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Segment Reporting

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Corporation has two reporting segments, the Bank and RIG. RIG is managed separately from the banking segment, which includes the Bank and related financial services that the Corporation offers through its banking subsidiary. RIG offers a broad range of property and casualty, life, and health insurance to both commercial and individual clients.

Segment information for the six month periods ended June 30, 2017 and 2016, is as follows:

In thousands		Banking				Insurance				Total
2017
Net interest income and other income from external customers		$	23,215			$	2,692			$	25,907
Income before income taxes		6,675				598				7,273
Total assets		1,252,723				9,213				1,261,936
Capital expenditures		803				—				803
2016
Net interest income and other income from external customers		$	22,289			$	2,431			$	24,720
Income before income taxes		6,939				460				7,399
Total assets		1,159,662				9,448				1,169,110
Capital expenditures		1,687				12				1,699

Segment information for the three month periods ended June 30, 2017 and 2016, is as follows:

In thousands		Banking				Insurance				Total
2017
Net interest income and other income from external customers		$	11,821			$	1,538			$	13,359
Income before income taxes		3,237				488				3,725
Total assets		1,252,723				9,213				1,261,936
Capital expenditures		436				—				436
2016
Net interest income and other income from external customers		$	11,513			$	1,328			$	12,841
Income before income taxes		3,720				309				4,029
Total assets		1,159,662				9,448				1,169,110
Capital expenditures		924				—				924

Intangible assets, representing customer lists, are amortized over 10 years on a straight line basis. Goodwill is not amortized, but rather is analyzed annually for impairment. If certain events occur which might indicate goodwill has been impaired, the goodwill is tested for impairment when such events occur. Tax amortization of goodwill and the intangible assets is deductible for tax purposes.

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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