XML 34 R26.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 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

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill and other intangibles

 

$

5,643

 

 

$

186,960

 

 

$

(4,263

)

 

$

188,340

 

Total assets

 

$

15,640

 

 

$

5,223,757

 

 

$

(2,894

)

 

$

5,236,503

 

 

(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 September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

45

 

 

$

32,854

 

 

$

(1,023

)

 

$

31,876

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

7,008

 

 

 

0

 

 

 

7,008

 

Service fees, security gains and other noninterest income

 

 

3,311

 

 

 

8,876

 

 

 

153

 

 

 

12,340

 

Noninterest expense

 

 

1,786

 

 

 

23,417

 

 

 

371

 

 

 

25,574

 

Amortization and depreciation expense

 

 

14

 

 

 

1,340

 

 

 

147

 

 

 

1,501

 

Income before taxes

 

 

1,556

 

 

 

9,965

 

 

 

(1,388

)

 

 

10,133

 

Income taxes

 

 

328

 

 

 

1,561

 

 

 

(291

)

 

 

1,598

 

Net income

 

$

1,228

 

 

$

8,404

 

 

$

(1,097

)

 

$

8,535

 

 

(In Thousands of Dollars)

 

Trust
Segment

 

 

Bank
Segment

 

 

Eliminations
and Others

 

 

Consolidated
Totals

 

For Nine Months Ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

$

159

 

 

$

98,568

 

 

$

(3,098

)

 

$

95,629

 

Provision for credit losses and unfunded loans

 

 

0

 

 

 

7,671

 

 

 

0

 

 

 

7,671

 

Service fees, security gains and other noninterest income

 

 

9,503

 

 

 

21,224

 

 

 

(425

)

 

 

30,302

 

Noninterest expense

 

 

5,515

 

 

 

68,996

 

 

 

1,402

 

 

 

75,913

 

Amortization and depreciation expense

 

 

52

 

 

 

4,177

 

 

 

375

 

 

 

4,604

 

Income before taxes

 

 

4,095

 

 

 

38,948

 

 

 

(5,300

)

 

 

37,743

 

Income taxes

 

 

862

 

 

 

6,437

 

 

 

(1,114

)

 

 

6,185

 

Net income

 

$

3,233

 

 

$

32,511

 

 

$

(4,186

)

 

$

31,558

 

 

(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

 

 

 

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