Segment Financial Information

3 Months Ended

Jun. 30, 2011

Segment Reporting

Segment Reporting Disclosure [Text Block]

Note 10 – Segment Financial Information

Effective January 1, 2011, Management realigned its business.  The Company now has five reportable segments:  Division I through Division V.  Each segment consists of a number of branch offices that are aggregated based on vice president responsibility and geographic location.  Division I consists of offices located in South Carolina.  Offices in North Georgia comprise Division II, Division III consists of offices in South Georgia.  Division IV represents our Alabama and Tennessee offices, and our offices in Louisiana and Mississippi encompass Division V. 

Accounting policies of each of the segments are the same as those described in the summary of significant accounting policies.  Performance is measured based on objectives set at the beginning of each year and include various factors such as segment profit, growth in earning assets and delinquency and loan loss management.  All segment revenues result from transactions with third parties.  The Company does not allocate income taxes or corporate headquarter expenses to the segments.

In accordance with the requirements of ASC 280, “Segment Reporting,” the following table summarizes revenues, profit and assets by business segment.  Also in accordance therewith, a reconciliation to consolidated net income is also provided. 

	Division	Division	Division	Division	Division
	I	II	III	IV	V	Total
	(in Thousands)
Segment Revenues:
3 Months ended 6/30/2011	$4,512	$8,828	$8,845	$6,945	$6,227	$35,357
3 Months ended 6/30/2010	4,225	7,982	8,569	6,285	5,362	32,423
6 Months ended 6/30/2011	$9,230	$17,685	$17,965	$13,858	$12,389	$71,127
6 Months ended 6/30/2010	8,491	16,000	17,385	12,668	10,982	65,526
Segment Profit:
3 Months ended 6/30/2011	$1,278	$4,126	$3,799	$2,684	$2,467	$14,354
3 Months ended 6/30/2010	1,185	3,244	3,500	2,131	1,721	11,781
6 Months ended 6/30/2011	$2,783	$7,960	$7,607	$5,308	$4,879	$28,537
6 Months ended 6/30/2010	2,268	5,993	6,966	3,403	3,418	22,048
Segment Assets:
6/30/2011	$39,708	$83,991	$85,194	$75,263	$53,334	$337,490
6/30/2010	37,914	78,943	83,464	68,725	46,454	315,500
			3 Months Ended 6/30/2011 (in Thousands)	3 Months Ended 6/30/2010 (in Thousands)	6 Months Ended 6/30/2011 (in Thousands)	6 Months Ended 6/30/2010 (in Thousands)
Reconciliation of Profit:
Profit per segments			$14,354	$11,781	$28,537	$22,048
Corporate earnings not allocated			2,916	2,721	5,124	4,979
Corporate expenses not allocated			(9,501)	(8,137)	(17,951)	(15,989)
Income taxes not allocated			(628)	(597)	(1,281)	(1,196)
Net income			$7,141	$5,768	$14,429	$9,842