XML 39 R24.htm IDEA: XBRL DOCUMENT v3.25.1
Note 16 - Segment Information
 3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

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 the Financial Statement Notes.  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:

 

  

Trust

  

Bank

  

Consolidated

 

(In Thousands of Dollars)

 

Segment

  

Segment

  

Segment totals

 

March 31, 2025

            

Total assets for reportable segments

 $16,193  $5,141,947  $5,158,140 

Eliminations and other

          (1,100)

Total consolidated assets

         $5,157,040 

 

  

Trust

  

Bank

  

Consolidated

 

(In Thousands of Dollars)

 

Segment

  

Segment

  

Segment totals

 

December 31, 2024

            

Total assets for reportable segments

 $17,204  $5,104,012  $5,121,216 

Eliminations and other

          (2,292)

Total consolidated assets

         $5,118,924 

 

  

Trust

  

Bank

  

Consolidated

 

(In Thousands of Dollars)

 

Segment

  

Segment

  

Segment totals

 

For Three Months Ended March 31, 2025

            

Interest income - loans including fees

 $0  $46,707  $46,707 

Interest income - investments

  0   9,514   9,514 

Trust fees

  2,641   0   2,641 

Retirement plan consulting fees

  798   0   798 

Total consolidated segment revenues

  3,439   56,221   59,660 

Reconciliation of revenue

            

Other revenues

          8,126 

Total consolidated revenues

          67,786 
             

Interest expense - deposits

  0   19,717   19,717 

Interest expense - borrowings

  0   3,393   3,393 

Credir for credit losses and unfunded loans

  0   (204)  (204)

Payroll expenses

  1,474   14,681   16,155 

Total consolidated segment expenses

  1,474   37,587   39,061 
             

Segment profit

  1,965   18,634   20,599 

Reconciliation of expenses

            

Other expenses *

          12,371 

Total consolidated expenses

          51,432 
             

Total consolidated income before taxes

         $16,354 

Other segment disclosures

            

Occupancy and equipment

  143   3,983   4,126 

Intangible amortization

  23   712   735 

 

  

Trust

  

Bank

  

Consolidated

 

(In Thousands of Dollars)

 

Segment

  

Segment

  

Segment totals

 

For Three Months Ended March 31, 2024

            

Interest income - loans including fees

 $0  $45,016  $45,016 

Interest income - investments

  0   9,002   9,002 

Trust fees

  2,510   0   2,510 

Retirement plan consulting fees

  617   0   617 

Total consolidated segment revenues

  3,127   54,018   57,145 

Reconciliation of revenue

            

Other revenues

          6,266 

Total consolidated revenues

          63,411 
             

Interest expense - deposits

  0   18,390   18,390 

Interest expense - borrowings

  0   4,977   4,977 

Provision for credit losses and unfunded loans

  0   (449)  (449)

Payroll expenses

  1,361   13,694   15,055 

Total consolidated segment expenses

  1,361   36,612   37,973 
             

Segment profit

  1,766   17,406   19,172 

Reconciliation of expenses

            

Other expenses *

          11,984 

Total consolidated expenses

          49,957 
             

Total consolidated income before taxes

         $13,454 

Other segment disclosures

            

Occupancy and equipment

  99   3,624   3,723 

Intangible amortization

  12   676   688 

 

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