Note 15 - Segment Reporting

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

15. SEGMENT REPORTING

Under

ASC Topic 280,

Segment Reporting

, certain information is disclosed for the two reportable operating segments of the Company, FUSB and ALC. The reportable segments were determined using the internal management reporting system. These segments comprise the Company’s and FUSB’s significant subsidiaries. The accounting policies for each segment are the same as those described in Note 2, “Summary of Significant Accounting Policies,” of the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K as of and for the year ended December 31, 2015. The segment results include certain overhead allocations and intercompany transactions that were recorded at current market prices. All intercompany transactions have been eliminated to determine the consolidated balances. The results for the two reportable segments of the Company are included in the tables below.

						All
	FUSB			ALC		Other			Eliminations			Consolidated
	(Dollars in Thousands)
For the three months ended September 30 , 201 6 :
Net interest income	$	3,917		$	3,253	$	3		$	—		$	7,173
Provision (reduction in reserve) for loan losses		100			580		—			—			680
Total non-interest income		1,159			316		973			(881	)		1,567
Total non-interest expense		4,636			2,403		474			(165	)		7,348
Income (loss) before income taxes		340			586		502			(716	)		712
Provision for income taxes		52			196		(86	)		—			162
Net income (loss)	$	288		$	390	$	588		$	(716	)	$	550
Other significant items:
Total assets	$	602,123		$	89,347	$	84,291		$	(175,454	)	$	600,307
Total investment securities		209,486			—		80			—			209,566
Total loans, net		308,423			85,720		—			(77,022	)		317,121
Investment in subsidiaries		5			—		78,737			(78,737	)		5
Fixed asset additions		960			16		—			—			976
Depreciation and amortization expense		193			54		—			—			247
Total interest income from external customers		3,415			4,345		—			—			7,760
Total interest income from affiliates		1,092			—		3			(1,095	)		—
For the nine months ended September 30, 2016:
Net interest income	$	11,199		$	9,544	$	8		$	—		$	20,751
Provision (reduction in reserve) for loan losses		(350	)		1,733		—			—			1,383
Total non-interest income		3,002			909		2,481			(2,356	)		4,036
Total non-interest expense		13,435			7,306		1,373			(445	)		21,669
Income (loss) before income taxes		1,116			1,414		1,116			(1,911	)		1,735
Provision for income taxes		224			484		(302	)		—			406
Net income (loss)	$	892		$	930	$	1,418		$	(1,911	)	$	1,329
Other significant items:
Fixed asset additions		4,521			33		—			—			4,554
Depreciation and amortization expense		564			162		—			—			726
Total interest income from external customers		9,750			12,684		—			—			22,434
Total interest income from affiliates		3,140			—		8			(3,148	)		—

						All
	FUSB			ALC		Other			Eliminations			Consolidated
	(Dollars in Thousands)
For the three months ended September 30 , 201 5 :
Net interest income	$	3,598		$	3,166	$	3		$	—		$	6,767
Provision (reduction in reserve) for loan losses		(400	)		322		—			—			(78	)
Total non-interest income		755			234		847			(840	)		996
Total non-interest expense		4,443			2,430		360			(143	)		7,090
Income before income taxes		310			648		490			(697	)		751
Provision for income taxes		43			236		(72	)		—			207
Net income	$	267		$	412	$	562		$	(697	)	$	544
Other significant items:
Total assets	$	550,341		$	85,066	$	82,167		$	(169,037	)	$	548,537
Total investment securities		238,929			—		80			—			239,009
Total loans, net		229,721			80,779		—			(72,785	)		237,715
Investment in subsidiaries		5			—		76,883			(76,883	)		5
Fixed asset additions		1,250			2		—			—			1,252
Depreciation and amortization expense		151			61		—			—			212
Total interest income from external customers		3,162			4,166		—			—			7,328
Total interest income from affiliates		1,000			—		3			(1,003	)		—
For the nine months ended September 30, 2015:
Net interest income	$	11,433		$	9,203	$	8		$	—		$	20,644
Provision (reduction in reserve) for loan losses		(1,370	)		1,171		—			—			(199	)
Total non-interest income		2,766			689		3,053			(3,153	)		3,355
Total non-interest expense		13,110			7,400		1,103			(439	)		21,174
Income before income taxes		2,459			1,321		1,958			(2,714	)		3,024
Provision for income taxes		678			475		(283	)		—			870
Net income	$	1,781		$	846	$	2,241		$	(2,714	)	$	2,154
Other significant items:
Fixed asset additions	$	2,860		$	251	$	—		$	—		$	3,111
Depreciation and amortization expense		459			181		—			—			640
Total interest income from external customers		10,379			12,004		1			—			22,384
Total interest income from affiliates		2,801			—		7			(2,808	)		—