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Segment Reporting | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Segment Reporting | Note 13 – Segment Reporting Currently, the Corporation conducts business in two operating segments: (i) Community Banking and (ii) Trust and Investment Services. The accounting policies of the segments are the same as those described in the summary of significant accounting policies provided earlier in this report. Business activity for the operating segments are as follows: Community Banking: The Community Banking segment is conducted through the Bank and involves delivering a broad range of financial products and services, including various loan and deposit products, to consumer, business, and not-for-profit customers. Parent company income and assets are included in the Community Banking segment, as the majority of parent company functions are related to this segment. Major revenue sources include net interest income, gains on sales of mortgage loans, and service charges on deposit accounts. Expenses include personnel, occupancy, marketing, equipment, and other expenses. Non-cash charges other than depreciation of fixed assets were immaterial for the nine and three months ended September 30, 2023 and 2022. Trust and Investment Services: The Trust and Investment Services segment is conducted through the Bank and offers corporate trustee services, trust and estate administration, IRA administration and custody services. Revenues for this segment is generated from administration, service and custody fees, as well as management fees that are derived from Assets Under Management. Expenses include personnel, occupancy, marketing, equipment, and other expenses. Non-cash charges associated with amortization of intangibles were approximately $156,000 for both of the nine-month periods ended September 30, 2023 and 2022 and $52,000 for both of the three-month periods ended September 30, 2023 and 2022. ​ ​ ​ ​ ​ Information for the operating segments for the nine- and three-month periods ended September 30, 2023 are presented in the following tables: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Nine Months Ended
​ | ​ | ​ | ​ | September 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Trust and | ​ | ​
​ | ​ | ​ | ​ | Community | ​ | Investment | ​ | ​
(in thousands) | ​ | ​ | ​ | Banking | ​ | Services | ​ | Total
Interest income | ​ | ​ | $ | 58,965 | $ | - | $ | 58,965
Interest expense | ​ | ​ | ​ | 16,289 | ​ | - | ​ | 16,289
Credit loss expense | ​ | ​ | ​ | 1,201 | ​ | - | ​ | 1,201
Non-interest income | ​ | ​ | ​ | 6,927 | ​ | 6,933 | ​ | 13,860
Non-interest expense | ​ | ​ | ​ | 34,070 | ​ | 3,864 | ​ | 37,934
Income before income taxes and intercompany fees | ​ | ​ | ​ | 14,332 | ​ | 3,069 | ​ | 17,401
Intercompany management fee income (expense) | ​ | ​ | ​ | 9 | ​ | (9) | ​ | -
Income before income taxes | ​ | ​ | ​ | 14,341 | ​ | 3,060 | ​ | 17,401
Income tax expense | ​ | ​ | ​ | 3,456 | ​ | 643 | ​ | 4,099
Net income | ​ | ​ | $ | 10,885 | $ | 2,417 | $ | 13,302
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Nine months ended
​ | ​ | ​ | ​ | September 30, 2022
​ | ​ | ​ | ​ | ​ | ​ | Trust and | ​ | ​
​ | ​ | ​ | ​ | Community | ​ | Investment | ​ | ​
(in thousands) | ​ | ​ | ​ | Banking | ​ | Services | ​ | Total
Interest income | ​ | ​ | $ | 45,063 | $ | - | $ | 45,063
Interest expense | ​ | ​ | ​ | 2,610 | ​ | - | ​ | 2,610
Credit loss expense | ​ | ​ | ​ | 109 | ​ | - | ​ | 109
Non-interest income | ​ | ​ | ​ | 6,517 | ​ | 7,043 | ​ | 13,560
Non-interest expense | ​ | ​ | ​ | 28,007 | ​ | 3,532 | ​ | 31,539
Income before income taxes and intercompany fees | ​ | ​ | ​ | 20,854 | ​ | 3,511 | ​ | 24,365
Intercompany management fee income (expense) | ​ | ​ | ​ | - | ​ | - | ​ | -
Income before income taxes | ​ | ​ | ​ | 20,854 | ​ | 3,511 | ​ | 24,365
Income tax expense | ​ | ​ | ​ | 5,549 | ​ | 737 | ​ | 6,286
Net income | ​ | ​ | $ | 15,305 | $ | 2,774 | $ | 18,079
​ ​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | ​ | September 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Trust and | ​ | ​
​ | ​ | ​ | ​ | Community | ​ | Investment | ​ | ​
(in thousands) | ​ | ​ | ​ | Banking | ​ | Services | ​ | Total
Interest income | ​ | ​ | $ | 21,164 | $ | - | $ | 21,164
Interest expense | ​ | ​ | ​ | 7,180 | ​ | - | ​ | 7,180
Credit loss expense | ​ | ​ | ​ | 263 | ​ | - | ​ | 263
Non-interest income | ​ | ​ | ​ | 2,515 | ​ | 2,383 | ​ | 4,898
Non-interest expense | ​ | ​ | ​ | 11,507 | ​ | 1,278 | ​ | 12,785
Income before income taxes and intercompany fees | ​ | ​ | ​ | 4,729 | ​ | 1,105 | ​ | 5,834
Intercompany management fee income (expense) | ​ | ​ | ​ | 3 | ​ | (3) | ​ | -
Income before income taxes | ​ | ​ | ​ | 4,732 | ​ | 1,102 | ​ | 5,834
Income tax expense | ​ | ​ | ​ | 1,090 | ​ | 231 | ​ | 1,321
Net income | ​ | ​ | $ | 3,642 | $ | 871 | $ | 4,513
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | ​ | September 30, 2022
​ | ​ | ​ | ​ | ​ | ​ | Trust and | ​ | ​
​ | ​ | ​ | ​ | Community | ​ | Investment | ​ | ​
(in thousands) | ​ | ​ | ​ | Banking | ​ | Services | ​ | Total
Interest income | ​ | ​ | $ | 16,185 | $ | - | $ | 16,185
Interest expense | ​ | ​ | ​ | 1,044 | ​ | - | ​ | 1,044
Credit loss credit | ​ | ​ | ​ | (101) | ​ | - | ​ | (101)
Non-interest income | ​ | ​ | ​ | 2,423 | ​ | 2,277 | ​ | 4,700
Non-interest expense | ​ | ​ | ​ | 9,208 | ​ | 1,121 | ​ | 10,329
Income before income taxes and intercompany fees | ​ | ​ | ​ | 8,457 | ​ | 1,156 | ​ | 9,613
Intercompany management fee income (expense) | ​ | ​ | ​ | - | ​ | - | ​ | -
Income before income taxes | ​ | ​ | ​ | 8,457 | ​ | 1,156 | ​ | 9,613
Income tax expense | ​ | ​ | ​ | 2,434 | ​ | 243 | ​ | 2,677
Net income | ​ | ​ | $ | 6,023 | $ | 913 | $ | 6,936
​ Total non-fiduciary assets of the trust and investment services segment were $0.8 million (including $0.7 million in intangible assets) at September 30, 2023 and $0.9 million (including $0.8 million in intangible assets) at December 31, 2022.

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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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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