Segment Reporting |
Note 17. Segment Reporting The Corporation’s reportable segments are determined by the Chief Operating Officer of the Bank, who is the designated chief operating decision maker (CODM), based upon information provided about the Corporation’s products and services offered primarily between community banking and wealth management segments. The segments are also distinguished by the level of information provided to the CODM, who uses such information to review the performance of various components of the business, which are then aggregated if operating performance, products/services, and customer are similar. The CODM evaluates the financial performance of the Corporation’s business segments by evaluating revenue streams, significant expenses, and budget to actual results to assess the performance of the segments and to determine allocation of resources. This evaluation is also used to assess the performance of each segment to evaluate compensation of certain employees. Segment pretax profit or loss is used to assess the performance of the community banking segment by monitoring net interest income, fee income and noninterest expense. In this segment, interest income on loans and securities, and banking service fees are the primary source of revenue. Interest expense, the provision for credit losses, and salaries and benefits are the primary expenses. Segment pretax profit or loss is used to assess the performance of the wealth management segment by monitoring fee income and operating expense, and by assets under management. In this segment, fees from assets under management are the primary source of revenue, while salaries and benefits are the primary expense.
The following table presents the reportable segments for the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, 2025 | | June 30, 2025 | | | Reportable Segments | | | | | Reportable Segments | | | | (Dollars in thousands) | | Wealth | | Community Banking | | Consolidated Total | | Wealth | | Community Banking | | Consolidated Total | | | | | | | | | | | | | | | | | | | | Interest income - loans, including fees | | $ | — | | $ | 21,425 | | $ | 21,425 | | $ | — | | $ | 41,289 | | $ | 41,289 | Interest income - investments | | | — | | | 4,982 | | | 4,982 | | | — | | | 10,268 | | | 10,268 | Interest income - interest-earning deposits in other banks | | | — | | | 2,193 | | | 2,193 | | | — | | | 4,101 | | | 4,101 | Wealth fee income | | | 2,419 | | | — | | | 2,419 | | | 4,633 | | | — | | | 4,633 | Total segment income | | $ | 2,419 | | $ | 28,600 | | $ | 31,019 | | $ | 4,633 | | $ | 55,658 | | $ | 60,291 | | | | | | | | | | | | | | | | | | | | Reconciliation of revenue | | | | | | | | | | | | | | | | | | | Other revenue - not allocated to a segment | | | | | | | | | 2,684 | | | | | | | | | 5,031 | Total consolidated revenue | | | | | | | | $ | 33,703 | | | | | | | | $ | 65,322 | | | | | | | | | | | | | | | | | | | | Less: | | | | | | | | | | | | | | | | | | | Interest expense - deposits | | $ | — | | $ | 8,918 | | $ | 8,918 | | $ | — | | $ | 17,948 | | $ | 17,948 | Interest expense - other borrowings | | | — | | | 2,181 | | | 2,444 | | | — | | | 4,339 | | | 4,867 | Provision for credit losses | | | — | | | 635 | | | 635 | | | — | | | 1,414 | | | 1,414 | Salary and benefit expense | | | 1,040 | | | 7,824 | | | 8,864 | | | 2,061 | | | 15,309 | | | 17,370 | Segment profit | | $ | 1,040 | | $ | 19,558 | | $ | 20,861 | | $ | 2,061 | | $ | 39,010 | | $ | 41,599 | | | | | | | | | | | | | | | | | | | | Other expenses - not allocated to a segment | | | | | | | | | 5,525 | | | | | | | | | 11,595 | | | | | | | | | | | | | | | | | | | | Income before taxes | | | | | | | | $ | 7,317 | | | | | | | | $ | 12,128 | | | | | | | | | | | | | | | | | | | | Other segment disclosures | | | | | | | | | | | | | | | | | | | Net occupancy | | $ | 126 | | $ | 1,020 | | $ | 1,146 | | $ | 264 | | $ | 2,107 | | $ | 2,371 | Data processing | | $ | 42 | | $ | 1,472 | | $ | 1,514 | | $ | 87 | | $ | 2,984 | | $ | 3,071 | | | | | | | | | | | | | | | | | | | | Total assets for reportable segments | | $ | 1,461 | | $ | 2,285,702 | | $ | 2,286,745 | | $ | 1,461 | | $ | 2,285,702 | | $ | 2,286,745 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended | | For the Six Months Ended | | | June 30, 2024 | | June 30, 2024 | | | Reportable Segments | | | | | Reportable Segments | | | | (Dollars in thousands) | | Wealth | | Community Banking | | Consolidated Total | | Wealth | | Community Banking | | Consolidated Total | | | | | | | | | | | | | | | | | | | | Interest income - loans, including fees | | $ | — | | $ | 18,059 | | $ | 18,059 | | $ | — | | $ | 35,281 | | $ | 35,281 | Interest income - investments | | | — | | | 4,380 | | | 4,380 | | | — | | | 8,613 | | | 8,613 | Interest income - interest-earning deposits in other banks | | | — | | | 2,293 | | | 2,293 | | | — | | | 4,647 | | | 4,647 | Wealth fee income | | | 2,242 | | | — | | | 2,242 | | | 4,269 | | | — | | | 4,269 | Total segment income | | $ | 2,242 | | $ | 24,732 | | $ | 26,974 | | $ | 4,269 | | $ | 48,541 | | $ | 52,810 | | | | | | | | | | | | | | | | | | | | Reconciliation of revenue | | | | | | | | | | | | | | | | | | | Other revenue - not allocated to a segment | | | | | | | | | 2,108 | | | | | | | | | 4,269 | Total consolidated revenue | | | | | | | | $ | 29,082 | | | | | | | | $ | 57,079 | | | | | | | | | | | | | | | | | | | | Less: | | | | | | | | | | | | | | | | | | | Interest expense - deposits | | $ | — | | $ | 7,018 | | $ | 7,018 | | $ | — | | $ | 13,522 | | $ | 13,522 | Interest expense - other borrowings | | | — | | | 3,242 | | | 3,503 | | | — | | | 6,729 | | | 7,254 | Provision for credit losses | | | — | | | 546 | | | 546 | | | — | | | 998 | | | 998 | Salary and benefit expense | | | 975 | | | 7,430 | | | 8,405 | | | 1,922 | | | 14,210 | | | 16,132 | Segment profit | | $ | 975 | | $ | 18,236 | | $ | 19,472 | | $ | 1,922 | | $ | 35,459 | | $ | 37,906 | | | | | | | | | | | | | | | | | | | | Other expenses - not allocated to a segment | | | | | | | | | 5,931 | | | | | | | | | 11,510 | | | | | | | | | | | | | | | | | | | | Income before taxes | | | | | | | | $ | 3,679 | | | | | | | | $ | 7,663 | | | | | | | | | | | | | | | | | | | | Other segment disclosures | | | | | | | | | | | | | | | | | | | Net occupancy | | $ | 140 | | $ | 1,009 | | $ | 1,149 | | $ | 270 | | $ | 2,061 | | $ | 2,331 | Data processing | | $ | 57 | | $ | 1,402 | | $ | 1,459 | | $ | 116 | | $ | 2,766 | | $ | 2,882 | | | | | | | | | | | | | | | | | | | | Total assets for reportable segments | | $ | 1,549 | | $ | 2,037,744 | | $ | 2,039,126 | | $ | 1,549 | | $ | 2,037,744 | | $ | 2,039,126 |
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