XML 32 R20.htm IDEA: XBRL DOCUMENT v3.21.2
SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2021
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 2020 Annual Report on Form 10-K, which was filed with the SEC on March 24, 2021. 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.The Holding Company, CFS, and CRM column below includes amounts to eliminate transactions between segments (in thousands).
 Three months ended June 30, 2021
 Core BankingWMGHolding Company, CFS, and CRMConsolidated Totals
Interest and dividend income$16,936 $— $9 $16,945 
Interest expense866 — — 866 
Net interest income16,070 — 9 16,079 
Provision for loan losses(150)— — (150)
Net interest income after provision for loan losses16,220 — 9 16,229 
Other non-interest income3,459 2,803 230 6,492 
Other non-interest expenses11,844 1,619 388 13,851 
Income (loss) before income tax expense (benefit)7,835 1,184 (149)8,870 
Income tax expense (benefit)1,802 316 (43)2,075 
Segment net income (loss)$6,033 $868 $(106)$6,795 

 Three months ended June 30, 2020
 Core BankingWMGHolding Company, CFS, and CRMConsolidated Totals
Interest and dividend income$16,459 $— $13 $16,472 
Interest expense881 — — 881 
Net interest income15,578 — 13 15,591 
Provision for loan losses260 — — 260 
Net interest income after provision for loan losses15,318 — 13 15,331 
Other non-interest income2,612 2,323 145 5,080 
Other non-interest expenses11,279 1,647 301 13,227 
Income (loss) before income tax expense (benefit)6,651 676 (143)7,184 
Income tax expense (benefit)1,223 173 (39)1,357 
Segment net income (loss)$5,428 $503 $(104)$5,827 


 Six months ended June 30, 2021
 Core BankingWMGHolding Company, CFS, and CRMConsolidated Totals
Interest and dividend income$33,671 $— $14 $33,685 
Interest expense1,820 — — 1,820 
Net interest income31,851 — 14 31,865 
Provision for loan losses(409)— — (409)
Net interest income after provision for loan losses32,260 — 14 32,274 
Other non-interest income6,150 5,481 482 12,113 
Other non-interest expenses23,277 3,270 657 27,204 
Income (loss) before income tax expense (benefit)15,133 2,211 (161)17,183 
Income tax expense (benefit)3,331 579 (52)3,858 
Segment net income (loss)$11,802 $1,632 $(109)$13,325 
Segment assets$2,369,856 $3,201 $7,655 $2,380,712 
 Six months ended June 30, 2020
 Core BankingWMGHolding Company, CFS, and CRMConsolidated Totals
Interest and dividend income$32,826 $— $30 $32,856 
Interest expense2,203 — — $2,203 
Net interest income30,623 — 30 30,653 
Provision for loan losses3,310 — — 3,310 
Net interest income after provision for loan losses27,313 — 30 27,343 
Other non-interest income4,976 4,552 282 9,810 
Other non-interest expenses23,161 3,249 566 26,976 
Income (loss) before income tax expense (benefit)9,128 1,303 (254)10,177 
Income tax expense (benefit)1,613 334 (88)1,859 
Segment net income (loss)$7,515 $969 $(166)$8,318 
Segment assets$2,040,937 $3,063 $6,921 $2,050,921