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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | NOTE 23 – SEGMENT INFORMATION The Company's reportable segments are determined by the Chief Financial Officer, who is the designated chief operating decision maker, based upon information provided about the Company's products and services offered, primarily distinguished between the banking and trust operations. The segments are also distinguished by the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products/services, and customers are similar. The chief operating decision maker uses revenue streams to evaluate product pricing and significant expenses to assess performance of each segment to evaluate compensation of certain employees. Segment pretax profit is used to assess the performance of the banking segment by monitoring the net interest margin and non-interest expenses. Segment pretax profit is also used to assess the performance of the trust segment by monitoring trust service fees, retirement plan consulting fees and non-interest expenses. Loans and investments provide the significant revenues in the banking operation, while trust service fees and retirement plan consulting fees provide the significant revenues in trust operations. Interest expense, provisions for credit losses and payroll provide the significant expenses in the banking operation, while payroll provides the significant expense in the trust segment. All operations are domestic. Accounting policies for segments are the same as those described in Note 1. Income taxes are calculated on operating income. Transactions among segments are made at fair value. Significant segment totals are reconciled to the financial statements as follows:
December 31, 2024 |  | Trust Segment |  |  | Bank Segment |  |  | Consolidated Segment Totals |
Total assets for reportable segments |  | $ | 17,204 |  |  | $ | 5,104,012 |  |  | $ | 5,121,216 |
Eliminations and other |  |  |  |  |  |  |  |  | (2,292 | )
Total consolidated assets |  |  |  |  |  |  |  | $ | 5,118,924 |
December 31, 2023 |  | Trust Segment |  |  | Bank Segment |  |  | Consolidated Segment Totals |
Total assets for reportable segments |  | $ | 15,845 |  |  | $ | 5,065,150 |  |  | $ | 5,080,995 |
Eliminations and other |  |  |  |  |  |  |  |  | (2,645 | )
Total consolidated assets |  |  |  |  |  |  |  | $ | 5,078,350 |
For year ended 2024 |  | Trust Segment |  |  | Bank Segment |  |  | Consolidated Segment Totals |
Interest income - loans including fees |  | $ | 0 |  |  | $ | 185,710 |  |  | $ | 185,710 |
Interest income - investments |  |  | 0 |  |  |  | 36,675 |  |  |  | 36,675 |
Trust fees |  |  | 10,099 |  |  |  | 0 |  |  |  | 10,099 |
Retirement plan consulting fees |  |  | 2,637 |  |  |  | 0 |  |  |  | 2,637 |
Total consolidated segment revenues |  |  | 12,736 |  |  |  | 222,385 |  |  |  | 235,121 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  |  |  | 34,327 |
Total consolidated revenues |  |  |  |  |  |  |  | $ | 269,448 |
Interest expense - deposits |  |  | 0 |  |  |  | 81,169 |  |  |  | 81,169 |
Interest expense - borrowings |  |  | 0 |  |  |  | 18,195 |  |  |  | 18,195 |
Provision for credit losses and unfunded loans |  |  | 0 |  |  |  | 7,966 |  |  |  | 7,966 |
Payroll expenses |  |  | 5,398 |  |  |  | 53,467 |  |  |  | 58,865 |
Total consolidated segment expenses |  |  | 5,398 |  |  |  | 160,797 |  |  |  | 166,195 |
Segment profit |  |  | 7,338 |  |  |  | 61,588 |  |  |  | 68,926 |
Reconciliation of expenses |  |  |  |  |  |  |  |  |
Other expenses * |  |  |  |  |  |  |  |  | 47,826 |
Total consolidated expenses |  |  |  |  |  |  |  | $ | 214,021 |
Total consolidated income before taxes |  |  |  |  |  |  |  | $ | 55,427 |
Other segment disclosures |  |  |  |  |  |  |  |  |
