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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2020
SEGMENT REPORTING  
SEGMENT REPORTING

NOTE 8 – SEGMENT INFORMATION

Our insurance agency operations are managed separately from the traditional banking and related financial services that we also offer.  The insurance agency operation provides commercial, individual, and group benefit plans and personal coverage.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

March 31, 2020

 

 

March 31, 2019

 

 

Banking and

 

Insurance

 

 

 

 

Banking and

 

Insurance

 

 

 

(Dollars in thousands)

 

Financial Services

 

Services

 

Total

 

Financial Services

 

Services

 

Total

Net interest income from external sources

 

$

15,180

 

$

 —

 

$

15,180

 

$

14,439

 

$

 —

 

$

14,439

Other income from external sources

 

 

1,028

 

 

2,653

 

 

3,681

 

 

1,032

 

 

2,601

 

 

3,633

Depreciation and amortization

 

 

467

 

 

12

 

 

479

 

 

525

 

 

12

 

 

537

Income before income taxes

 

 

5,437

 

 

1,178

 

 

6,615

 

 

6,057

 

 

1,266

 

 

7,323

Income tax expense (1)

 

 

1,016

 

 

471

 

 

1,487

 

 

994

 

 

506

 

 

1,500

Total assets

 

 

2,075,806

 

 

4,430

 

 

2,080,236

 

 

1,834,400

 

 

5,729

 

 

1,840,129

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Insurance Services calculated at statutory tax rate of 28.1%.