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Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information

Segment Information:

The reportable segments are determined by the products and services offered, primarily distinguished between banking and trust. 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

 

June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,777

 

 

$

100,253

 

 

$

(4,263

)

 

$

101,767

 

Total assets

 

$

20,631

 

 

$

4,096,146

 

 

$

(2,413

)

 

$

4,114,364

 

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,814

 

 

$

101,055

 

 

$

(4,263

)

 

$

102,606

 

Total assets

 

$

14,365

 

 

$

4,124,530

 

 

$

3,854

 

 

$

4,142,749

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

38

 

 

$

32,486

 

 

$

(813

)

 

$

31,711

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

616

 

 

 

0

 

 

 

616

 

Service fees, security gains and other noninterest income

 

 

4,839

 

 

 

4,606

 

 

 

32

 

 

 

9,477

 

Noninterest expense

 

 

3,614

 

 

 

16,174

 

 

 

494

 

 

 

20,282

 

Amortization and depreciation expense

 

 

28

 

 

 

1,038

 

 

 

113

 

 

 

1,179

 

Income before taxes

 

 

1,235

 

 

 

19,264

 

 

 

(1,388

)

 

 

19,111

 

Income taxes

 

 

258

 

 

 

3,266

 

 

 

(364

)

 

 

3,160

 

Net income

 

$

977

 

 

$

15,998

 

 

$

(1,024

)

 

$

15,951

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

32

 

 

$

26,509

 

 

$

(51

)

 

$

26,490

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

50

 

 

 

0

 

 

 

50

 

Service fees, security gains and other noninterest income

 

 

2,798

 

 

 

6,775

 

 

 

(65

)

 

 

9,508

 

Noninterest expense

 

 

1,536

 

 

 

14,910

 

 

 

(179

)

 

 

16,267

 

Amortization and depreciation expense

 

 

63

 

 

 

672

 

 

 

68

 

 

 

803

 

Income before taxes

 

 

1,231

 

 

 

17,652

 

 

 

(5

)

 

 

18,878

 

Income taxes

 

 

259

 

 

 

3,122

 

 

 

(78

)

 

 

3,303

 

Net income

 

$

972

 

 

$

14,530

 

 

$

73

 

 

$

15,575

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Six Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

72

 

 

$

64,479

 

 

$

(1,598

)

 

$

62,953

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

258

 

 

 

0

 

 

 

258

 

Service fees, security gains and other noninterest income

 

 

14,037

 

 

 

13,347

 

 

 

(209

)

 

 

27,175

 

Noninterest expense

 

 

5,383

 

 

 

43,616

 

 

 

577

 

 

 

49,576

 

Amortization and depreciation expense

 

 

56

 

 

 

2,058

 

 

 

227

 

 

 

2,341

 

Income before taxes

 

 

8,670

 

 

 

31,894

 

 

 

(2,611

)

 

 

37,953

 

Income taxes

 

 

1,820

 

 

 

5,000

 

 

 

(662

)

 

 

6,158

 

Net income

 

$

6,850

 

 

$

26,894

 

 

$

(1,949

)

 

$

31,795

 

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Six Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

63

 

 

$

51,799

 

 

$

(105

)

 

$

51,757

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

475

 

 

 

0

 

 

 

475

 

Service fees, security gains and other noninterest income

 

 

5,401

 

 

 

14,289

 

 

 

(50

)

 

 

19,640

 

Noninterest expense

 

 

3,092

 

 

 

30,091

 

 

 

(397

)

 

 

32,786

 

Amortization and depreciation expense

 

 

127

 

 

 

1,338

 

 

 

136

 

 

 

1,601

 

Income before taxes

 

 

2,245

 

 

 

34,184

 

 

 

106

 

 

 

36,535

 

Income taxes

 

 

471

 

 

 

6,069

 

 

 

(136

)

 

 

6,404

 

Net income

 

$

1,774

 

 

$

28,115

 

 

$

242

 

 

$

30,131

 

 

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