Segment Information

12 Months Ended

Dec. 31, 2020

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 trust and retirement consulting segments were combined during 2019.  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, 2020	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Assets
Goodwill and other intangibles	$	6,046	$	47,129	$	(3,558	)	$	49,617
Total assets	$	15,147	$	3,055,628	$	373		$	3,071,148

December 31, 2019	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Goodwill and other intangibles	$	6,326	$	37,141	$	(822	)	$	42,645
Total assets	$	13,892	$	2,430,784	$	4,482		$	2,449,158

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		0		9,100		0			9,100
Service fees, security gains and other    noninterest income		9,353		28,183		(381	)		37,155
Noninterest expense		5,963		63,683		1,206			70,852
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

For year ended 2019	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Net interest income	$	156	$	82,301	$	(79	)	$	82,378
Provision for loan losses		0		2,450		0			2,450
Service fees, security gains and other    noninterest income		9,097		19,769		(264	)		28,602
Noninterest expense		6,015		55,621		980			62,616
Amortization and depreciation expense		365		2,425		49			2,839
Income before taxes		2,873		41,574		(1,372	)		43,075
Income tax		604		7,170		(459	)		7,315
Net Income	$	2,269	$	34,404	$	(913	)	$	35,760

For year ended 2018	Trust Segment		Bank Segment		Eliminations and Others			Consolidated Totals
Net interest income	$	141	$	78,446	$	(86	)	$	78,501
Provision for loan losses		0		3,000		0			3,000
Service fees, security gains and other    noninterest income		8,942		16,887		(330	)		25,499
Noninterest expense		6,251		52,635		889			59,775
Amortization and depreciation expense		448		2,494		0			2,942
Income before taxes		2,384		37,204		(1,305	)		38,283
Income tax		504		5,653		(443	)		5,714
Net Income	$	1,880	$	31,551	$	(862	)	$	32,569

Bank segment includes Farmers Insurance and Investment.