Segment Information

9 Months Ended

Sep. 30, 2017

The Company’s two reportable segments are Investor Services and Advisor Services. The Company structures its operating segments according to its clients and the services provided to those clients. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services. The Advisor Services segment provides custodial, trading, banking, and support services as well as retirement business services. Revenues and expenses are allocated to the Company’s two segments based on which segment services the client.

Management evaluates the performance of its segments on a pre-tax basis. Segment assets and liabilities are not used for evaluating segment performance or in deciding how to allocate resources to segments. There are no revenues from transactions between the segments.

Financial information for the Company’s reportable segments is presented in the following tables:



	Investor Services				Advisor Services				Total
Three Months Ended September 30,	2017		2016		2017		2016		2017		2016
Net Revenues:
Asset management and administration fees	$	595	$	550	$	266	$	248	$	861	$	798
Net interest revenue	818		654		264		191		1,082		845
Trading revenue	94		123		57		67		151		190
Other	54		56		17		20		71		76
Provision for loan losses	—		4		—		1		—		5
Total net revenues	1,561		1,387		604		527		2,165		1,914
Expenses Excluding Interest	918		847		302		273		1,220		1,120
Income before taxes on income	$	643	$	540	$	302	$	254	$	945	$	794



	Investor Services				Advisor Services				Total
Nine Months Ended September 30,	2017		2016		2017		2016		2017		2016
Net Revenues:
Asset management and administration fees	$	1,743	$	1,536	$	786	$	718	$	2,529	$	2,254
Net interest revenue	2,366		1,895		769		520		3,135		2,415
Trading revenue	311		395		189		228		500		623
Other	159		153		53		56		212		209
Provision for loan losses	—		4		—		1		—		5
Total net revenues	4,579		3,983		1,797		1,523		6,376		5,506
Expenses Excluding Interest	2,762		2,518		917		819		3,679		3,337
Income before taxes on income	$	1,817	$	1,465	$	880	$	704	$	2,697	$	2,169