Note 22 - Business Segment Information

12 Months Ended

Dec. 31, 2022

Business Segment Information

Business Segment Information

Note 22. Business Segment Information

Selected financial and descriptive information is required to be disclosed for reportable operating segments, applying a “management perspective” as the basis for identifying reportable segments. The management perspective is determined by the view that management takes of the segments within the Company when making operating decisions, allocating resources, and measuring performance. The segments of the Company have been defined by the structure of the Company’s internal organization, focusing on the financial information that the Company’s operating decision-makers routinely use to make decisions about operating matters.

The Company’s Commercial Banking business is geographically divided by markets into the operating segments which are the four subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB and GB. Each of these operating segments offer similar products and services, but are managed separately due to different pricing, product demand, and consumer markets. Each offers commercial, consumer, and mortgage loans and deposit services.

The Company's All Other segment includes the corporate operations of the parent and operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds.  

Selected financial information on the Company’s business segments is presented as follows as of and for the years ended December 31, 2022, 2021, and 2020:

	Commercial Banking										Intercompany		Consolidated
	QCBT		CRBT		CSB		GB*		All other		Eliminations		Total
	(dollars in thousands)
Year Ended December 31, 2022
Total revenue	$	103,621	$	128,070	$	54,129	$	87,880	$	131,922	$	(132,322)	$	373,300
Net interest income		71,604		65,392		40,781		63,734		(11,779)		1,388		231,120
Provision for loan/lease losses		1,073		(961)		(1,335)		9,507		—		—		8,284
Net income (loss) from continuing operations		33,850		53,576		17,225		24,289		100,303		(130,177)		99,066
Goodwill		3,223		14,980		9,888		109,516		—		—		137,607
Intangibles		—		1,225		2,027		13,507		—		—		16,759
Total assets		2,312,013		2,185,500		1,297,812		2,146,474		1,086,351		(1,079,313)		7,948,837
Year Ended December 31, 2021
Total revenue	$	88,689	$	129,080	$	43,945	$	38,342	$	119,451	$	(118,930)	$	300,577
Net interest income		66,232		57,354		35,512		26,351		(8,479)		1,263		178,233
Provision for loan/lease losses		1,519		(697)		2,219		445		—		—		3,486
Net income (loss) from continuing operations		34,616		55,411		12,802		14,579		99,331		(117,834)		98,905
Goodwill		3,223		14,980		9,888		45,975		—		—		74,066
Intangibles		—		1,702		2,653		4,994		—		—		9,349
Total assets		2,142,344		2,030,279		1,168,606		882,885		845,120		(973,102)		6,096,132
Year Ended December 31, 2020
Total revenue	$	92,336	$	125,416	$	50,448	$	42,036	$	2,197	$	(262)	$	312,171
Net interest income		63,366		52,857		31,570		24,759		(6,633)		1,031		166,950
Provision for loan/lease losses		21,612		19,438		9,243		5,411		—		—		55,704
Net income (loss) from continuing operations		21,557		33,890		11,379		12,797		(19,041)		—		60,582
Goodwill		3,223		14,980		9,888		45,975		—		—		74,066
Intangibles		—		2,189		3,305		5,887		—		—		11,381
Total assets		2,153,773		1,957,695		1,004,183		779,956		134,407		(324,971)		5,705,043
* On April 1, 2022, the Company acquired GFED and merged its subsidiary bank, Guaranty Bank, into Springfield First Community Bank with the combined bank operating under the Guaranty Bank name.