Note 20 - Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting Disclosure [Text Block]

(

)

Segments

Bancorp’s principal activities include commercial banking and WM&T. 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 investment products sales activity. WM&T provides financial 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.

Principally, all of the net assets of Bancorp are involved in the commercial banking segment. Goodwill of

$682,000

related to a bank acquisition in

1996

which has been assigned to the commercial banking segment. Assets assigned to WM&T primarily consist of net premises and equipment.

Selected financial information by business segment for the

three

month periods ended

March 31, 2019

and

2018

follows:

			Wealth
	Commercial		management
(In thousands)	banking		and trust		Total

Three months ended March 31, 2019
Net interest income	$	29,581	$	76	$	29,657
Provision		600		-		600
Wealth management and trust services		-		5,439		5,439
All other non-interest income		5,623		-		5,623
Non-interest expenses		19,606		3,033		22,639
Income before income tax expense		14,998		2,482		17,480
Income tax expense		1,300		539		1,839
Net income	$	13,698	$	1,943	$	15,641

Segment assets	$	3,279,248	$	1,768	$	3,281,016

Three months ended March 31, 2018
Net interest income	$	27,238	$	71	$	27,309
Provision		735		-		735
Wealth management and trust services		-		5,500		5,500
All other non-interest income		5,409		-		5,409
Non-interest expenses		17,829		3,198		21,027
Income before income tax expense		14,083		2,373		16,456
Income tax expense		2,537		515		3,052
Net income	$	11,546	$	1,858	$	13,404

Segment assets	$	3,283,539	$	1,941	$	3,285,480