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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2017
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 2016 Annual Report on Form 10-K, which was filed with the SEC on March 8, 2017. 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).
|  | Three months ended September 30, 2017
|  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM |  | Consolidated Totals
Interest and dividend income |  | $ | 15,487 |  |  | $ | — |  |  | $ | 10 |  |  | $ | 15,497 |
Interest expense |  | 734 |  |  | — |  |  | — |  |  | 734 |
Net interest income |  | 14,753 |  |  | — |  |  | 10 |  |  | 14,763 |
Provision for loan losses |  | 1,289 |  |  | — |  |  | — |  |  | 1,289 |
Net interest income after provision for loan losses |  | 13,464 |  |  | — |  |  | 10 |  |  | 13,474 |
Other non-interest income |  | 2,989 |  |  | 2,147 |  |  | 30 |  |  | 5,166 |
Legal accruals and settlements |  | — |  |  | — |  |  | — |  |  | — |
Other non-interest expenses |  | 11,651 |  |  | 1,370 |  |  | 255 |  |  | 13,276 |
Income (loss) before income tax expense (benefit) |  | 4,802 |  |  | 777 |  |  | (215 | ) |  | 5,364 |
Income tax expense (benefit) |  | 1,457 |  |  | 295 |  |  | (42 | ) |  | 1,710 |
Segment net income (loss) |  | $ | 3,345 |  |  | $ | 482 |  |  | $ | (173 | ) |  | $ | 3,654 |
|  | 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 |
Legal accruals and settlements |  | — |  |  | — |  |  | — |  |  | — |
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 |
|  | Nine months ended September 30, 2017
|  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM |  | Consolidated Totals
Interest and dividend income |  | $ | 44,478 |  |  | $ | — |  |  | $ | 17 |  |  | $ | 44,495 |
Interest expense |  | 2,288 |  |  | — |  |  | — |  |  | 2,288 |
Net interest income |  | 42,190 |  |  | — |  |  | 17 |  |  | 42,207 |
Provision for loan losses |  | 2,750 |  |  | — |  |  | — |  |  | 2,750 |
Net interest income after provision for loan losses |  | 39,440 |  |  | — |  |  | 17 |  |  | 39,457 |
Other non-interest income |  | 8,228 |  |  | 6,525 |  |  | 282 |  |  | 15,035 |
Legal settlements |  | 850 |  |  | — |  |  | — |  |  | 850 |
Other non-interest expenses |  | 34,795 |  |  | 4,142 |  |  | 866 |  |  | 39,803 |
Income (loss) before income tax expense (benefit) |  | 12,023 |  |  | 2,383 |  |  | (567 | ) |  | 13,839 |
Income tax expense (benefit) |  | 3,523 |  |  | 904 |  |  | (177 | ) |  | 4,250 |
Segment net income (loss) |  | $ | 8,500 |  |  | $ | 1,479 |  |  | $ | (390 | ) |  | $ | 9,589 |
Segment assets |  | $ | 1,721,571 |  |  | $ | 4,112 |  |  | $ | 5,999 |  |  | $ | 1,731,682 |
|  | 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 |
Legal accruals and settlements |  | 1,200 |  |  | — |  |  | — |  |  | 1,200 |
Other non-interest expenses |  | 36,605 |  |  | 4,251 |  |  | 993 |  |  | 41,849 |
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 |

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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 + Details
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