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Segment Information
 9 Months Ended
Sep. 30, 2023
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

 

September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,694

 

 

$

189,895

 

 

$

(4,263

)

 

$

191,326

 

Total assets

 

$

14,483

 

 

$

4,954,518

 

 

$

2,162

 

 

$

4,971,163

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,739

 

 

$

100,190

 

 

$

(4,263

)

 

$

101,666

 

Total assets

 

$

14,383

 

 

$

4,064,112

 

 

$

3,705

 

 

$

4,082,200

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

81

 

 

$

34,679

 

 

$

(992

)

 

$

33,768

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

243

 

 

 

0

 

 

 

243

 

Service fees, security gains and other noninterest income

 

 

2,994

 

 

 

6,847

 

 

 

(10

)

 

 

9,831

 

Noninterest expense

 

 

1,679

 

 

 

23,873

 

 

 

484

 

 

 

26,036

 

Amortization and depreciation expense

 

 

22

 

 

 

1,544

 

 

 

114

 

 

 

1,680

 

Income before taxes

 

 

1,374

 

 

 

15,866

 

 

 

(1,600

)

 

 

15,640

 

Income taxes

 

 

289

 

 

 

2,416

 

 

 

(379

)

 

 

2,326

 

Net income

 

$

1,085

 

 

$

13,450

 

 

$

(1,221

)

 

$

13,314

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Nine Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

195

 

 

$

107,663

 

 

$

(2,902

)

 

$

104,956

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

8,867

 

 

 

0

 

 

 

8,867

 

Service fees, security gains and other noninterest income

 

 

8,562

 

 

 

21,770

 

 

 

(627

)

 

 

29,705

 

Noninterest expense

 

 

4,976

 

 

 

72,464

 

 

 

1,604

 

 

 

79,044

 

Amortization and depreciation expense

 

 

68

 

 

 

5,372

 

 

 

340

 

 

 

5,780

 

Income before taxes

 

 

3,713

 

 

 

42,730

 

 

 

(5,473

)

 

 

40,970

 

Income taxes

 

 

781

 

 

 

6,122

 

 

 

(1,289

)

 

 

5,614

 

Net income

 

$

2,932

 

 

$

36,608

 

 

$

(4,184

)

 

$

35,356

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

54

 

 

$

32,602

 

 

$

(875

)

 

$

31,781

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

448

 

 

 

0

 

 

 

448

 

Service fees, security gains and other noninterest income

 

 

2,731

 

 

 

6,248

 

 

 

(152

)

 

 

8,827

 

Noninterest expense

 

 

1,666

 

 

 

17,942

 

 

 

657

 

 

 

20,265

 

Amortization and depreciation expense

 

 

27

 

 

 

994

 

 

 

113

 

 

 

1,134

 

Income before taxes

 

 

1,092

 

 

 

19,466

 

 

 

(1,797

)

 

 

18,761

 

Income taxes

 

 

229

 

 

 

3,438

 

 

 

(352

)

 

 

3,315

 

Net income

 

$

863

 

 

$

16,028

 

 

$

(1,445

)

 

$

15,446

 

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Nine Months Ended September 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

126

 

 

$

97,081

 

 

$

(2,473

)

 

$

94,734

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

706

 

 

 

0

 

 

 

706

 

Service fees, security gains and other noninterest income

 

 

16,768

 

 

 

19,595

 

 

 

(361

)

 

 

36,002

 

Noninterest expense

 

 

7,049

 

 

 

61,558

 

 

 

1,234

 

 

 

69,841

 

Amortization and depreciation expense

 

 

83

 

 

 

3,052

 

 

 

340

 

 

 

3,475

 

Income before taxes

 

 

9,762

 

 

 

51,360

 

 

 

(4,408

)

 

 

56,714

 

Income taxes

 

 

2,049

 

 

 

8,438

 

 

 

(1,014

)

 

 

9,473

 

Net income

 

$

7,713

 

 

$

42,922

 

 

$

(3,394

)

 

$

47,241

 

 

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