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Segment Reporting
 6 Months Ended
Jun. 30, 2022
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, 2022

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,535

 

 

$

67,071

 

Other intangible assets, net

 

 

1

 

 

 

6,825

 

 

 

6,826

 

Total assets

 

 

5,529,426

 

 

 

38,772

 

 

 

5,568,198

 

December 31, 2021

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,535

 

 

$

67,071

 

Other intangible assets, net

 

 

3

 

 

 

7,326

 

 

 

7,329

 

Total assets

 

 

5,481,889

 

 

 

38,890

 

 

 

5,520,779

 

 

 

 

 

Banking

 

 

All Other (1)

 

 

Consolidated
Totals

 

Three months ended June 30, 2022

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

42,658

 

 

$

(1,061

)

 

$

41,597

 

Provision for credit losses

 

 

(563

)

 

 

—

 

 

 

(563

)

Noninterest income

 

 

7,701

 

 

 

3,659

 

 

 

11,360

 

Noninterest expense

 

 

(28,892

)

 

 

(3,995

)

 

 

(32,887

)

Income (loss) before income taxes

 

 

20,904

 

 

 

(1,397

)

 

 

19,507

 

Income tax (expense) benefit

 

 

(4,239

)

 

 

380

 

 

 

(3,859

)

Net income (loss)

 

$

16,665

 

 

$

(1,017

)

 

$

15,648

 

Six months ended June 30, 2022

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

83,276

 

 

$

(2,121

)

 

$

81,155

 

Provision for credit losses

 

 

(2,882

)

 

 

—

 

 

 

(2,882

)

Noninterest income

 

 

14,328

 

 

 

8,354

 

 

 

22,682

 

Noninterest expense

 

 

(54,764

)

 

 

(8,258

)

 

 

(63,022

)

Income (loss) before income taxes

 

 

39,958

 

 

 

(2,025

)

 

 

37,933

 

Income tax (expense) benefit

 

 

(7,875

)

 

 

573

 

 

 

(7,302

)

Net income (loss)

 

$

32,083

 

 

$

(1,452

)

 

$

30,631

 

 

(1) Reflects activity from the acquisitions of assets of Landmark since February 1, 2021 (the date of acquisition) and North Woods since August 2, 2021 (the date of acquisition).

 

 

(17.) SEGMENT REPORTING (Continued)

 

 

 

Banking

 

 

All Other (1)

 

 

Consolidated
Totals

 

Three months ended June 30, 2021

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

38,788

 

 

$

(1,056

)

 

$

37,732

 

Benefit 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

 

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 acquisitions of assets of Landmark since February 1, 2021 (the date of acquisition).