Segment Information

3 Months Ended

Mar. 31, 2020

7. SEGMENT INFORMATION

The Company comprises two primary business segments, banking and insurance agency activities. The following tables set forth information regarding these segments for the three month periods ended March 31, 2020 and 2019.




	Three months ended March 31, 2020
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)

Net interest income (expense)	$	12,779	$	(3)	$	12,776
Provision for loan losses		2,999		-		2,999
Net interest income (expense) after
provision for loan losses		9,780		(3)		9,777
Insurance service and fees		113		2,312		2,425
Other non-interest income		913		-		913
Amortization expense		-		130		130
Other non-interest expense		10,720		2,020		12,740
Income before income taxes		86		159		245
Income tax provision		-		41		41
Net income	$	86	$	118	$	204




	Three months ended March 31, 2019
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)

Net interest income (expense)	$	12,541	$	(33)	$	12,508
Provision for loan losses		538		-		538
Net interest income (expense) after
provision for loan losses		12,003		(33)		11,970
Insurance service and fees		119		2,323		2,442
Other non-interest income		1,753		-		1,753
Amortization expense		-		112		112
Other non-interest expense		9,086		2,026		11,112
Income before income taxes		4,789		152		4,941
Income tax provision		1,181		40		1,221
Net income	$	3,608	$	112	$	3,720