Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

NOTE 14. 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 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:

					Three Months Ended March 31, 2012
		Community			Insurance
In thousands		Banking			Services			Parent			Eliminations			Total
Net interest income	$	10,467		$	-		$	(449	)	$	-		$	10,018
Provision for loan losses		2,001			-			-			-			2,001
Net interest income after provision for loan losses		8,466			-			(449	)		-			8,017
Other income		528			1,175			261			(261	)		1,703
Other expenses		6,361			1,004			435			(261	)		7,539
Income (loss) before income taxes		2,633			171			(623	)		-			2,181
Income tax expense (benefit)		625			69			(211	)		-			483
Net income (loss)		2,008			102			(412	)		-			1,698
Dividends on preferred shares		-			-			194			-			194
Net income (loss) applicable to common shares	$	2,008		$	102		$	(606	)	$	-		$	1,504
Intersegment revenue (expense)	$	(236	)	$	(25	)	$	261		$	-		$	-
Average assets	$	1,500,416		$	6,367		$	152,954		$	(217,225	)	$	1,442,512

					Three Months Ended March 31, 2011
		Community			Insurance
In thousands		Banking			Services			Parent			Eliminations			Total
Net interest income	$	10,553		$	-		$	(451	)	$	-		$	10,102
Provision for loan losses		3,000			-			-			-			3,000
Net interest income after provision for loan losses		7,553			-			(451	)		-			7,102
Other income		(2,960	)		1,237			1,359			(248	)		(612	)
Other expenses		5,738			1,027			459			(248	)		6,976
Income (loss) before income taxes		(1,145	)		210			449			-			(486	)
Income tax expense (benefit)		(547	)		90			219			-			(238	)
Net income (loss)		(598	)		120			230			-			(248	)
Dividends on preferred shares		-			-			74			-			74
Net income (loss) applicable to common shares	$	(598	)	$	120		$	156		$	-		$	(322	)
Intersegment revenue (expense)	$	(219	)	$	(29	)	$	248		$	-		$	-
Average assets	$	1,535,822		$	6,680		$	140,288		$	(210,555	)	$	1,472,235