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Segment Reporting

3 Months Ended

Mar. 31, 2020

Segment Reporting Disclosure Of Entitys Reportable Segments [Abstract]

Segment Reporting

13. SEGMENT REPORTING

Under ASC Topic 280, Segment Reporting, certain information is disclosed for the two reportable operating segments of Bancshares: the Bank and ALC. The reportable segments were determined using the internal management reporting system. These segments comprise Bancshares’ and the Bank’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2019. The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below.

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended March 31, 2020:
Net interest income		$	6,480			$	2,400			$	6			$	—			$	8,886
Provision for loan losses			248				332				—				—				580
Total non-interest income			1,094				237				1,234				(1,268	)			1,297
Total non-interest expense			6,156				2,169				356				(187	)			8,494
Income before income taxes			1,170				136				884				(1,081	)			1,109
Provision for income taxes			274				51				(63	)			—				262
Net income		$	896			$	85			$	947			$	(1,081	)		$	847
Other significant items:
Total assets		$	791,302			$	61,503			$	89,897			$	(154,137	)		$	788,565
Total investment securities			109,998				—				81				—				110,079
Total loans, net			535,188				58,074				—				(53,577	)			539,685
Goodwill and core deposit intangible, net			8,715				—				—				—				8,715
Investment in subsidiaries			—				—				83,680				(83,680	)			—
Fixed asset additions			219				14				—				—				233
Depreciation and amortization expense			366				33				—				—				399
Total interest income from external customers			7,257				3,140				—				—				10,397
Total interest income from affiliates			740				—				6				(746	)			—

										All
		Bank				ALC				Other				Eliminations				Consolidated
		(Dollars in Thousands)
As of and for the three months ended March 31, 2019:
Net interest income		$	6,009			$	3,158			$	6			$	—			$	9,173
Provision for loan losses			—				400				—				—				400
Total non-interest income			1,078				219				1,581				(1,613	)			1,265
Total non-interest expense			5,833				2,368				427				(175	)			8,453
Income before income taxes			1,254				609				1,160				(1,438	)			1,585
Provision for income taxes			262				143				(54	)			—				351
Net income		$	992			$	466			$	1,214			$	(1,438	)		$	1,234
Other significant items:
Total assets		$	796,876			$	102,780			$	86,977			$	(191,299	)		$	795,334
Total investment securities			147,947				—				78				—				148,025
Total loans, net			492,895				98,902				—				(89,037	)			502,760
Goodwill and core deposit intangible, net			9,184				—				—				—				9,184
Investment in subsidiaries			5				—				81,236				(81,236	)			5
Fixed asset additions			1,677				14				—				—				1,691
Depreciation and amortization expense			367				33				—				—				400
Total interest income from external customers			6,493				4,319				1				—				10,813
Total interest income from affiliates			1,161				—				5				(1,166	)			—

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- References

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

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