Note 10 - Segment Financial Information

3 Months Ended

Mar. 31, 2016

Notes

Note 10 - Segment Financial Information

Note 10 – Segment Financial Information

The Company discloses segment information in accordance with FASB ASC 280. FASB ASC 280 requires companies to determine segments based on how management makes decisions about allocating resources to segments and measuring their performance. The Company operates in five operating divisions one reportable business segment.

The Company has five operating divisions which comprise its operations: Division I through Division V. Each divisions 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 divisions are the same as those for the Company as a whole. Performance is measured based on objectives set at the beginning of each year and include various factors such as division profit, growth in earning assets and delinquency and loan loss management. All division revenues result from transactions with third parties. The Company does not allocate income taxes or corporate headquarter expenses to the divisions.

The following table summarizes revenues, profit and assets by each of the Company's divisions. Also in accordance therewith, a reconciliation to consolidated net income is provided.

	Division	Division	Division	Division	Division
	I	II	III	IV	V	Total
	(in thousands)
Division Revenues:
3 Months ended 3/31/2016	$ 7,242	$ 12,236	$ 11,342	$ 10,616	$ 9,179	$ 50,615
3 Months ended 3/31/2015	6,889	11,839	10,723	9,852	8,798	48,101
Division Profit:
3 Months ended 3/31/2016	$ 1,962	$ 5,259	$ 4,889	$ 3,874	$ 2,561	$ 18,545
3 Months ended 3/31/2015	2,564	6,078	5,128	3,975	3,323	21,068
Division Assets:
3/31/2016	$ 61,383	$ 103,922	$ 96,016	$ 106,690	$ 76,796	$ 444,807
12/31/2015	65,026	110,524	103,027	109,469	81,984	470,030

	3 Months Ended 3/31/2016	3 Months Ended 3/31/2015
	(in thousands)
Reconciliation of Profit:
Profit per division	$ 18,545	$ 21,068
Corporate earnings not allocated	2,974	3,039
Corporate expenses not allocated	(14,078)	(14,438)
Income taxes not allocated	(1,471)	(1,113)
Net income	$ 5,970	$ 8,556