Note 10 - Segment Financial Information

9 Months Ended

Sep. 30, 2015

Notes

Note 10 - Segment Financial Information

Note 10 – Segment Financial Information

The Company discloses segment information in accordance with FASB ASC 280.  FASB ASC 280 requires companies to determine segments based on how management makes decisions about allocating resources to segments and measuring their performance.  The Company operates in five operating divisions that comprise one reportable business segment.

The Company has five operating divisions which comprise it operations:  Division I through Division V.  Each division consists of a number of branch offices that are aggregated based on vice president responsibility and geographic location.  Division I consists of offices located in South Carolina.  Offices in North Georgia comprise Division II, Division III consists of offices in South Georgia.  Division IV represents our Alabama and Tennessee offices, and our offices in Louisiana and Mississippi encompass Division V.

Accounting policies of each of the divisions are the same as those for the Company as a whole.  Performance is measured based on objectives set at the beginning of each year and include various factors such as division profit, growth in earning assets and delinquency and loan loss management.  All division revenues result from transactions with third parties.  The Company does not allocate income taxes or corporate headquarter expenses to the divisions.

The following table summarizes revenues, profit and assets by each of the Company's divisions.  Also in accordance therewith, a reconciliation to consolidated net income is provided.

(in thousands)	Division I	Division II	Division III	Division IV	Division V	Total
Division Revenues:
3 Months ended 9/30/2015	$ 6,778	$ 12,122	$ 11,051	$ 10,443	$ 9,005	$ 49,399
3 Months ended 9/30/2014	6,617	11,456	10,739	9,770	8,397	46,979
9 Months ended 9/30/2015	$ 20,192	$ 35,182	$ 31,936	$ 29,858	$ 26,241	$ 143,409
9 Months ended 9/30/2014	19,362	33,737	31,945	28,458	25,126	138,628
Division Profit:
3 Months ended 9/30/2015	$ 2,296	$ 5,637	$ 4,923	$ 4,102	$ 3,064	$ 20,022
3 Months ended 9/30/2014	2,297	5,399	4,502	3,753	2,876	18,827
9 Months ended 9/30/2015	$ 7,103	$ 16,907	$ 14,479	$ 11,650	$ 9,368	$ 59,507
9 Months ended 9/30/2014	7,339	16,505	14,783	11,610	9,645	59,882
Division Assets:
9/30/2015	$ 60,869	$ 104,730	$ 98,188	$ 105,659	$ 78,166	$ 447,612
12/31/2014	57,964	106,362	98,627	103,094	76,210	442,257

	3 Months Ended 9/30/2015 (in Thousands)	3 Months Ended 9/30/2014 (in Thousands)	9 Months Ended 9/30/2015 (in Thousands)	9 Months Ended 9/30/2014 (in Thousands)
Reconciliation of Profit:
Profit per division	$ 20,022	$ 18,827	$ 59,507	$ 59,882
Corporate earnings not allocated	3,658	3,401	11,359	9,842
Corporate expenses not allocated	(16,824)	(13,852)	(44,741)	(38,654)
Income taxes not allocated	(1,672)	(1,104)	(3,757)	(3,237)
Net income	$ 5,184	$ 7,272	$ 22,368	$ 27,833