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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
SEGMENT REPORTING
SEGMENT REPORTING

The Corporation manages its operations through two primary business segments:  core banking and WMG.  The core banking segment provides revenues by attracting deposits from the general public and using such funds to originate consumer, commercial, commercial real estate, and residential mortgage loans, primarily in the Corporation’s local markets and to invest in securities.  The WMG services segment provides revenues by providing trust and investment advisory services to clients.

Accounting policies for the segments are the same as those described in Note 1 of the Corporation’s 2015 Annual Report on Form 10-K, which was filed with the SEC on March 11, 2016. Summarized financial information concerning the Corporation’s reportable segments and the reconciliation to the Corporation’s consolidated results are shown in the following table.  Income taxes are allocated based on the separate taxable income of each entity and indirect overhead expenses are allocated based on reasonable and equitable allocations applicable to the reportable segment.  CFS amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the Holding Company, CFS, and CRM column below, along with amounts to eliminate transactions between those segments (in thousands). CRM was formed during the second quarter of 2016, therefore, is not included within prior year comparative information.
 
 
Three months ended September 30, 2016
 
 
Core Banking
 
WMG
 
Holding Company, CFS, and CRM
 
Consolidated Totals
Interest and dividend income
 
$
14,022

 
$
—

 
$
3

 
$
14,025

Interest expense
 
985

 
—

 
—

 
985

Net interest income
 
13,037

 
—

 
3

 
13,040

Provision for loan losses
 
1,050

 
—

 
—

 
1,050

Net interest income after provision for loan losses
 
11,987

 
—

 
3

 
11,990

Other non-interest income
 
3,240

 
2,027

 
168

 
5,435

Other non-interest expenses
 
11,888

 
1,293

 
290

 
13,471

Income (loss) before income tax expense (benefit)
 
3,339

 
734

 
(119
)
 
3,954

Income tax expense (benefit)
 
974

 
277

 
(42
)
 
1,209

Segment net income (loss)
 
$
2,365

 
$
457

 
$
(77
)
 
$
2,745


 
 
Three months ended September 30, 2015
 
 
Core Banking
 
WMG
 
Holding Company and CFS
 
Consolidated Totals
Interest and dividend income
 
$
13,594

 
$
—

 
$
1

 
$
13,595

Interest expense
 
904

 
—

 
—

 
904

Net interest income
 
12,690

 
—

 
1

 
12,691

Provision for loan losses
 
307

 
—

 
—

 
307

Net interest income after provision for loan losses
 
12,383

 
—

 
1

 
12,384

Other non-interest income
 
2,622

 
2,122

 
168

 
4,912

Other non-interest expenses
 
12,113

 
1,357

 
164

 
13,634

Income (loss) before income tax expense (benefit)
 
2,892

 
765

 
5

 
3,662

Income tax expense (benefit)
 
935

 
292

 
(16
)
 
1,211

Segment net income (loss)
 
$
1,957

 
$
473

 
$
21

 
$
2,451


 
 
Nine months ended September 30, 2016
 
 
Core Banking
 
WMG
 
Holding Company, CFS, and CRM
 
Consolidated Totals
Interest and dividend income
 
$
41,893

 
$
—

 
$
6

 
$
41,899

Interest expense
 
2,866

 
—

 
—

 
2,866

Net interest income
 
39,027

 
—

 
6

 
39,033

Provision for loan losses
 
2,033

 
—

 
—

 
2,033

Net interest income after provision for loan losses
 
36,994

 
—

 
6

 
37,000

Other non-interest income
 
9,516

 
6,240

 
496

 
16,252

Other non-interest expenses
 
37,805

 
4,251

 
993

 
43,049

Income (loss) before income tax expense (benefit)
 
8,705

 
1,989

 
(491
)
 
10,203

Income tax expense (benefit)
 
2,591

 
751

 
(212
)
 
3,130

Segment net income (loss)
 
$
6,114

 
$
1,238

 
$
(279
)
 
$
7,073

 
 
 
 
 
 
 
 
 
Segment assets
 
$
1,721,739

 
$
4,398

 
$
2,728

 
$
1,728,865


 
 
Nine months ended September 30, 2015
 
 
Core Banking
 
WMG
 
Holding Company And CFS
 
Consolidated Totals
Interest and dividend income
 
$
40,344

 
$
—

 
$
4

 
$
40,348

Interest expense
 
2,668

 
—

 
—

 
2,668

Net interest income
 
37,676

 
—

 
4

 
37,680

Provision for loan losses
 
956

 
—

 
—

 
956

Net interest income after provision for loan losses
 
36,720

 
—

 
4

 
36,724

Other non-interest income
 
8,261

 
6,446

 
717

 
15,424

Other non-interest expenses
 
36,388

 
4,051

 
754

 
41,193

Income (loss) before income tax expense (benefit)
 
8,593

 
2,395

 
(33
)
 
10,955

Income tax expense (benefit)
 
2,798

 
915

 
(62
)
 
3,651

Segment net income
 
$
5,795

 
$
1,480

 
$
29

 
$
7,304

 
 
 
 
 
 
 
 
 
Segment assets
 
$
1,626,100

 
$
4,392

 
$
1,147

 
$
1,631,639