Segment Reporting

3 Months Ended

Mar. 31, 2018

The Corporation has two reporting segments, the Bank and RIG. RIG is managed separately from the banking segment, which includes the Bank and related financial services that the Corporation offers through its banking subsidiary. RIG offers a broad range of property and casualty, life, and health insurance to both commercial and individual clients.

Segment information for the three month periods ended March 31, 2018 and 2017, is as follows:



In thousands	Banking		Insurance		Total
2018
Net interest income and other income from external customers	$	16,074	$	1,200	$	17,274
Income before income taxes	5,818		220		6,038
Total assets	1,601,028		9,987		1,611,015
Capital expenditures	357		—		357

2017
Net interest income and other income from external customers	$	11,394	$	1,154	$	12,548
Income before income taxes	3,438		110		3,548
Total assets	1,232,035		9,690		1,241,725
Capital expenditures	367		—		367

Customer renewal lists are amortized over their estimated useful lives which range from eight to thirteen years. Core deposit intangible assets are primarily amortized over 10 years using accelerated methods. Goodwill is not amortized, but rather is analyzed annually for impairment. If certain events occur which might indicate goodwill has been impaired, the goodwill is tested for impairment when such events occur. Tax amortization of goodwill and the intangible assets is deductible for tax purposes. Tax amortization of the goodwill associated with the New Windsor acquisition is not deductible for federal income tax purposes.