Segment Information

12 Months Ended

Dec. 31, 2011

Segment Information [Abstract]

Segment Information

NOTE 17. SEGMENT INFORMATION

     We operate two business segments: community banking and an insurance agency. 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 agency 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 overall direction in the areas of strategic planning, investment portfolio management, asset/liability management, financial reporting and other financial and administrative services. Information for each of our segments is included below:

					December 31, 2011
		Community			Insurance
Dollars in thousands		Banking			Services			Parent		Eliminations				Total
Net interest income	$	41,658		$	-		$	(1,814	)	$	-		$	39,844
Provision for loan losses		10,000			-			-			-			10,000
Net interest income after provision for loan losses		31,658			-			(1,814	)		-			29,844
Other income		(167	)		4,606			2,155			(1,044	)		5,550
Other expenses		25,472			4,216			1,641			(1,044	)		30,285
Income (loss) before income taxes		6,019			390			(1,300	)		-			5,109
Income tax expense (benefit)		1,304			158			(427	)		-			1,035
Net income		4,715			232			(873	)		-			4,074
Dividends on preferred shares		-			-			371			-			371
Net income applicable to common shares	$	4,715		$	232		$	(1,244	)	$	-		$	3,703
Intersegment revenue (expense)	$	(942	)	$	(102	)	$	1,044		$	-		$	-
Average assets	$	1,533		$	7		$	143		$	(213	)	$	1,470
					December 31, 2010
		Community			Insurance
Dollars in thousands		Banking			Services			Parent		Eliminations				Total
Net interest income	$	42,069		$	-		$	(1,917	)	$	-		$	40,152
Provision for loan losses		21,350			-			-			-			21,350
Net interest income after provision for loan losses		20,719			-			(1,917	)		-			18,802
Other income		2,713			4,674			1,435			(1,083	)		7,739
Other expenses		26,563			4,258			1,733			(1,083	)		31,471
Income (loss) before income taxes		(3,131	)		416			(2,215	)		-			(4,930	)
Income tax expense (benefit)		(2,293	)		167			(829	)		-			(2,955	)
Net income		(838	)		249			(1,386	)		-			(1,975	)
Dividends on preferred shares		-			-			297			-			297
Net income applicable to common shares	$	(838	)	$	249		$	(1,683	)	$	-		$	(2,272	)
Intersegment revenue (expense)	$	(969	)	$	(114	)	$	1,083		$	-		$	-
Average assets	$	1,560,002		$	6,910		$	141,550		$	(196,320	)	$	1,512,142
					December 31, 2009
		Community			Insurance
Dollars in thousands		Banking			Services			Parent			Eliminations			Total
Net interest income	$	45,433		$	-		$	(1,891	)	$	-		$	43,542
Provision for loan losses		20,325			-			-			-			20,325
Net interest income after provision for loan losses		25,108			-			(1,891	)		-			23,217
Other income		1,462			4,938			6,457			(6,576	)		6,281
Other expenses		27,427			4,530			6,998			(6,576	)		32,379
Income (loss) before income taxes		(857	)		408			(2,432	)		-			(2,881	)
Income tax expense (benefit)		(1,420	)		160			(905	)		-			(2,165	)
Net income		563			248			(1,527	)		-			(716	)
Dividends on preferred shares		-			-			74			-			74
Net income applicable to common shares	$	563		$	248		$	(1,601	)	$	-		$	(790	)
Intersegment revenue (expense)	$	(6,462	)	$	(114	)	$	6,576		$	-		$	-
Average assets	$	1,592,969		$	7,323		$	138,003		$	(141,493	)	$	1,596,802