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14. Segment Information
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Segment Information

We operate two business segments:  community banking and insurance & financial 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 & financial services segment includes 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.

 

Inter-segment revenue and expense consists of management fees allocated to the community banking and the insurance & financial services segments 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:

 

    Six Months Ended June 30, 2014
        Insurance &            
    Community   Financial            
In thousands   Banking   Services   Parent   Eliminations   Total
Net interest income   $ 21,311   $ -   $ (953 ) $ -   $ 20,358
Provision for loan losses     2,000     -     -     -     2,000
Net interest income after provision for loan losses     19,311     -     (953 )   -     18,358
Other income     2,901     2,588     590     (590 )   5,489
Other expenses     14,672     2,089     857     (590 )   17,028
Income (loss) before income taxes     7,540     499     (1,220 )   -     6,819
Income tax expense (benefit)     2,187     172     (362 )   -     1,997
Net income (loss)     5,353     327     (858 )   -     4,822
Dividends on preferred shares     -     -     387     -     387
Net income (loss) applicable to common shares   $ 5,353   $ 327   $ (1,245 ) $ -   $ 4,435
Inter-segment revenue (expense)   $ (532 ) $ (58 ) $ 590   $ -   $ -
Average assets   $ 1,454,597   $ 6,064   $ 162,023   $ (217,039 ) $ 1,405,645

 

 

    Six Months Ended June 30, 2013
        Insurance &            
    Community   Financial            
In thousands   Banking   Services   Parent   Eliminations   Total
Net interest income   $ 20,212   $ -   $ (950 ) $ -   $ 19,262
Provision for loan losses     2,500     -     -     -     2,500
Net interest income after provision for loan losses     17,712     -     (950 )   -     16,762
Other income     2,941     2,509     544     (544 )   5,450
Other expenses     15,525     2,325     794     (544 )   18,100
Income (loss) before income taxes     5,128     184     (1,200 )   -     4,112
Income tax expense (benefit)     1,447     66     (411 )   -     1,102
Net income (loss)     3,681     118     (789 )   -     3,010
Dividends on preferred shares     -     -     388     -     388
Net income (loss) applicable to common shares   $ 3,681   $ 118   $ (1,177 ) $ -   $ 2,622
Intersegment revenue (expense)   $ (490 ) $ (54 ) $ 544   $ -   $ -
                               
Average assets   $ 1,442,999   $ 6,304   $ 156,502   $ (217,203 ) $ 1,388,602

 

 

 

    Three Months Ended June 30, 2014
        Insurance &            
    Community   Financial            
In thousands   Banking   Services   Parent   Eliminations   Total
Net interest income   $ 10,800   $ -   $ (480 ) $ -   $ 10,320
Provision for loan losses     1,000     -     -     -     1,000
Net interest income after provision for loan losses     9,800     -     (480 )   -     9,320
Other income     1,491     1,214     297     (297 )   2,705
Other expenses     7,323     1,061     443     (297 )   8,530
Income (loss) before income taxes     3,968     153     (626 )   -     3,495
Income tax expense (benefit)     1,205     50     (192 )   -     1,063
Net income (loss)     2,763     103     (434 )   -     2,432
Dividends on preferred shares     -     -     193     -     193
Net income (loss) applicable to common shares   $ 2,763   $ 103   $ (627 ) $ -   $ 2,239
Inter-segment revenue (expense)   $ (268 ) $ (29 ) $ 297   $ -   $ -
                               
Average assets   $ 1,467,261   $ 6,149   $ 163,682   $ (218,027 ) $ 1,419,065

 

 

  Three Months Ended June 30, 2013
      Insurance &            
  Community   Financial            
In thousands Banking   Services   Parent   Eliminations   Total
Net interest income $ 9,986   $ -   $ (482 ) $ -   $ 9,504
Provision for loan losses   1,000     -     -     -     1,000
Net interest income after provision for loan losses   8,986     -     (482 )   -     8,504
Other income   1,497     1,206     272     (272 )   2,703
Other expenses   8,332     1,129     349     (272 )   9,538
Income (loss) before income taxes   2,151     77     (559 )   -     1,669
Income tax expense (benefit)   622     31     (201 )   -     452
Net income (loss)   1,529     46     (358 )   -     1,217
Dividends on preferred shares   -     -     194     -     194
Net income (loss) applicable to common shares $ 1,529   $ 46   $ (552 ) $ -   $ 1,023
Intersegment revenue (expense) $ (245 ) $ (27 ) $ 272   $ -   $ -
                             
Average assets $ 1,439,506   $ 6,344   $ 157,189   $ (217,703 ) $ 1,385,336