Segment Reporting

6 Months Ended

Jun. 30, 2019

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 six month periods ended June 30, 2019 and 2018, is as follows:



In thousands	Banking		Insurance		Total
2019
Net interest income and other income from external customers	$	35,162	$	3,233	$	38,395
Income before income taxes	14,315		859		15,174
Total assets	1,666,784		12,521		1,679,305
Capital expenditures	275		—		275

2018
Net interest income and other income from external customers	$	32,780	$	2,902	$	35,682
Income before income taxes	12,031		844		12,875
Total assets	1,613,462		9,880		1,623,342
Capital expenditures	614		41		655

Segment information for the three month periods ended June 30, 2019 and 2018, is as follows:



In thousands	Banking		Insurance		Total
2019
Net interest income and other income from external customers	$	17,876	$	1,914	$	19,790
Income before income taxes	7,370		610		7,980
Total assets	1,666,784		12,521		1,679,305
Capital expenditures	114		—		114

2018
Net interest income and other income from external customers	$	16,706	$	1,702	$	18,408
Income before income taxes	6,213		624		6,837
Total assets	1,613,462		9,880		1,623,342
Capital expenditures	257		41		298

Customer renewal lists are amortized over their estimated useful lives which range from eight to fifteen 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.