Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

Segment Information:

The reportable segments are determined by the products and services offered, primarily distinguished between banking and trust.  The trust and retirement consulting segments were combined in 2019.   These segments are also distinguished by the level of information provided to the chief operating decision makers in the Company, who use such information to review performance of various components of the business, which are then aggregated.  Loans, investments, and deposits provide the revenues in the banking operation.  All operations are domestic.  Significant segment totals are reconciled to the financial statements as follows:

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
September 30, 2020
Goodwill and other intangibles	$	6,116	$	49,050	$	(3,558	)	$	51,608
Total assets	$	14,500	$	2,970,504	$	4,175		$	2,989,179

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
December 31, 2019
Goodwill and other intangibles	$	6,326	$	37,141	$	(822	)	$	42,645
Total assets	$	13,892	$	2,430,784	$	4,482		$	2,449,158

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Three Months Ended September 30, 2020
Net interest income	$	31	$	24,197	$	(63	)	$	24,165
Provision for loan losses		0		2,600		0			2,600
Service fees, security gains and other noninterest income		2,357		7,174		(64	)		9,467
Noninterest expense		1,520		15,361		63			16,944
Amortization and depreciation expense		75		633		68			776
Income before taxes		793		12,777		(258	)		13,312
Income taxes		166		2,397		(120	)		2,443
Net income	$	627	$	10,380	$	(138	)	$	10,869

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Nine Months Ended September 30, 2020
Net interest income	$	95	$	70,540	$	(247	)	$	70,388
Provision for loan losses		0		6,100		0			6,100
Service fees, security gains and other noninterest income		6,922		19,897		(346	)		26,473
Noninterest expense		4,549		46,697		634			51,880
Amortization and depreciation expense		228		1,905		184			2,317
Income before taxes		2,240		35,735		(1,411	)		36,564
Income taxes		470		6,051		(476	)		6,045
Net income	$	1,770	$	29,684	$	(935	)	$	30,519

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Three Months Ended September 30, 2019
Net interest income	$	43	$	20,734	$	(20	)	$	20,757
Provision for loan losses		0		550		0			550
Service fees, security gains and other noninterest income		2,277		5,235		(71	)		7,441
Noninterest expense		1,459		13,937		321			15,717
Amortization and depreciation expense		91		602		13			706
Income before taxes		770		10,880		(425	)		11,225
Income taxes		162		2,019		(110	)		2,071
Net income	$	608	$	8,861	$	(315	)	$	9,154

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Nine Months Ended September 30, 2019
Net interest income	$	121	$	61,157	$	(65	)	$	61,213
Provision for loan losses		0		1,850		0			1,850
Service fees, security gains and other noninterest income		6,825		14,329		(199	)		20,955
Noninterest expense		4,580		41,656		734			46,970
Amortization and depreciation expense		275		1,822		37			2,134
Income before taxes		2,091		30,158		(1,035	)		31,214
Income taxes		440		5,049		(360	)		5,129
Net income	$	1,651	$	25,109	$	(675	)	$	26,085

The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co.