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Segment Reporting
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting

(15.)

SEGMENT REPORTING

The Company has two reportable segments: Banking and Non-Banking. These reportable segments have been identified and organized based on the nature of the underlying products and services applicable to each segment, the type of customers to whom those products and services are offered and the distribution channel through which those products and services are made available.

The Banking segment includes all of the Company’s retail and commercial banking operations. The Non-Banking segment includes the activities of SDN, a full-service insurance agency that provides a broad range of insurance services to both personal and business clients, and Courier Capital and HNP Capital, our investment advisor and wealth management firms that provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Holding company amounts are the primary differences between segment amounts and consolidated totals and are reflected in the Holding Company and Other column below, along with amounts to eliminate balances and transactions between segments.

The following tables present information regarding our business segments as of and for the periods indicated (in thousands).

 

 

 

Banking

 

 

Non-

Banking

 

 

Holding

Company

and Other

 

 

Consolidated

Totals

 

September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

17,526

 

 

$

—

 

 

$

66,062

 

Other intangible assets, net

 

 

41

 

 

 

7,959

 

 

 

—

 

 

 

8,000

 

Total assets

 

 

4,922,251

 

 

 

37,420

 

 

 

(470

)

 

 

4,959,201

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

17,526

 

 

$

—

 

 

$

66,062

 

Other intangible assets, net

 

 

98

 

 

 

8,763

 

 

 

—

 

 

 

8,861

 

Total assets

 

 

4,346,615

 

 

 

36,733

 

 

 

830

 

 

 

4,384,178

 

 

 

 

 

Banking

 

 

Non-

Banking

 

 

Holding

Company

and Other

 

 

Consolidated

Totals

 

Three months ended September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

36,117

 

 

$

—

 

 

$

(618

)

 

$

35,499

 

Provision for credit losses

 

 

(4,028

)

 

 

—

 

 

 

—

 

 

 

(4,028

)

Noninterest income

 

 

9,101

 

 

 

3,489

 

 

 

(189

)

 

 

12,401

 

Noninterest expense

 

 

(24,504

)

 

 

(3,571

)

 

 

(584

)

 

 

(28,659

)

Income (loss) before income taxes

 

 

16,686

 

 

 

(82

)

 

 

(1,391

)

 

 

15,213

 

Income tax (expense) benefit

 

 

(3,598

)

 

 

18

 

 

 

640

 

 

 

(2,940

)

Net income (loss)

 

$

13,088

 

 

$

(64

)

 

$

(751

)

 

$

12,273

 

Nine months ended September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

104,657

 

 

$

—

 

 

$

(1,853

)

 

$

102,804

 

Provision for credit losses

 

 

(21,689

)

 

 

—

 

 

 

—

 

 

 

(21,689

)

Noninterest income

 

 

23,169

 

 

 

9,543

 

 

 

(517

)

 

 

32,195

 

Noninterest expense

 

 

(72,008

)

 

 

(9,349

)

 

 

(1,718

)

 

 

(83,075

)

Income (loss) before income taxes

 

 

34,129

 

 

 

194

 

 

 

(4,088

)

 

 

30,235

 

Income tax (expense) benefit

 

 

(6,317

)

 

 

(56

)

 

 

670

 

 

 

(5,703

)

Net income (loss)

 

$

27,812

 

 

$

138

 

 

$

(3,418

)

 

$

24,532

 

 


(15.)

SEGMENT REPORTING (Continued)

 

 

 

 

Banking

 

 

Non-

Banking

 

 

Holding

Company

and Other

 

 

Consolidated

Totals

 

Three months ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

33,101

 

 

$

—

 

 

$

(618

)

 

$

32,483

 

Provision for loan losses

 

 

(1,844

)

 

 

—

 

 

 

—

 

 

 

(1,844

)

Noninterest income

 

 

9,398

 

 

 

3,149

 

 

 

(186

)

 

 

12,361

 

Noninterest expense

 

 

(22,153

)

 

 

(3,225

)

 

 

(508

)

 

 

(25,886

)

Income (loss) before income taxes

 

 

18,502

 

 

 

(76

)

 

 

(1,312

)

 

 

17,114

 

Income tax (expense) benefit

 

 

(4,034

)

 

 

16

 

 

 

(263

)

 

 

(4,281

)

Net income (loss)

 

$

14,468

 

 

$

(60

)

 

$

(1,575

)

 

$

12,833

 

Nine months ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

98,592

 

 

$

—

 

 

$

(1,853

)

 

$

96,739

 

Provision for loan losses

 

 

(5,391

)

 

 

—

 

 

 

—

 

 

 

(5,391

)

Noninterest income

 

 

22,452

 

 

 

8,809

 

 

 

(547

)

 

 

30,714

 

Noninterest expense

 

 

(65,256

)

 

 

(9,097

)

 

 

(1,707

)

 

 

(76,060

)

Income (loss) before income taxes

 

 

50,397

 

 

 

(288

)

 

 

(4,107

)

 

 

46,002

 

Income tax (expense) benefit

 

 

(10,693

)

 

 

59

 

 

 

387

 

 

 

(10,247

)

Net income (loss)

 

$

39,704

 

 

$

(229

)

 

$

(3,720

)

 

$

35,755