Segment Reporting

3 Months Ended

Mar. 31, 2020

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, 2020 and 2019, is as follows:



In thousands	Banking			Insurance		Total
2020
Net interest income and other income from external customers	$	20,186		$	1,435	$	21,621
(Loss) Income before income taxes	(2,001		)	165		(1,836		)
Total assets	2,167,427			12,638		2,180,065
Capital expenditures	406			—		406

2019
Net interest income and other income from external customers	$	17,286		$	1,319	$	18,605
Income before income taxes	6,945			249		7,194
Total assets	1,658,919			12,240		1,671,159
Capital expenditures	161			—		161

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 and FCBI acquisitions is not deductible for federal income tax purposes.