Occupancy and equipment |  | $ | 528 |  |  | $ | 15,020 |  |  | $ | 15,548 |
Intangible amortization |  | $ | 48 |  |  | $ | 2,813 |  |  | $ | 2,861 |
For year ended 2023 |  | Trust Segment |  |  | Bank Segment |  |  | Consolidated Segment Totals |
Interest income - loans including fees |  | $ | 0 |  |  | $ | 171,808 |  |  | $ | 171,808 |
Interest income - investments |  |  | 0 |  |  |  | 36,869 |  |  |  | 36,869 |
Trust fees |  |  | 9,047 |  |  |  | 0 |  |  |  | 9,047 |
Retirement plan consulting fees |  |  | 2,467 |  |  |  | 0 |  |  |  | 2,467 |
Total consolidated segment revenues |  |  | 11,514 |  |  |  | 208,677 |  |  |  | 220,191 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  |  |  | 35,005 |
Total consolidated revenues |  |  |  |  |  |  |  | $ | 255,196 |
Interest expense - deposits |  |  | 0 |  |  |  | 63,106 |  |  |  | 63,106 |
Interest expense - borrowings |  |  | 0 |  |  |  | 12,443 |  |  |  | 12,443 |
Provision for credit losses and unfunded loans |  |  | 0 |  |  |  | 9,153 |  |  |  | 9,153 |
Payroll expenses |  |  | 4,950 |  |  |  | 52,351 |  |  |  | 57,301 |
Total consolidated segment expenses |  |  | 4,950 |  |  |  | 137,053 |  |  |  | 142,003 |
Segment profit |  |  | 6,564 |  |  |  | 71,624 |  |  |  | 78,188 |
Reconciliation of expenses |  |  |  |  |  |  |  |  |
Other expenses * |  |  |  |  |  |  |  |  | 54,495 |
Total consolidated expenses |  |  |  |  |  |  |  | $ | 196,498 |
Total consolidated income before taxes |  |  |  |  |  |  |  | $ | 58,698 |
Other segment disclosures |  |  |  |  |  |  |  |  |
Occupancy and equipment |  | $ | 434 |  |  | $ | 14,973 |  |  | $ | 15,407 |
Intangible amortization |  | $ | 60 |  |  | $ | 3,374 |  |  | $ | 3,434 |
For year ended 2022 |  | Trust Segment |  |  | Bank Segment |  |  | Consolidated Segment Totals |
Interest income - loans including fees |  | $ | 0 |  |  | $ | 107,790 |  |  | $ | 107,790 |
Interest income - investments |  |  | 0 |  |  |  | 32,565 |  |  |  | 32,565 |
Trust fees |  |  | 8,460 |  |  |  | 0 |  |  |  | 8,460 |
Retirement plan consulting fees |  |  | 2,567 |  |  |  | 0 |  |  |  | 2,567 |
Total consolidated segment revenues |  |  | 11,027 |  |  |  | 140,355 |  |  |  | 151,382 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |
Other revenues |  |  |  |  |  |  |  |  | 34,906 |
Total consolidated revenues |  |  |  |  |  |  |  | $ | 186,288 |
Interest expense - deposits |  |  | 0 |  |  |  | 13,085 |  |  |  | 13,085 |
Interest expense - borrowings |  |  | 0 |  |  |  | 4,835 |  |  |  | 4,835 |
Provision for credit losses and unfunded loans |  |  | 0 |  |  |  | 1,122 |  |  |  | 1,122 |
Payroll expenses |  |  | 4,746 |  |  |  | 39,913 |  |  |  | 44,659 |
Total consolidated segment expenses |  |  | 4,746 |  |  |  | 58,955 |  |  |  | 63,701 |
Segment profit |  |  | 6,281 |  |  |  | 81,400 |  |  |  | 87,681 |
Reconciliation of expenses |  |  |  |  |  |  |  |  |
Other expenses * |  |  |  |  |  |  |  |  | 49,752 |
Total consolidated expenses |  |  |  |  |  |  |  | $ | 113,453 |
Total consolidated income before taxes |  |  |  |  |  |  |  | $ | 72,835 |
Other segment disclosures |  |  |  |  |  |  |  |  |
Occupancy and equipment |  | $ | 416 |  |  | $ | 10,941 |  |  | $ | 11,357 |
Intangible amortization |  | $ | 75 |  |  | $ | 1,898 |  |  | $ | 1,973 |
* Includes occupancy expenses, FDIC insurance, state and local taxes, professional fees, merger costs, advertising, intangible amortization, core processing charges, charitable donations and other operating expenses. Bank segment includes Farmers Insurance and Investment.

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- Definition The entire disclosure for reporting segments including data and tables. 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