Segment Information

6 Months Ended

Jun. 30, 2011

Segment Information [Abstract]

Segment Information

Note E  Segment Information

The Bank has determined that it has four primary business segments, its banking franchise, its insurance activities, its employee benefit consulting activities and risk management activities.  For the three months and six months ended June 30, 2011 and 2010, the Bank’s insurance activities consisted of those conducted through its wholly owned subsidiary, Bailey & Haskell Associates, Inc. The Bank’s benefit consulting activities consisted of those conducted through its wholly owned subsidiary Benefit Consulting Group, Inc. The risk management activities consisted of those conducted through its wholly owned subsidiary Workplace Health Solutions Inc.  Information about the Bank’s segments is presented in the following table for the periods indicated:

	Three Months Ended June 30, 2011
	Banking Activities		Insurance Activities		Benefit Consulting Activities		Risk Management Activities		Total
	(In thousands)
Net interest income	$	5,013	$	-	$	-	$	-	$	$5,013
Provision for loan losses		550		-		-		-		550
Net interest income after provision for loan losses		4,463		-		-		-		4,463
Investment gains, net		409		-		-		-		409
Non-interest income		1,222		2,993		1,770		321		6,306
Non-interest expenses		4,126		2,601		1,295		320		8,342
Depreciation and amortization		373		42		24		-		439
Income before income taxes		1,595		350		451		1		2,397
Income tax expense		301		150		186		-		637
Net income		1,294		200		265		1		1,760
Less: net income attributable to
noncontrolling interest		64		-		-		-		64
Net income attributable to Oneida
Financial Corp.	$	1,230	$	200	$	265	$	1	$	1,696
Total Assets	$	638,577	$	18,592	$	4,957	$	217	$	662,343

	Three Months Ended June 30, 2010
	Banking Activities			Insurance Activities		Benefit Consulting Activities		Risk Management Activities			Total
	(In thousands)
Net interest income	$	4,448		$	-	$	-	$	-		$	4,448
Provision for loan losses		300			-		-		-			300
Net interest income after provision for loan losses		4,148			-		-		-			4,148
Investment losses, net		(482	)		-		-		-			(482	)
Non-interest income		1,271			2,591		1,590		254			5,706
Non-interest expenses		4,038			2,312		1,159		268			7,777
Depreciation and amortization		410			44		31		-			485
Income (loss) before income taxes		489			235		400		(14	)		1,110
Income tax (benefit) expense		(30	)		103		166		(6	)		233
Net income (loss)		519			132		234		(8	)		877
Less: net income attributable to
noncontrolling interest		63			-		-		-			63
Net income (loss) attributable to Oneida
Financial Corp.	$	456		$	132	$	234	$	( 8	)	$	814
Total Assets	$	595,476		$	17,219	$	5,029	$	142		$	617,866

	Six Months Ended June 30, 2011
	Banking Activities		Insurance Activities		Benefit Consulting Activities		Risk Management Activities			Total
	(In thousands)
Net interest income	$	9,852	$	-	$	-	$	-		$	9,852
Provision for loan losses		950		-		-		-			950
Net interest income after provision for loan losses		8,902		-		-		-			8,902
Investment gains, net		615		-		-		-			615
Non-interest income		2,314		6,225		3,181		623			12,343
Non-interest expenses		8,343		5,161		2,562		627			16,693
Depreciation and amortization		755		87		50		1			893
Income (loss) before income taxes		2,733		977		569		(5	)		4,274
Income tax expense (benefit)		382		422		235		(2	)		1,037
Net income (loss)		2,351		555		334		(3	)		3,237
Less: net income attributable to
noncontrolling interest		128		-		-		-			128
Net income (loss) attributable to Oneida
Financial Corp.	$	2,223	$	555	$	334	$	(3	)	$	3,109
Total Assets	$	638,577	$	18,592	$	4,957	$	217		$	662,343

	Six Months Ended June 30, 2010
	Banking Activities			Insurance Activities		Benefit Consulting Activities			Risk Management Activities			Total
	(In thousands)
Net interest income	$	8,729		$	-	$	-		$	-		$	8,729
Provision for loan losses		700			-		-			-			700
Net interest income after provision for loan losses		8,029			-		-			-			8,029
Investment losses, net		(1,024	)		-		-			-			(1,024	)
Non-interest income		2,438			5,612		3,030			455			11,535
Non-interest expenses		8,213			4,556		2,300			477			15,546
Depreciation and amortization		842			90		62			1			995
Income (loss) before income taxes		388			966		668			(23	)		1,999
Income tax (benefit) expense		(259	)		421		276			(9	)		429
Net income (loss)		647			545		392	(14)		1,570
Less: net income attributable to
noncontrolling interest		128			-		-			-			128
Net income (loss) attributable to Oneida
Financial Corp.	$	519		$	545	$	392		$	(14	)	$	1,442
Total Assets	$	595,476		$	17,219	$	5,029		$	142		$	617,866

The following represents a reconciliation of the Company’s reported segment assets to consolidated assets as of June 30:

Assets	2011			2010
	(In thousands)
Total assets for reportable segments	$	662,343		$	617,866
Elimination of intercompany cash balances		(4,192	)		(4,556	)
Consolidated Total	$	658,151		$	613,310