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Note 11 - BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2025
BUSINESS SEGMENT INFORMATION  
BUSINESS SEGMENT INFORMATION

NOTE 11 – 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 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 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 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.  

Selected financial information on the Company's business segments is presented as follows as of and for the three and nine months ended September 30, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Banking

​

​

​

Intercompany

​

Consolidated

​

    

QCBT

    

CRBT

    

CSB

    

GB

    

All other

    

Eliminations

    

Total

​

​

(dollars in thousands)

Three Months Ended September 30, 2025

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

​

Interest and dividend income

​

$

38,591

​

$

34,488

​

$

21,798

​

$

31,779

​

$

60

​

$

(1,701)

​

$

125,015

Interest expense

​

​

19,013

​

​

13,687

​

​

8,742

​

​

16,396

​

​

4,550

​

​

(2,172)

​

​

60,216

Net interest income

​

 

19,578

​

 

20,801

​

 

13,056

​

​

15,383

​

 

(4,490)

​

 

471

​

 

64,799

Provision for credit losses

​

 

2,015

​

 

499

​

 

1

​

​

1,790

​

 

—

​

 

—

​

 

4,305

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

795

​

​

16,852

​

​

599

​

​

5,586

​

​

—

​

​

—

​

​

23,832

Other segment revenue items

​

​

5,711

​

​

3,909

​

​

1,493

​

​

2,053

​

​

45,278

​

​

(45,625)

​

​

12,819

Total noninterest income

​

​

6,506

​

​

20,761

​

​

2,092

​

​

7,639

​

​

45,278

​

​

(45,625)

​

​

36,651

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

8,220

​

​

9,705

​

​

5,409

​

​

7,968

​

​

3,036

​

​

—

​

​

34,338

Occupancy expense

​

​

1,660

​

​

1,918

​

​

1,380

​

​

1,834

​

​

571

​

​

—

​

​

7,363

Other segment expense items

​

​

4,761

​

​

3,904

​

​

2,438

​

​

3,037

​

​

1,390

​

​

(644)

​

​

14,886

Total noninterest expense

​

​

14,641

​

​

15,527

​

​

9,227

​

​

12,839

​

​

4,997

​

​

(644)

​

​

56,587

Income tax expense

​

​

1,057

​

​

3,577

​

​

160

​

​

536

​

​

(1,486)

​

​

—

​

​

3,844

Net income (loss) from continuing operations

​

$

8,371

​

$

21,959

​

$

5,760

​

$

7,857

​

$

37,277

​

$

(44,510)

​

$

36,714

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

2,791

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

138,595

Intangibles

​

 

—

​

 

447

​

 

468

​

 

8,162

​

 

—

​

 

—

​

 

9,077

Total assets

​

 

2,794,136

​

 

2,760,379

​

 

1,680,476

​

 

2,446,635

​

 

1,424,193

​

 

(1,537,517)

​

 

9,568,302

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 2024

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

​

Interest and dividend income

​

$

38,579

​

$

33,047

​

$

20,955

​

$

32,817

​

$

77

​

$

(55)

​

$

125,420

Interest expense

​

​

19,804

​

​

14,591

​

​

9,210

​

​

18,229

​

​

4,308

​

​

(444)

​

​

65,698

Net interest income

​

 

18,775

​

 

18,456

​

 

11,745

​

​

14,588

​

 

(4,231)

​

 

389

​

 

59,722

Provision for credit losses

​

 

2,537

​

 

1,696

​

 

(186)

​

 

(563)

​

 

—

​

 

—

​

 

3,484

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

270

​

​

12,706

​

​

—

​

​

3,314

​

​

—

​

​

—

​

​

16,290

Other segment revenue items

​

​

4,836

​

​

2,574

​

​

1,515

​

​

1,990

​

​

35,415

​

​

(35,463)

