Segment Information

9 Months Ended

Sep. 30, 2011

Segment Information [Abstract]

Segment Information

NOTE  15.  SEGMENT INFORMATION

We operate two business segments:  community banking and insurance services.  These segments are primarily identified by the products or services offered.  The community banking segment consists of our full service banks which offer customers traditional banking products and services through various delivery channels.  The insurance services segment consists of three insurance agency offices that sell insurance products.  The accounting policies discussed throughout the notes to the consolidated financial statements apply to each of our business segments.

Intersegment revenue and expense consists of management fees allocated to the bank and Summit Insurance Services, LLC for all centralized functions that are performed by the parent, including overall direction in the areas of credit policy and administration, strategic planning, marketing, investment portfolio management and other financial and administrative services.  Information for each of our segments is included below:

	Nine Months Ended September 30, 2011
	Community			Insurance
In thousands	Banking			Services			Parent			Eliminations			Total
Net interest income	$	31,541		$	-		$	(1,358	)	$	-		$	30,183
Provision for loan losses		8,001			-			-			-			8,001
Net interest income after provision for loan losses		23,540			-			(1,358	)		-			22,182
Other income		(1,100	)		3,577			1,827			(743	)		3,561
Other expenses		18,784			3,173			1,237			(743	)		22,451
Income (loss) before income taxes		3,656			404			(768	)		-			3,292
Income tax expense (benefit)		741			161			(204	)		-			698
Net income (loss)		2,915			243			(564	)		-			2,594
Dividends on preferred shares		-			-			223			-			223
Net income (loss) applicable to common shares	$	2,915		$	243		$	(787	)	$	-		$	2,371
Intersegment revenue (expense)	$	(657	)	$	(86	)	$	743		$	-		$	-
Average assets	$	1,537,150		$	6,691		$	141,377		$	(210,693	)	$	1,474,525

	Nine Months Ended September 30, 2010
	Community			Insurance
In thousands	Banking			Services			Parent			Eliminations			Total
Net interest income	$	31,165		$	-		$	(1,450	)	$	-		$	29,715
Provision for loan losses		18,350			-			-			-			18,350
Net interest income after provision for loan losses		12,815			-			(1,450	)		-			11,365
Other income		2,897			3,628			1,178			(835	)		6,868
Other expenses		19,977			3,215			1,352			(835	)		23,709
Income (loss) before income taxes		(4,265	)		413			(1,624	)		-			(5,476	)
Income tax expense (benefit)		(2,154	)		165			(602	)		-			(2,591	)
Net income (loss)		(2,111	)		248			(1,022	)		-			(2,885	)
Dividends on preferred shares		-			-			223			-			223
Net income (loss) applicable to common shares	$	(2,111	)	$	248		$	(1,245	)	$	-		$	(3,108	)
Intersegment revenue (expense)	$	(750	)	$	(85	)	$	835		$	-		$	-
Average assets	$	1,568,104		$	6,946		$	141,026		$	(190,448	)	$	1,525,628

	Three Months Ended September 30, 2011
	Community			Insurance
In thousands	Banking			Services			Parent			Eliminations			Total
Net interest income	$	10,374		$	-		$	(453	)	$	-		$	9,921
Provision for loan losses		2,001			-			-			-			2,001
Net interest income after provision for loan losses		8,373			-			(453	)		-			7,920
Other income		1,093			1,121			221			(248	)		2,187
Other expenses		6,443			1,032			346			(248	)		7,573
Income (loss) before income taxes		3,023			89			(578	)		-			2,534
Income tax expense (benefit)		774			35			(211	)		-			598
Net income (loss)		2,249			54			(367	)		-			1,936
Dividends on preferred shares		-			-			74			-			74
Net income (loss) applicable to common shares	$	2,249		$	54		$	(441	)	$	-		$	1,862
Intersegment revenue (expense)	$	(219	)	$	(29	)	$	248		$	-		$	-
Average assets	$	1,532,356		$	6,573		$	143,099		$	(211,854	)	$	1,470,174

	Three Months Ended September 30, 2010
	Community			Insurance
In thousands	Banking			Services			Parent			Eliminations			Total
Net interest income	$	10,037		$	-		$	(489	)	$	-		$	9,548
Provision for loan losses		4,500			-			-			-			4,500
Net interest income after provision for loan losses		5,537			-			(489	)		-			5,048
Other income		1,155			1,198			315			(248	)		2,420
Other expenses		6,981			1,092			368			(248	)		8,193
Income (loss) before income taxes		(289	)		106			(542	)		-			(725	)
Income tax expense (benefit)		(566	)		46			(78	)		-			(598	)
Net income (loss)		277			60			(464	)		-			(127	)
Dividends on preferred shares		-			-			74			-			74
Net income (loss) applicable to common shares	$	277		$	60		$	(538	)	$	-		$	(201	)
Intersegment revenue (expense)	$	(219	)	$	(29	)	$	248		$	-		$	-
Average assets	$	1,561,074		$	6,732		$	139,673		$	(213,157	)	$	1,494,322