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Segment Reporting
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting

(16.) 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, 2023

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,535

 

 

$

67,071

 

Other intangible assets, net

 

 

—

 

 

 

6,109

 

 

 

6,109

 

Total assets

 

 

5,927,077

 

 

 

39,915

 

 

 

5,966,992

 

December 31, 2022

 

 

 

 

 

 

 

 

 

Goodwill

 

$

48,536

 

 

$

18,535

 

 

$

67,071

 

Other intangible assets, net

 

 

—

 

 

 

6,343

 

 

 

6,343

 

Total assets

 

 

5,756,441

 

 

 

40,831

 

 

 

5,797,272

 

 

 

 

 

Banking

 

 

All Other

 

 

Consolidated
Totals

 

Three months ended March 31, 2023

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

42,875

 

 

$

(1,060

)

 

$

41,815

 

Provision for credit losses

 

 

(4,214

)

 

 

—

 

 

 

(4,214

)

Noninterest income

 

 

6,375

 

 

 

4,549

 

 

 

10,924

 

Noninterest expense

 

 

(29,773

)

 

 

(3,888

)

 

 

(33,661

)

Income (loss) before income taxes

 

 

15,263

 

 

 

(399

)

 

 

14,864

 

Income tax expense

 

 

(2,630

)

 

 

(145

)

 

 

(2,775

)

Net income (loss)

 

$

12,633

 

 

$

(544

)

 

$

12,089

 

 

 

 

Banking

 

 

All Other

 

 

Consolidated
Totals

 

Three months ended March 31, 2022

 

 

 

 

 

 

 

 

 

Net interest income (expense)

 

$

40,618

 

 

$

(1,060

)

 

$

39,558

 

Benefit for credit losses

 

 

(2,319

)

 

 

—

 

 

 

(2,319

)

Noninterest income

 

 

6,627

 

 

 

4,695

 

 

 

11,322

 

Noninterest expense

 

 

(25,872

)

 

 

(4,263

)

 

 

(30,135

)

Income (loss) before income taxes

 

$

19,054

 

 

$

(628

)

 

$

18,426

 

Income tax (expense) benefit

 

 

(3,636

)

 

 

193

 

 

 

(3,443

)

Net income (loss)

 

$

15,418

 

 

$

(435

)

 

$

14,983