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Segment Reporting
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Segment Reporting

Note 13 – Segment Reporting



The Company operates two primary business segments: Community Banking and Insurance Products and Services. Through the Community Banking business, the Company provides services to consumers and small businesses in Maryland, Delaware and Virginia through its 21  branch network and two loan production offices. Community banking activities include small business services, retail brokerage, trust services and consumer banking products and services. Loan products available to consumers include mortgage, home equity, automobile, marine, and installment loans, credit cards and other secured and unsecured personal lines of credit. Small business lending includes commercial mortgages, real estate development loans, equipment and operating loans, as well as secured and unsecured lines of credit, credit cards, accounts receivable financing arrangements, and merchant card services.

 

Through the Insurance Products and Services business, the Company provides a full range of insurance products and services to businesses and consumers in the Company’s market areas. Products include property and casualty, life, marine, individual health and long-term care insurance. Pension and profit sharing plans and retirement plans for executives and employees are available to suit the needs of individual businesses.

 

The following table includes selected financial information by business segments for the first three months of 2018 and 2017.







 

 

 

 

 

 

 

 

 

 

 

 



 

Community

 

Insurance Products

 

Parent

 

Consolidated

(Dollars in thousands)

 

Banking

 

and Services

 

Company

 

Total

 2018

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

$

 13,097 

 

$

 -

 

$

 6 

 

$

 13,103 

Interest Expense

 

 

 (774)

 

 

 -

 

 

 -

 

 

 (774)

Provision for credit losses

 

 

 (489)

 

 

 -

 

 

 -

 

 

 (489)

Noninterest income

 

 

 2,140 

 

 

 2,789 

 

 

 -

 

 

 4,929 

Noninterest expense

 

 

 (7,347)

 

 

 (2,000)

 

 

 (2,115)

 

 

 (11,462)

Net intersegment (expense) income

 

 

 (1,831)

 

 

 (145)

 

 

 1,976 

 

 

 -

Income (loss) before taxes

 

 

 4,796 

 

 

 644 

 

 

 (133)

 

 

 5,307 

Income tax (expense) benefit

 

 

 (1,257)

 

 

 (169)

 

 

 177 

 

 

 (1,249)

Net Income (loss)

 

$

 3,539 

 

$

 475 

 

$

 44 

 

$

 4,058 



 

 

 

 

 

 

 

 

 

 

 

 

Total assets, March 31, 2018

 

$

 1,403,355 

 

$

 12,874 

 

$

 5,377 

 

$

 1,421,606 



 

 

 

 

 

 

 

 

 

 

 

 

 2017

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

$

 10,387 

 

$

 -

 

$

 60 

 

$

 10,447 

Interest Expense

 

 

 (514)

 

 

 -

 

 

 -

 

 

 (514)

Provision for credit losses

 

 

 (427)

 

 

 -

 

 

 -

 

 

 (427)

Noninterest income

 

 

 1,883 

 

 

 2,924 

 

 

 -

 

 

 4,807 

Noninterest expense

 

 

 (5,861)

 

 

 (1,809)

 

 

 (1,981)

 

 

 (9,651)

Net intersegment (expense) income

 

 

 (1,677)

 

 

 (198)

 

 

 1,875 

 

 

 -

Income (loss) before taxes

 

 

 3,791 

 

 

 917 

 

 

 (46)

 

 

 4,662 

Income tax (expense) benefit

 

 

 (1,513)

 

 

 (367)

 

 

 18 

 

 

 (1,862)

Net Income (loss)

 

$

 2,278 

 

$

 550 

 

$

 (28)

 

$

 2,800 



 

 

 

 

 

 

 

 

 

 

 

 

Total assets, March 31, 2017

 

$

 1,150,411 

 

$

 9,345 

 

$

 7,141 

 

$

 1,166,897