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Segment Reporting
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting

(24.) SEGMENT REPORTING

Effective with year-end December 31, 2020, the Company reduced its reportable segments to one, as it determined that the previously disclosed “Non-Banking” reportable segment no longer met the quantitative or qualitative thresholds for separate disclosure. Previously reported results have been reclassified to conform to the current reporting structure.

The Company has one reportable segment, Banking, which includes all of the Company’s retail and commercial banking operations. This reportable segment has been identified and organized based on the nature of the underlying products and services applicable to the 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.

All other segments that do not meet the quantitative threshold for separate reporting have been grouped as “All Other.” This “All Other” grouping includes the activities of SDN, a full service insurance agency that provides a broad range of insurance services to both personal and business clients, 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, and Holding Company amounts, which are the primary differences between segment amounts and consolidated totals, along with amounts to eliminate balances and transactions between segments.

(24.) SEGMENT REPORTING (Continued)

The following table presents information regarding the Company’s business segments as of the dates indicated (in thousands).

 

 

 

Banking

 

 

All Other

 

 

Consolidated

Totals

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

17,526

 

 

$

66,062

 

Other intangible assets, net

 

 

28

 

 

 

7,699

 

 

 

7,727

 

Total assets

 

 

4,875,673

 

 

 

36,633

 

 

 

4,912,306

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

17,526

 

 

$

66,062

 

Other intangible assets, net

 

 

98

 

 

 

8,763

 

 

 

8,861

 

Total assets

 

 

4,346,615

 

 

 

37,563

 

 

 

4,384,178

 

 

The following table presents information regarding the Company’s business segments for the periods indicated (in thousands).

 

 

 

Banking

 

 

All Other(1)

 

 

Consolidated

Totals

 

Year ended December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

141,873

 

 

$

(2,888

)

 

$

138,985

 

Provision for credit losses - loans

 

 

(27,184

)

 

 

-

 

 

 

(27,184

)

Noninterest income

 

 

31,232

 

 

 

11,944

 

 

 

43,176

 

Noninterest expense

 

 

(94,988

)

 

 

(14,266

)

 

 

(109,254

)

Income (loss) before income taxes

 

 

50,933

 

 

 

(5,210

)

 

 

45,723

 

Income tax (expense) benefit

 

 

(8,630

)

 

 

1,239

 

 

 

(7,391

)

Net income (loss)

 

$

42,303

 

 

$

(3,971

)

 

$

38,332

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

132,383

 

 

$

(2,471

)

 

$

129,912

 

Provision for loan losses

 

 

(8,044

)

 

 

-

 

 

 

(8,044

)

Noninterest income

 

 

29,390

 

 

 

10,991

 

 

 

40,381

 

Noninterest expense (2)

 

 

(88,801

)

 

 

(14,027

)

 

 

(102,828

)

Income (loss) before income taxes

 

 

64,928

 

 

 

(5,507

)

 

 

59,421

 

Income tax (expense) benefit

 

 

(11,190

)

 

 

631

 

 

 

(10,559

)

Net income (loss)

 

$

53,738

 

 

$

(4,876

)

 

$

48,862

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

125,334

 

 

$

(2,470

)

 

$

122,864

 

Provision for loan losses

 

 

(8,934

)

 

 

-

 

 

 

(8,934

)

Noninterest income

 

 

26,295

 

 

 

10,183

 

 

 

36,478

 

Noninterest expense (2)

 

 

(84,927

)

 

 

(15,949

)

 

 

(100,876

)

Income (loss) before income taxes

 

 

57,768

 

 

 

(8,236

)

 

 

49,532

 

Income tax (expense) benefit

 

 

(11,622

)

 

 

1,616

 

 

 

(10,006

)

Net income (loss)

 

$

46,146

 

 

$

(6,620

)

 

$

39,526

 

 

(1)

Reflects activity from the acquisition of HNP Capital since June 1, 2018 (the date of acquisition).

(2)

All Other includes SDN reporting unit goodwill impairment of $2.4 million for the year ended December 31, 2018.