Note 9 - BUSINESS SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2024

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION

NOTE 9 – 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 offers similar products and services, but is 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 three and six months ended June 30, 2024 and 2023:

	Commercial Banking										Intercompany		Consolidated
	QCBT		CRBT		CSB		GB		All other		Eliminations		Total
	(dollars in thousands)
Three Months Ended June 30, 2024
Total revenue	$	41,866	$	50,167	$	21,480	$	37,924	$	37,295	$	(38,097)	$	150,635
Net interest income		17,725		17,100		11,284		13,862		(4,174)		366		56,163
Provision for credit losses		3,228		2,028		47		193		—		—		5,496
Net income (loss) from continuing operations		5,557		17,736		4,627		8,266		29,667		(36,739)		29,114
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		755		1,148		10,538		—		—		12,441
Total assets		2,559,049		2,428,266		1,531,109		2,369,754		1,263,250		(1,279,437)		8,871,991
Three Months Ended June 30, 2023
Total revenue	$	35,375	$	51,303	$	17,333	$	28,324	$	34,925	$	(36,363)	$	130,897
Net interest income		16,403		16,223		10,657		13,601		(3,989)		310		53,205
Provision for credit losses		3,620		480		198		(692)		—		—		3,606
Net income (loss) from continuing operations		4,816		19,353		4,613		5,156		28,945		(34,458)		28,425
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		991		1,729		12,508		—		—		15,228
Total assets		2,611,832		2,389,623		1,332,966		2,179,844		1,143,683		(1,431,275)		8,226,673
Six Months Ended June 30, 2024
Total revenue	$	82,248	$	98,142	$	41,989	$	71,549	$	70,964	$	(72,350)	$	292,542
Net interest income		34,688		34,008		22,359		27,376		(8,283)		714		110,862
Provision for credit losses		6,453		1,794		233		(15)		—		—		8,465
Net income (loss) from continuing operations		10,460		35,779		9,076		13,272		56,990		(69,737)		55,840
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		755		1,148		10,538		—		—		12,441
Total assets		2,559,049		2,428,266		1,531,109		2,369,754		1,263,250		(1,279,437)		8,871,991
Six Months Ended June 30, 2023
Total revenue	$	68,499	$	94,426	$	33,901	$	55,945	$	69,594	$	(71,409)	$	250,956
Net interest income		33,391		33,402		21,547		28,973		(7,952)		654		110,015
Provision for credit losses		5,193		1,996		690		(345)		—		—		7,534
Net income (loss) from continuing operations		11,854		35,753		9,373		10,543		56,625		(68,566)		55,582
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		991		1,729		12,508		—		—		15,228
Total assets		2,611,832		2,389,623		1,332,966		2,179,844		1,143,683		(1,431,275)		8,226,673