Segment Information

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

Segment Information:

The reportable segments are determined by the products and services offered, primarily distinguished between banking and trust. These 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. All operations are domestic. Significant segment totals are reconciled to the financial statements as follows:

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
June 30, 2023
Goodwill and other intangibles	$	5,709	$	190,605	$	(4,263	)	$	192,051
Total assets	$	17,610	$	5,050,547	$	5,297		$	5,073,454

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

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Three Months Ended June 30, 2023
Net interest income	$	57	$	35,476	$	(955	)	$	34,578
Provision for credit losses and unfunded loans		0		25		0			25
Service fees, security gains and other noninterest income		2,668		7,167		(386	)		9,449
Noninterest expense		1,654		22,056		475			24,185
Amortization and depreciation expense		23		2,066		112			2,201
Income before taxes		1,048		18,496		(1,928	)		17,616
Income taxes		221		2,859		(430	)		2,650
Net income	$	827	$	15,637	$	(1,498	)	$	14,966

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Six Months Ended June 30, 2023
Net interest income	$	114	$	72,984	$	(1,910	)	$	71,188
Provision for credit losses and unfunded loans		0		8,624		0			8,624
Service fees, security gains and other noninterest income		5,568		14,923		(617	)		19,874
Noninterest expense		3,297		48,591		1,120			53,008
Amortization and depreciation expense		46		3,828		226			4,100
Income before taxes		2,339		26,864		(3,873	)		25,330
Income taxes		492		3,706		(909	)		3,289
Net income	$	1,847	$	23,158	$	(2,964	)	$	22,041

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Three Months Ended June 30, 2022
Net interest income	$	38	$	32,486	$	(813	)	$	31,711
Provision for credit losses and unfunded loans		0		616		0			616
Service fees, security gains and other noninterest income		4,839		4,606		32			9,477
Noninterest expense		3,614		16,174		494			20,282
Amortization and depreciation expense		28		1,038		113			1,179
Income before taxes		1,235		19,264		(1,388	)		19,111
Income taxes		258		3,266		(364	)		3,160
Net income	$	977	$	15,998	$	(1,024	)	$	15,951

(In Thousands of Dollars)	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
For Six Months Ended June 30, 2022
Net interest income	$	72	$	64,479	$	(1,598	)	$	62,953
Provision for credit losses and unfunded loans		0		258		0			258
Service fees, security gains and other noninterest income		14,037		13,347		(209	)		27,175
Noninterest expense		5,383		43,616		577			49,576
Amortization and depreciation expense		56		2,058		227			2,341
Income before taxes		8,670		31,894		(2,611	)		37,953
Income taxes		1,820		5,000		(662	)		6,158
Net income	$	6,850	$	26,894	$	(1,949	)	$	31,795

The Bank segment includes Farmers National Insurance and Farmers of Canfield Investment Co.