Segment Information

9 Months Ended

Sep. 30, 2021

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, 2021
Goodwill and other intangibles	$	5,872	$	46,356	$	(3,558	)	$	48,670
Total assets	$	14,732	$	3,298,987	$	3,328		$	3,317,047

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
December 31, 2020
Goodwill and other intangibles	$	6,046	$	47,129	$	(3,558	)	$	49,617
Total assets	$	15,147	$	3,055,628	$	373		$	3,071,148

(In Thousands of Dollars)	Trust Segment		Bank Segment			Eliminations and Others			Consolidated Totals
For Three Months Ended September 30, 2021
Net interest income	$	31	$	26,798		$	(295	)	$	26,534
Provision for credit losses and unfunded loans		0		(948	)		0			(948	)
Service fees, security gains and other noninterest income		2,707		6,385			(77	)		9,015
Noninterest expense		1,726		14,586			(12	)		16,300
Amortization and depreciation expense		67		653			108			828
Income before taxes		945		18,892			(468	)		19,369
Income taxes		198		3,310			(150	)		3,358
Net income	$	747	$	15,582		$	(318	)	$	16,011

(In Thousands of Dollars)	Trust Segment		Bank Segment			Eliminations and Others			Consolidated Totals
For Nine Months Ended September 30, 2021
Net interest income	$	94	$	78,597		$	(400	)	$	78,291
Provision for credit losses and unfunded loans		0		(473	)		0			(473	)
Service fees, security gains and other noninterest income		8,108		20,726			(128	)		28,706
Noninterest expense		4,818		44,727			(409	)		49,136
Amortization and depreciation expense		194		1,992			244			2,430
Income before taxes		3,190		53,077			(363	)		55,904
Income taxes		669		9,379			(286	)		9,762
Net income	$	2,521	$	43,698		$	(77	)	$	46,142

(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 credit losses and unfunded loans		0		2,600		0			2,600
Service fees, security gains and other noninterest income		2,357		6,924		(64	)		9,217
Noninterest expense		1,507		15,112		63			16,682
Amortization and depreciation expense		88		632		68			788
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 credit losses and unfunded loans		0		6,100		0			6,100
Service fees, security gains and other noninterest income		6,922		19,086		(346	)		25,662
Noninterest expense		4,549		45,886		634			51,069
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

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