​

8,682

​

​

142,427

​

​

(143,110)

​

​

40,619

Total noninterest income

​

​

17,095

​

​

93,180

​

​

5,184

​

​

17,908

​

​

142,427

​

​

(143,110)

​

​

132,684

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

28,470

​

​

51,733

​

​

16,749

​

​

29,727

​

​

9,940

​

​

—

​

​

136,619

Occupancy expense

​

​

5,627

​

​

6,029

​

​

4,489

​

​

7,108

​

​

1,778

​

​

—

​

​

25,031

Other segment expense items

​

​

14,693

​

​

14,457

​

​

7,997

​

​

11,749

​

​

2,284

​

​

(2,299)

​

​

48,881

Total noninterest expense

​

​

48,790

​

​

72,219

​

​

29,235

​

​

48,584

​

​

14,002

​

​

(2,299)

​

​

210,531

Income tax expense

​

​

1,927

​

​

13,857

​

​

330

​

​

71

​

​

(3,123)

​

​

—

​

​

13,062

Net income (loss) from continuing operations

​

$

21,767

​

$

72,378

​

$

18,027

​

$

25,279

​

$

115,663

​

$

(139,556)

​

$

113,558

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

3,223

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

139,027

Intangibles

​

—

​

883

​

1,430

​

11,508

​

—

​

—

​

13,821

Total assets

​

2,448,957

​

2,419,146

​

1,426,202

​

2,281,296

​

1,213,954

​

(1,250,661)

​

8,538,894

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 2022

​

​

​

​

​

​

​

​

Interest and dividend income

​

$

88,195

​

$

75,411

​

$

48,604

​

$

79,266

​

$

58

​

$

1,037

​

$

292,571

Interest expense

​

​

16,591

​

​

10,019

​

​

7,824

​

​

15,532

​

​

11,835

​

​

(350)

​

​

61,451

Net interest income

​

71,604

​

65,392

​

40,780

​

​

63,734

​

(11,777)

​

1,387

​

231,120

Provision for loan/lease losses

​

1,073

​

(961)

​

(1,336)

​

9,508

​

—

​

—

​

8,284

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

479

​

​

38,772

​

​

144

​

​

1,914

​

​

—

​

​

—

​

​

41,309

Other segment revenue items

​

​

14,946

​

​

13,887

​

​

5,381

​

​

6,700

​

​

131,865

​

​

(133,359)

​

​

39,420

Total noninterest income

​

​

15,425

​

​

52,659

​

​

5,525

​

​

8,614

​

​

131,865

​

​

(133,359)

​

​

80,729

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

27,895

​

​

36,339

​

​

16,180

​

​

19,403

​

​

15,551

​

​

—

​

​

115,368

Occupancy expense

​

​

4,953

​

​

5,376

​

​

4,513

​

​

5,447

​

​

1,686

​

​

—

​

​

21,975

Other segment expense items

​

​

12,148

​

​

12,537

​

​

7,961

​

​

8,606

​

​

13,215

​

​

(1,794)

​

​

52,673

Total noninterest expense

​

​

44,996

​

​

54,252

​

​

28,654

​

​

33,456

​

​

30,452

​

​

(1,794)

​

​

190,016

Income tax expense

​

​

7,110

​

​

11,185

​

​

1,762

​

​

5,094

​

​

(10,668)

​

​

—

​

​

14,483

Net income (loss) from continuing operations

​

$

33,850

​

$

53,575

​

$

17,225

​

$

24,290

​

$

100,304

​

$

(130,178)

​

$

99,066

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

3,223

​

$

14,980

​

$

9,888

​

$

109,516

​

$

—

​

$

—

​

$

137,607

Intangibles

​

—

​

1,225

​

2,027

​

13,507

​

—

​

—

​

16,759

Total assets

​

2,312,012

​

2,185,500

​

1,297,812

​

2,146,474

​

1,086,351

​

(1,079,312)

​

7,948,837

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Note 22. Business Segment Information (continued)

​

Intercompany eliminations included in the selected financial information on the Company’s business segments consist of equity in net income of each subsidiary bank and investment in each subsidiary bank as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Banking

​

​

​

QCBT

CRBT

CSB

GB

Total

​

​

​

(dollars in thousands)

​

Year Ended December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

22,430

​

$

72,061

​

$

19,566

​

$

26,140

​

$

140,197

​

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

280,945

​

​

423,857

​

​

173,133

​

​

381,636

​

​

1,259,571

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 2023

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

21,766

​

$

72,378

​

$

18,027

​

$

25,280

​

$

137,451

​

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

$

260,160

​

​

353,299

​

​

153,838

​

​

355,506

​

​

1,122,803

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31, 2022

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

33,850

​

$

53,576

​

$

17,225

​

$

24,289

​

$

128,940

​

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

238,631

​

​

277,812

​

​

122,826

​

​

326,704

​

​

965,973

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

.

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://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-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 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-47

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 54
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-54

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 47
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