Segment Information

9 Months Ended

Sep. 30, 2020

Segment Information [Abstract]

Segment Information

12. 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 and nine month periods ended September 30, 2020 and 2019.

	Three months ended September 30, 2020
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)
Net interest income (expense)	$	15,644	$	(2)	$	15,642
Provision for loan losses		1,881		-		1,881
Net interest income (expense) after
provision for loan losses		13,763		(2)		13,761
Insurance service and fees		162		3,055		3,217
Other non-interest income		2,636		4		2,640
Amortization expense		6		130		136
Other non-interest expense		12,372		1,960		14,332
Income before income taxes		4,183		967		5,150
Income tax provision		354		252		606
Net income	$	3,829	$	715	$	4,544

	Three months ended September 30, 2019
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)
Net interest income (expense)	$	13,652	$	(31)	$	13,621
Provision for loan losses		(431)		-		(431)
Net interest income (expense) after
provision for loan losses		14,083		(31)		14,052
Insurance service and fees		130		3,095		3,225
Other non-interest income		1,777		162		1,939
Amortization expense		-		112		112
Other non-interest expense		9,778		2,386		12,164
Income before income taxes		6,212		728		6,940
Income tax provision		1,587		189		1,776
Net income	$	4,625	$	539	$	5,164

‎

	Nine months ended September 30, 2020
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)
Net interest income (expense)	$	43,359	$	(8)	$	43,351
Provision for loan losses		5,477		-		5,477
Net interest income (expense) after
provision for loan losses		37,882		(8)		37,874
Insurance service and fees		395		7,914		8,309
Other non-interest income		5,121		4		5,125
Amortization expense		11		389		400
Other non-interest expense		38,917		6,033		44,950
Income before income taxes		4,470		1,488		5,958
Income tax provision		354		387		741
Net income	$	4,116	$	1,101	$	5,217

	Nine months ended September 30, 2019
		Banking		Insurance Agency
		Activities		Activities		Total
		(in thousands)
Net interest income (expense)	$	39,360	$	(97)	$	39,263
Provision for loan losses		197		-		197
Net interest income (expense) after
provision for loan losses		39,163		(97)		39,066
Insurance service and fees		377		8,191		8,568
Other non-interest income		5,359		162		5,521
Amortization expense		-		336		336
Other non-interest expense		28,775		6,538		35,313
Income before income taxes		16,124		1,382		17,506
Income tax provision		3,880		360		4,240
Net income	$	12,244	$	1,022	$	13,266