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Segment Reporting
 6 Months Ended
Jun. 30, 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

 

June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,137

 

 

$

66,673

 

Other intangible assets, net

 

 

10

 

 

 

7,579

 

 

 

7,589

 

Total assets

 

 

5,257,795

 

 

 

37,307

 

 

 

5,295,102

 

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 June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

38,788

 

 

$

(1,056

)

 

$

37,732

 

Benefit (provision) for credit losses

 

 

4,622

 

 

 

—

 

 

 

4,622

 

Noninterest income

 

 

6,603

 

 

 

3,587

 

 

 

10,190

 

Noninterest expense

 

 

(23,199

)

 

 

(3,745

)

 

 

(26,944

)

Income (loss) before income taxes

 

 

26,814

 

 

 

(1,214

)

 

 

25,600

 

Income tax (expense) benefit

 

 

(5,780

)

 

 

380

 

 

 

(5,400

)

Net income (loss)

 

$

21,034

 

 

$

(834

)

 

$

20,200

 

Six months ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

77,706

 

 

$

(2,117

)

 

$

75,589

 

Benefit (provision) for credit losses

 

 

6,603

 

 

 

—

 

 

 

6,603

 

Noninterest income

 

 

15,878

 

 

 

7,271

 

 

 

23,149

 

Noninterest expense

 

 

(45,832

)

 

 

(7,852

)

 

 

(53,684

)

Income (loss) before income taxes

 

 

54,355

 

 

 

(2,698

)

 

 

51,657

 

Income tax (expense) benefit

 

 

(11,815

)

 

 

1,068

 

 

 

(10,747

)

Net income (loss)

 

$

42,540

 

 

$

(1,630

)

 

$

40,910

 

 

(1)

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

 

 

 

(17.)

SEGMENT REPORTING (Continued)

 

 

 

Banking

 

 

All Other

 

 

Consolidated

Totals

 

Three months ended June 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

34,798

 

 

$

(617

)

 

$

34,181

 

Provision for credit losses

 

 

(3,746

)

 

 

—

 

 

 

(3,746

)

Noninterest income

 

 

7,082

 

 

 

2,631

 

 

 

9,713

 

Noninterest expense

 

 

(23,607

)

 

 

(2,968

)

 

 

(26,575

)

Income (loss) before income taxes

 

 

14,527

 

 

 

(954

)

 

 

13,573

 

Income tax (expense) benefit

 

 

(2,860

)

 

 

419

 

 

 

(2,441

)

Net income (loss)

 

$

11,667

 

 

$

(535

)

 

$

11,132

 

Six months ended June 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

68,540

 

 

$

(1,235

)

 

$

67,305

 

Provision for credit losses

 

 

(17,661

)

 

 

—

 

 

 

(17,661

)

Noninterest income

 

 

13,897

 

 

 

5,726

 

 

 

19,623

 

Noninterest expense

 

 

(47,333

)

 

 

(6,912

)

 

 

(54,245

)

Income (loss) before income taxes

 

 

17,443

 

 

 

(2,421

)

 

 

15,022

 

Income tax (expense) benefit

 

 

(2,719

)

 

 

(44

)

 

 

(2,763

)

Net income (loss)

 

$

14,724

 

 

$

(2,465

)

 

$

12,259