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Reportable Segments

12 Months Ended

Dec. 31, 2018

Reportable Segments [Abstract]

Reportable Segments

NOTE 23 – Reportable Segments

The Company’s reportable segments represent the distinct product lines the Company offers and are viewed separately for strategic planning purposes by management. The three segments include Commercial and Retail Banking, Mortgage Banking, and Corporate. The following schedule presents financial information for each reportable segment.

		Year ended December 31, 2018
		Commercial
		and Retail			Mortgage
(dollars in thousands)		Banking			Banking		Corporate			Eliminations			Consolidated
Interest income		$	76,282		375		9			(9	)		76,657
Interest expense			15,922		-		592			(9	)		16,505
Net interest income (loss)			60,360		375		(583	)		-			60,152
Provision for loan losses			1,900		-		-			-			1,900
Noninterest income			4,657		5,544		-			-			10,201
Noninterest expense			35,371		4,152		240			-			39,763
Net income (loss) before taxes			27,746		1,767		(823	)		-			28,690
Income tax provision (benefit)			6,185		389		(173	)		-			6,401
Net income (loss)		$	21,561		1,378		(650	)		-			22,289
Total assets		$	1,905,474		8,602		187,327			(200,789	)		1,900,614
		Year ended December 31, 2017
		Commercial
		and Retail			Mortgage
		Banking			Banking		Corporate			Eliminations			Consolidated
Interest income		$	60,895		314		11			(11	)		61,209
Interest expense			9,830		-		514			(11	)		10,333
Net interest income (loss)			51,065		314		(503	)		-			50,876
Provision for loan losses			2,000		-		-			-			2,000
Noninterest income			4,185		5,152		-			-			9,337
Noninterest expense			30,568		3,738		246			-			34,552
Net income (loss) before taxes			22,682		1,728		(749	)		-			23,661
Income tax expense (benefit)			10,239		639		(262	)		-			10,616
Net income (loss)		$	12,443		1,089		(487	)		-			13,045
Total assets		$	1,615,960		8,230		163,095			(162,660	)		1,624,625

Commercial and retail banking. The Company’s primary business is to provide traditional deposit and lending products and services to its commercial and retail banking clients.

Mortgage banking. The mortgage banking segment provides mortgage loan origination services for loans that will be sold in the secondary market to investors.

Corporate. Corporate is comprised primarily of compensation and benefits for certain members of management and interest on parent company debt.

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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