XML 33 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Business Segments
 12 Months Ended
Dec. 31, 2017
Business Segments [Abstract]  
Business Segments

Note 9  – Business Segments

The Company has two reportable business segments: (i) a traditional full service community banking segment and, (ii) a mortgage loan origination business.  The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000.  The mortgage segment provides a variety of mortgage loan products principally within Region 2000.  Mortgage loans are originated and sold in the secondary market through purchase commitments from investors.  Because of the pre-arranged purchase commitments, there is minimal risk to the Company.



Note 9 – Business Segments (continued)

Both of the Company’s reportable segments are service based.  The mortgage business is a fee-based business while the Bank’s primary source of revenue is net interest income.  The Bank also provides a referral network for

the mortgage origination business.  The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate.

Information about reportable business segments and reconciliation of such information to the consolidated financial statements for years ended December 31, 2017 and 2016 was as follows:





 

 

 

 

 

Business Segments

 

 

 

 

 



 

 

 

 

 



Community

 

 

 

 



Banking

 

Mortgage

 

Total

For the year ended December 31, 2017

 

 

 

 

 

   Net interest income

$       20,672

 

$            -

 

$      20,672

   Provision for loan losses

 993 

 

 -

 

 993 

   Net interest income after provision for loan losses

 19,679 

 

 -

 

 19,679 

   Noninterest income

 2,293 

 

 2,434 

 

 4,727 

   Noninterest expenses

 17,127 

 

 1,919 

 

 19,046 

   Income before income taxes

 4,845 

 

 515 

 

 5,360 

   Income tax expense

 2,263 

 

 175 

 

 2,438 

     Net income

$         2,582

 

$        340

 

$        2,922

     Total assets

$     623,547

 

$     2,794

 

$    626,341



 

 

 

 

 

For the year ended December 31, 2016

 

 

 

 

 

   Net interest income

$       19,224

 

$            -

 

$      19,224

   Provision for loan losses

 1,612 

 

 -

 

 1,612 

   Net interest income after provision for loan losses

 17,612 

 

 -

 

 17,612 

   Noninterest income

 2,338 

 

 2,457 

 

 4,795 

   Noninterest expenses

 15,695 

 

 1,899 

 

 17,594 

   Income before income taxes

 4,255 

 

 558 

 

 4,813 

   Income tax expense

 1,337 

 

 190 

 

 1,527 

     Net income

$         2,918

 

$        368

 

$        3,286

     Total assets

$     570,181

 

$     4,014

 

$    574,195