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Segment Reporting
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting

(17.)

SEGMENT REPORTING

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, 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, 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.

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

 

 

 

Banking

 

 

All Other

 

 

Consolidated

Totals

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,137

 

 

$

66,673

 

Other intangible assets, net

 

 

18

 

 

 

7,837

 

 

 

7,855

 

Total assets

 

 

5,291,625

 

 

 

37,431

 

 

 

5,329,056

 

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

 

 

 

 

 

Banking

 

 

All Other (1)

 

 

Consolidated

Totals

 

Three months ended March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

38,918

 

 

$

(1,061

)

 

$

37,857

 

(Provision) benefit for credit losses

 

 

1,981

 

 

 

—

 

 

 

1,981

 

Noninterest income

 

 

9,275

 

 

 

3,684

 

 

 

12,959

 

Noninterest expense

 

 

(22,633

)

 

 

(4,107

)

 

 

(26,740

)

Income (loss) before income taxes

 

 

27,541

 

 

 

(1,484

)

 

 

26,057

 

Income tax (expense) benefit

 

 

(6,035

)

 

 

688

 

 

 

(5,347

)

Net income (loss)

 

$

21,506

 

 

$

(796

)

 

$

20,710

 

 

(1)

Reflects activity from the acquisition of assets of Landmark Group since February 1, 2021 (the date of acquisition).

 

 

 

Banking

 

 

All Other

 

 

Consolidated

Totals

 

Three months ended March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

33,742

 

 

$

(618

)

 

$

33,124

 

Provision for credit losses

 

 

(13,915

)

 

 

—

 

 

 

(13,915

)

Noninterest income

 

 

6,815

 

 

 

3,095

 

 

 

9,910

 

Noninterest expense

 

 

(23,726

)

 

 

(3,944

)

 

 

(27,670

)

Income (loss) before income taxes

 

 

2,916

 

 

 

(1,467

)

 

 

1,449

 

Income tax (expense) benefit

 

 

141

 

 

 

(463

)

 

 

(322

)

Net income (loss)

 

$

3,057

 

 

$

(1,930

)

 

$

1,127