​

​

10,867

Total noninterest income

​

​

5,106

​

​

15,280

​

​

1,515

​

​

5,304

​

​

35,415

​

​

(35,463)

​

​

27,157

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

7,921

​

​

8,917

​

​

4,585

​

​

7,749

​

​

2,465

​

​

—

​

​

31,637

Occupancy expense

​

​

1,484

​

​

1,530

​

​

925

​

​

1,669

​

​

560

​

​

—

​

​

6,168

Other segment expense items

​

​

6,895

​

​

3,674

​

​

2,063

​

​

2,985

​

​

748

​

​

(605)

​

​

15,760

Total noninterest expense

​

​

16,300

​

​

14,121

​

​

7,573

​

​

12,403

​

​

3,773

​

​

(605)

​

​

53,565

Income tax expense

​

​

133

​

​

1,974

​

​

346

​

​

520

​

​

(928)

​

​

—

​

​

2,045

Net income (loss) from continuing operations

​

$

4,911

​

$

15,945

​

$

5,527

​

$

7,532

​

$

28,339

​

$

(34,469)

​

$

27,785

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

2,791

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

138,595

Intangibles

​

 

—

​

 

692

​

 

1,006

​

 

10,053

​

 

—

​

 

—

​

 

11,751

Total assets

​

 

2,552,962

​

 

2,625,943

​

 

1,519,585

​

 

2,360,301

​

 

1,304,717

​

 

(1,274,943)

​

 

9,088,565

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Banking

​

​

​

​

Intercompany

​

Consolidated

​

    

QCBT

    

CRBT

    

CSB

    

GB

    

All other

    

Eliminations

    

Total

​

​

(dollars in thousands)

Nine Months Ended September 30, 2025

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

​

Interest and dividend income

​

$

111,385

​

$

99,369

​

$

62,787

​

$

91,491

​

$

219

​

$

(3,316)

​

$

361,935

Interest expense

​

​

54,213

​

​

39,079

​

​

25,312

​

​

47,962

​

​

13,120

​

​

(4,618)

​

​

175,068

Net interest income

​

 

57,172

​

 

60,290

​

 

37,475

​

​

43,529

​

 

(12,901)

​

 

1,302

​

 

186,867

Provision for credit losses

​

 

5,509

​

 

1,775

​

 

1,515

​

​

3,783

​

 

—

​

 

—

​

 

12,582

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

811

​

​

31,008

​

​

661

​

​

7,737

​

​

—

​

​

—

​

​

40,217

Other segment revenue items

​

​

16,199

​

​

10,321

​

​

4,237

​

​

5,736

​

​

112,005

​

​

(113,057)

​

​

35,441

Total noninterest income

​

​

17,010

​

​

41,329

​

​

4,898

​

​

13,473

​

​

112,005

​

​

(113,057)

​

​

75,658

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

23,078

​

​

26,518

​

​

15,059

​

​

21,946

​

​

3,575

​

​

—

​

​

90,176

Occupancy expense

​

​

4,802

​

​

5,284

​

​

3,835

​

​

5,226

​

​

1,508

​

​

—

​

​

20,655

Other segment expense items

​

​

12,859

​

​

11,062

​

​

6,926

​

​

9,271

​

​

3,698

​

​

(1,938)

​

​

41,878

Total noninterest expense

​

​

40,739

​

​

42,864

​

​

25,820

​

​

36,443

​

​

8,781

​

​

(1,938)

​

​

152,709

Income tax expense

​

​

2,779

​

​

5,984

​

​

(21)

​

​

(216)

​

​

(2,822)

​

​

—

​

​

5,704

Net income (loss) from continuing operations

​

$

25,155

​

$

50,996

​

$

15,059

​

$

16,992

​

$

93,145

​

$

(109,817)

​

$

91,530

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

2,791

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

138,595

Intangibles

​

 

—

​

 

447

​

 

468

​

 

8,162

​

 

—

​

 

—

​

 

