Note 21 - Segment and Related Information

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 21 – Segment and Related Information

The Company has two reportable segments, community banking and wealth management.

Community banking involves making loans to and generating deposits from individuals and businesses. All assets and liabilities of the Company are allocated to community banking. Investment income from securities is also allocated to the community banking segment. Loan fee income, service charges from deposit accounts, and non-deposit fees such as automated teller machine fees and insurance commissions generate additional income for the community banking segment.

Wealth management include estate planning, trust account administration, investment management, and retail brokerage. Investment management include purchasing equity, fixed income, and mutual fund investments for customer accounts. The wealth management segment receives fees for investment and administrative services.

Segment information as of and for the years ended December 31, 2021, 2020, and 2019, is shown in the following table (dollars in thousands):

	2021
	Community Banking		Wealth Management		Total
Interest income	$	95,796	$	—	$	95,796
Interest expense		5,405		—		5,405
Noninterest income		15,012		6,019		21,031
Noninterest expense		56,251		2,757		59,008
Income before income taxes		51,977		3,262		55,239
Net income		40,949		2,577		43,526
Depreciation and amortization		3,697		10		3,707
Total assets		3,334,347		250		3,334,597
Goodwill		85,048		—		85,048
Capital expenditures		1,000		—		1,000

	2020
	Community Banking		Wealth Management		Total
Interest income	$	95,840	$	—	$	95,840
Interest expense		12,020		—		12,020
Noninterest income		12,054		4,789		16,843
Noninterest expense		52,245		2,320		54,565
Income before income taxes		34,714		2,468		37,182
Net income		28,052		1,993		30,045
Depreciation and amortization		3,815		10		3,825
Total assets		3,049,779		231		3,050,010
Goodwill		85,048		—		85,048
Capital expenditures		2,690		4		2,694

	2019
	Community Banking		Wealth Management		Total
Interest income	$	92,855	$	—	$	92,855
Interest expense		15,728		—		15,728
Noninterest income		10,602		4,568		15,170
Noninterest expense		63,794		2,280		66,074
Income before income taxes		23,479		2,288		25,767
Net income		19,050		1,856		20,906
Depreciation and amortization		3,454		8		3,462
Total assets		2,478,478		72		2,478,550
Goodwill		84,002		—		84,002
Capital expenditures		3,534		21		3,555