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

Segment Information:

The reportable segments are determined by the products and services offered, primarily distinguished between banking and trust.  The trust and retirement consulting segments were combined in 2019.   These segments are also distinguished by the level of information provided to the chief operating decision makers in the Company, who use such information to review performance of various components of the business, which are then aggregated.  Loans, investments, and deposits provide the revenues in the banking operation.  All operations are domestic.  Significant segment totals are reconciled to the financial statements as follows:

 

(In Thousands of Dollars)

 

Trust

Segment

 

 

Bank

Segment

 

 

Eliminations

and Others

 

 

Consolidated

Totals

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,988

 

 

$

46,871

 

 

$

(3,558

)

 

$

49,301

 

Total assets

 

$

15,668

 

 

$

3,308,577

 

 

$

279

 

 

$

3,324,524

 

 

(In Thousands of Dollars)

 

Trust

Segment

 

 

Bank

Segment

 

 

Eliminations

and Others

 

 

Consolidated

Totals

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

6,046

 

 

$

47,129

 

 

$

(3,558

)

 

$

49,617

 

Total assets

 

$

15,147

 

 

$

3,055,628

 

 

$

373

 

 

$

3,071,148

 

 

 

(In Thousands of Dollars)

 

Trust

Segment

 

 

Bank

Segment

 

 

Eliminations

and Others

 

 

Consolidated

Totals

 

For Three Months Ended March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

31

 

 

$

25,290

 

 

$

(54

)

 

$

25,267

 

Provision for credit losses

 

 

0

 

 

 

425

 

 

 

0

 

 

 

425

 

Service fees, security gains and other noninterest income

 

 

2,603

 

 

 

7,965

 

 

 

15

 

 

 

10,583

 

Noninterest expense

 

 

1,556

 

 

 

15,632

 

 

 

(218

)

 

 

16,970

 

Amortization and depreciation expense

 

 

64

 

 

 

666

 

 

 

68

 

 

 

798

 

Income before taxes

 

 

1,014

 

 

 

16,532

 

 

 

111

 

 

 

17,657

 

Income taxes

 

 

212

 

 

 

2,947

 

 

 

(58

)

 

 

3,101

 

Net income

 

$

802

 

 

$

13,585

 

 

$

169

 

 

$

14,556

 

 

 

(In Thousands of Dollars)

 

Trust

Segment

 

 

Bank

Segment

 

 

Eliminations

and Others

 

 

Consolidated

Totals

 

For Three Months Ended March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

34

 

 

$

22,352

 

 

$

(84

)

 

$

22,302

 

Provision for credit losses

 

 

0

 

 

 

1,100

 

 

 

0

 

 

 

1,100

 

Service fees, security gains and other noninterest income

 

 

2,243

 

 

 

5,620

 

 

 

(148

)

 

 

7,715

 

Noninterest expense

 

 

1,517

 

 

 

15,881

 

 

 

433

 

 

 

17,831

 

Amortization and depreciation expense

 

 

76

 

 

 

627

 

 

 

48

 

 

 

751

 

Income before taxes

 

 

684

 

 

 

10,364

 

 

 

(713

)

 

 

10,335

 

Income taxes

 

 

144

 

 

 

1,759

 

 

 

(207

)

 

 

1,696

 

Net income

 

$

540

 

 

$

8,605

 

 

$

(506

)

 

$

8,639

 

 

 

The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co.