9,077

Total assets

​

 

2,794,136

​

 

2,760,379

​

 

1,680,476

​

 

2,446,635

​

 

1,424,193

​

 

(1,537,517)

​

 

9,568,302

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 2024

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

​

Interest and dividend income

​

$

111,531

​

$

93,576

​

$

60,293

​

$

95,325

​

$

237

​

$

(747)

​

$

360,215

Interest expense

​

​

58,068

​

​

41,112

​

​

26,189

​

​

53,361

​

​

12,751

​

​

(1,850)

​

​

189,631

Net interest income

​

 

53,463

​

 

52,464

​

 

34,104

​

​

41,964

​

 

(12,514)

​

 

1,103

​

 

170,584

Provision for credit losses

​

 

8,990

​

 

3,490

​

 

47

​

​

(578)

​

 

—

​

 

—

​

 

11,949

Noninterest income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Capital markets revenue

​

​

270

​

​

43,925

​

​

—

​

​

6,310

​

​

—

​

​

—

​

​

50,505

Other segment revenue items

​

​

14,132

​

​

8,969

​

​

4,166

​

​

8,034

​

​

106,219

​

​

(107,121)

​

​

34,399

Total noninterest income

​

​

14,402

​

​

52,894

​

​

4,166

​

​

14,344

​

​

106,219

​

​

(107,121)

​

​

84,904

Noninterest expense

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Salaries and benefits expense

​

​

24,040

​

​

27,237

​

​

13,721

​

​

21,752

​

​

7,826

​

​

—

​

​

94,576

Occupancy expense

​

​

4,432

​

​

4,673

​

​

3,349

​

​

5,128

​

​

1,477

​

​

—

​

​

19,059

Other segment expense items

​

​

14,386

​

​

10,716

​

​

6,243

​

​

8,599

​

​

2,376

​

​

(1,812)

​

​

40,508

Total noninterest expense

​

​

42,858

​

​

42,626

​

​

23,313

​

​

35,479

​

​

11,679

​

​

(1,812)

​

​

154,143

Income tax expense

​

​

646

​

​

7,517

​

​

307

​

​

604

​

​

(3,303)

​

​

—

​

​

5,771

Net income (loss) from continuing operations

​

$

15,371

​

$

51,725

​

$

14,603

​

$

20,803

​

$

85,329

​

$

(104,206)

​

$

83,625

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

$

2,791

​

$

14,980

​

$

9,888

​

$

110,936

​

$

—

​

$

—

​

$

138,595

Intangibles

​

 

—

​

 

692

​

 

1,006

​

 

10,053

​

 

—

​

 

—

​

 

11,751

Total assets

​

 

2,552,962

​

 

2,625,943

​

 

1,519,585

​

 

2,360,301

​

 

1,304,717

​

 

(1,274,943)

​

 

9,088,565

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial Banking

​

​

QCBT

    

CRBT

    

CSB

    

GB

    

Total

​

​

(dollars in thousands)

Three Months Ended September 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

8,371

​

$

21,959

​

$

5,760

​

$

7,857

​

$

43,947

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

298,385

​

​

453,386

​

​

190,208

​

​

389,587

​

​

1,331,566

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

4,911

​

$

15,945

​

$

5,527

​

$

7,532

​

$

33,915

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

276,585

​

​

407,476

​

​

170,690

​

​

378,676

​

​

1,233,427

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

25,155

​

$

50,996

​

$

15,059

​

$

16,992

​

$

108,202

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

298,385

​

​

453,386

​

​

190,208

​

​

389,587

​

​

1,331,566

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other segment revenue items:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Equity in net income of subsidiary bank

​

$

15,371

​

$

51,725

​

$

14,603

​

$

20,803

​

$

102,502

Total assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Investment in subsidiary bank

​

​

276,585

​

​

407,476

​

​

170,690

​

​

378,676

​

​

1,233,427

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​