Segment Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Information

NOTE 23 – SEGMENT INFORMATION

The reportable segments are determined by the products and services offered, primarily distinguished between banking and trust operations. The segments are also distinguished by the level of information provided to the chief operating decision makers in the Company, who use such information to review performance of various components of the business, which are then aggregated. Loans, investments and deposits provide the revenues in the banking operation, trust service fees and consulting fees provide the revenue in trust operations. All operations are domestic.

Accounting policies for segments are the same as those described in Note 1. Segment performance is evaluated using operating income. Income taxes are calculated on operating income. Transactions among segments are made at fair value.

Significant segment totals are reconciled to the financial statements as follows:

December 31, 2022	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Assets
Goodwill and other intangibles	$	5,739	$	100,190	$	(4,263	)	$	101,666
Total assets	$	14,383	$	4,064,112	$	3,705		$	4,082,200

December 31, 2021	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Goodwill and other intangibles	$	5,814	$	101,055	$	(4,263	)	$	102,606
Total assets	$	14,365	$	4,124,530	$	3,854		$	4,142,749

For year ended 2022	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Net interest income	$	172	$	127,353	$	(3,359	)	$	124,166
Provision for credit losses and unfunded loans		0		1,122		0			1,122
Service fees, security gains and other    noninterest income		19,535		25,304		(637	)		44,202
Noninterest expense		8,635		79,987		890			89,512
Amortization and depreciation expense		110		4,336		453			4,899
Income before taxes		10,962		67,212		(5,339	)		72,835
Income tax		2,301		11,277		(1,340	)		12,238
Net Income	$	8,661	$	55,935	$	(3,999	)	$	60,597

For year ended 2021	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Net interest income	$	134	$	108,726	$	(870	)	$	107,990
Provision for loan losses and unfunded loans		0		4,893		0			4,893
Service fees, security gains and other    noninterest income		11,045		27,347		(199	)		38,193
Noninterest expense		6,854		68,194		589			75,637
Amortization and depreciation expense		262		2,931		346			3,539
Income before taxes		4,063		60,055		(2,004	)		62,114
Income tax		852		10,023		(605	)		10,270
Net Income	$	3,211	$	50,032	$	(1,399	)	$	51,844

For year ended 2020	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Net interest income	$	125	$	96,361	$	(295	)	$	96,191
Provision for loan losses and unfunded loans		0		9,100		0			9,100
Service fees, security gains and other    noninterest income		9,353		27,189		(381	)		36,161
Noninterest expense		5,963		62,689		1,206			69,858
Amortization and depreciation expense		304		2,566		252			3,122
Income before taxes		3,211		49,195		(2,134	)		50,272
Income tax		674		8,305		(583	)		8,396
Net Income	$	2,537	$	40,890	$	(1,551	)	$	41,876

Bank segment includes Farmers Insurance and Investment.