XML 26 R16.htm IDEA: XBRL DOCUMENT v3.19.1

Business Segments

3 Months Ended

Mar. 31, 2019

Business Segments [Abstract]

Business Segments

Note 8 – 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 and other areas within Central Virginia.  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 with servicing released.  Because of the pre-arranged purchase commitments, there is minimal risk to the Company.

Both of the Company’s reportable segments are service based.  The mortgage business is a gain on sale 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 the three months ended March 31, 2019 and 2018 was as follows (dollars in thousands):

Note 8 – Business Segments (continued)










Business Segments

	Community
	Banking		Mortgage		Total
Three months ended March 31, 2019
   Net interest income	$        6,130		$            -		$        6,130
   Provision for loan losses	210		-		210
   Net interest income after provision for loan losses	5,920		-		5,920
   Noninterest income	528		691		1,219
   Noninterest expenses	5,025		574		5,599
   Income before income taxes	1,423		117		1,540
   Income tax expense	281		25		306
     Net income	$        1,142		$          92		$        1,234
     Total assets	$    681,531		$     2,857		$    684,388

Three months ended March 31, 2018
   Net interest income	$        5,331		$            -		$        5,331
   Provision for loan losses	22		-		22
   Net interest income after provision for loan losses	5,309		-		5,309
   Noninterest income	566		620		1,186
   Noninterest expenses	4,604		493		5,097
   Income before income taxes	1,271		127		1,398
   Income tax expense	248		27		275
     Net income	$        1,023		$        100		$        1,123
     Total assets	$    650,068		$     3,567		$    653,635




X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration