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Reportable Segments

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Reportable Segments

NOTE 10 – 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.

		Three months ended													Three months ended
		September 30, 2019													September 30, 2018
		Commercial													Commercial
		and Retail			Mortgage					Elimin-			Consol-		and Retail			Mortgage					Elimin-			Consol-
(dollars in thousands)		Banking			Banking		Corporate			ations			idated		Banking			Banking		Corporate			ation			idated
Interest income		$	23,830		226		4			(4	)		24,056		$	19,775		90		2			(2	)		19,865
Interest expense			6,628		-		153			(4	)		6,777			4,212		-		154			(2	)		4,364
Net interest income (loss)			17,202		226		(149	)		-			17,279			15,563		90		(152	)		-			15,501
Provision for loan losses			650		-		-			-			650			400		-		-			-			400
Noninterest income			1,341		3,055		-			-			4,396			1,179		1,354		-			-			2,533
Noninterest expense			9,529		1,895		60			-			11,484			9,046		1,082		60			-			10,188
Net income (loss) before taxes			8,364		1,386		(209	)		-			9,541			7,296		362		(212	)		-			7,446
Income tax provision (benefit)			1,882		291		(44	)		-			2,129			1,632		76		(44	)		-			1,664
Net income (loss)		$	6,482		1,095		(165	)		-			7,412		$	5,664		286		(168	)		-			5,782
Total assets		$	2,187,449		13,765		234,845			(234,433	)		2,201,626		$	1,847,633		9,649		180,420			(179,995	)		1,857,707
		Nine months ended													Nine months ended
		September 30, 2019													September 30, 2018
		Commercial													Commercial
		and Retail			Mortgage					Elimin-			Consol-		and Retail			Mortgage					Elimin-			Consol-
(dollars in thousands)		Banking			Banking		Corporate			ations			idated		Banking			Banking		Corporate			ations			idated
Interest income		$	68,283		473		9			(9	)		68,756		$	55,290		288		6			(6	)		55,578
Interest expense			18,649		-		480			(9	)		19,120			10,993		-		436			(6	)		11,423
Net interest income (loss)			49,634		473		(471	)		-			49,636			44,297		288		(430	)		-			44,155
Provision for loan losses			1,250		-		-			-			1,250			1,300		-		-			-			1,300
Noninterest income			3,739		7,741		-			-			11,480			3,414		4,311		-			-			7,725
Noninterest expense			28,604		4,716		180			-			33,500			25,982		3,210		180			-			29,372
Net income before taxes			23,519		3,498		(651	)		-			26,366			20,429		1,389		(610	)		-			21,208
Income tax provision (benefit)			5,107		735		(137	)		-			5,705			4,538		292		(128	)		-			4,702
Net income (loss)		$	18,412		2,763		(514	)		-			20,661		$	15,891		1,097		(482	)		-			16,506
Total assets		$	2,187,449		13,765		234,845			(234,433	)		2,201,626		$	1,847,633		9,649		180,420			(179,995	)		1,857,707

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

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://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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