Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2015

SEGMENT REPORTING

Schedule of information about the reportable segments and reconciliation to the consolidated financial statements

	Commercial &
	Retail		Mortgage				Intercompany
(in thousands)	Banking		Banking		Insurance		Eliminations		Consolidated
Revenues:
Interest income	$	8,904	$	978	$	—	$	(95)	$	9,787
Mortgage fee income		(13)		6,551		—		(229)		6,309
Insurance and investment services income		71		—		1,627		—		1,698
Other income		1,937		2,688		—		(1,221)		3,404
Total operating income		10,899		10,217		1,627		(1,545)		21,198
Expenses:
Interest expense		2,042		522		—		(324)		2,240
Salaries and employee benefits		3,757		5,091		886		—		9,734
Provision for loan losses		659		—		—		—		659
Other expense		4,576		1,691		187		(1,221)		5,233
Total operating expenses		11,034		7,304		1,073		(1,545)		17,866
Income (loss) before income taxes		(135)		2,913		554		—		3,332
Income tax expense (benefit)		(97)		1,115		211		—		1,229
Net income (loss)		(38)		1,798		343		—		2,103
Preferred stock dividends		142		—		—		—		142
Net income (loss) available to common shareholders	$	(180)	$	1,798	$	343	$	—	$	1,961
Capital expenditures for the three-month period ended March 31, 2015	$	359	$	28	$	7	$	-	$	394
Total assets as of March 31, 2015		1,345,359		160,054		4,188		(314,628)		1,194,973
Total assets as of December 31, 2014		1,189,746		101,791		4,031		(185,109)		1,110,459
Goodwill as of March 31, 2015		897		16,882		-		-		17,779
Goodwill as of December 31, 2014	$	897	$	16,882	$	-	$	-	$	17,779

	Commercial &
	Retail		Mortgage				Intercompany
(in thousands)	Banking		Banking		Insurance		Eliminations		Consolidated
Revenues:
Interest income	$	7,758	$	680	$	—	$	71	$	8,509
Mortgage fee income		(32)		3,490		—		(248)		3,210
Insurance and investment services income		58		—		958		—		1,016
Other income		2,459		335		—		(63)		2,731
Total operating income		10,243		4,505		958		(240)		15,466
Expenses:
Interest expense		1,347		344		—		(178)		1,513
Salaries and employee benefits		3,030		2,977		790		—		6,797
Provision for loan losses		519		—		—		—		519
Other expense		3,872		1,250		181		(62)		5,241
Total operating expenses		8,768		4,571		971		(240)		14,070
Income (loss) before income taxes		1,475		(66)		(13)		—		1,396
Income tax expense (benefit)		268		(25)		(5)		—		238
Net income (loss)		1,207		(41)		(8)		—		1,158
Preferred stock dividends		21		—		—		—		21
Net income (loss) available to common shareholders	$	1,186	$	(41)	$	(8)	$	—	$	1,137
Capital expenditures for the three-month period ended March 31, 2014	$	1,869	$	117	$	310	$	-	$	2,296
Total assets as of March 31, 2014		1,050,763		86,407		4,059		(143,804)		997,425
Total assets as of December 31, 2013		1,021,097		92,290		3,012		(129,339)		987,060
Goodwill as of March 31, 2014		897		16,882		-		-		17,779
Goodwill as of December 31, 2013	$	897	$	16,882	$	-	$	-	$	17,779