XML 37 R26.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 2024
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

 

March 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,668

 

 

$

188,194

 

 

$

(4,263

)

 

$

189,599

 

Total assets

 

$

16,464

 

 

$

5,066,027

 

 

$

(2,481

)

 

$

5,080,010

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,680

 

 

$

188,871

 

 

$

(4,263

)

 

$

190,288

 

Total assets

 

$

15,845

 

 

$

5,065,150

 

 

$

(2,645

)

 

$

5,078,350

 

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended March 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

52

 

 

$

32,674

 

 

$

(1,039

)

 

$

31,687

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

(449

)

 

 

0

 

 

 

(449

)

Service fees, security gains and other noninterest income

 

 

3,101

 

 

 

5,434

 

 

 

(178

)

 

 

8,357

 

Noninterest expense

 

 

1,904

 

 

 

22,919

 

 

 

605

 

 

 

25,428

 

Amortization and depreciation expense

 

 

19

 

 

 

1,478

 

 

 

114

 

 

 

1,611

 

Income before taxes

 

 

1,230

 

 

 

14,160

 

 

 

(1,936

)

 

 

13,454

 

Income taxes

 

 

259

 

 

 

2,361

 

 

 

(406

)

 

 

2,214

 

Net income

 

$

971

 

 

$

11,799

 

 

$

(1,530

)

 

$

11,240

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Three Months Ended March 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

57

 

 

$

37,508

 

 

$

(955

)

 

$

36,610

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

8,599

 

 

 

0

 

 

 

8,599

 

Service fees, security gains and other noninterest income

 

 

2,900

 

 

 

7,756

 

 

 

(231

)

 

 

10,425

 

Noninterest expense

 

 

1,643

 

 

 

26,535

 

 

 

645

 

 

 

28,823

 

Amortization and depreciation expense

 

 

23

 

 

 

1,762

 

 

 

114

 

 

 

1,899

 

Income before taxes

 

 

1,291

 

 

 

8,368

 

 

 

(1,945

)

 

 

7,714

 

Income taxes

 

 

271

 

 

 

847

 

 

 

(479

)

 

 

639

 

Net income

 

$

1,020

 

 

$

7,521

 

 

$

(1,466

)

 

$

7,075

 

 

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