Note 13 - Segments

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

(13) Segments

Bancorp’s principal activities include commercial banking and investment management and trust. Commercial banking provides a full range of loan and deposit products to individual consumers and businesses. Commercial banking also includes Bancorp’s mortgage origination and securities brokerage activity. Investment management and trust provides wealth management services including investment management, trust and estate administration, and retirement plan services.

Financial information for each business segment reflects that which is specifically identifiable or allocated based on an internal allocation method. Income taxes are allocated based on the effective federal income tax rate adjusted for any tax exempt activity. All tax exempt activity and provision for loan losses have been allocated to the commercial banking segment. Measurement of performance of business segments is based on the management structure of Bancorp and is not necessarily comparable with similar information for any other financial institution. Information presented is also not necessarily indicative of the segments’ operations if they were independent entities.

Selected financial information by business segment for the three and nine month periods ended September 30, 2015 and 2014 follows:

				Investment
	Commercial			management
(in thousands)	banking			and trust		Total
Three months ended September 30, 2015
Net interest income	$	22,034		$	47	$	22,081
Provision for loan losses		-			-		-
Investment management and trust services		-			4,373		4,373
All other non-interest income		5,612			-		5,612
Non-interest expense		15,785			2,645		18,430
Income before income taxes		11,861			1,775		13,636
Tax expense		3,720			632		4,352
Net income	$	8,141		$	1,143	$	9,284
Three months ended September 30, 2014
Net interest income	$	21,317		$	46	$	21,363
Provision (credit) for loan losses		(2,100	)		-		(2,100	)
Investment management and trust services		-			4,502		4,502
All other non-interest income		5,348			-		5,348
Non-interest expense		15,971			2,738		18,709
Income before income taxes		12,794			1,810		14,604
Tax expense		4,071			644		4,715
Net income	$	8,723		$	1,166	$	9,889

				Investment
	Commercial			management
(in thousands)	banking			and trust		Total
Nine months ended September 30, 2015
Net interest income	$	65,350		$	146	$	65,496
Provision for loan losses		-			-		-
Investment management and trust services		-			13,576		13,576
All other non-interest income		16,301			-		16,301
Non-interest expense		46,991			8,085		55,076
Income before income taxes		34,660			5,637		40,297
Tax expense		10,749			2,007		12,756
Net income	$	23,911		$	3,630	$	27,541
Nine months ended September 30, 2014
Net interest income	$	62,110		$	136	$	62,246
Provision (credit) for loan losses		(400	)		-		(400	)
Investment management and trust services		-			13,825		13,825
All other non-interest income		15,527			30		15,557
Non-interest expense		46,036			7,918		53,954
Income before income taxes		32,001			6,073		38,074
Tax expense		9,814			2,160		11,974
Net income	$	22,187		$	3,913	$	26,100