Note 21 - Segment and Related Information

12 Months Ended

Dec. 31, 2022

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, 2022, 2021, and 2020, is shown in the following table (dollars in thousands):

	2022
	Community Banking		Wealth Management		Total
Interest income	$	96,004	$	—	$	96,004
Interest expense		5,766		—		5,766
Noninterest income		12,286		6,521		18,807
Noninterest expense		61,173		2,913		64,086
Income before income taxes		39,754		3,608		43,362
Net income		31,578		2,850		34,428
Depreciation and amortization		3,496		10		3,506
Total assets		3,065,611		291		3,065,902
Goodwill		85,048		—		85,048
Capital expenditures		1,196		—		1,196

	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