SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE U:  SEGMENT INFORMATION

Operating segments are components of an enterprise, which are evaluated regularly by the “chief operating decision maker” in deciding how to allocate resources and assess performance. The Company’s chief operating decision maker is the President and Chief Executive Officer of the Company. The Company has identified Banking, Employee Benefit Services and All Other as its reportable operating business segments. CBNA operates the Banking segment that provides full-service banking to consumers, businesses, and governmental units in Upstate New York as well as Northeastern Pennsylvania, Vermont and Western Massachusetts. Employee Benefit Services, which includes operating subsidiaries of BPAS, BPA, BPAS-APS, BPAS Trust Company of Puerto Rico, NRS, GTC, HB&T, and FBD, provides employee benefit trust, collective investment fund, retirement plan administration, fund administration, transfer agency, actuarial, VEBA/HRA, and health and welfare consulting services. The All Other segment is comprised of: (a) wealth management services including trust services provided by the personal trust unit within the Bank, broker-dealer and investment advisory services provided by CISI, Carta Group and Wealth Partners, as well as asset management provided by Nottingham; and (b) full-service insurance, risk management and employee benefit services provided by OneGroup. The accounting policies used in the disclosure of business segments are the same as those described in the summary of significant accounting policies (See Note A).

Information about reportable segments and reconciliation of the information to the consolidated financial statements follows:

			Employee						Consolidated
(000’s omitted)	Banking		Benefit Services		All Other		Eliminations		Total
2021
Net interest income	$	374,078	$	293	$	41	$	0	$	374,412
Provision for credit losses		(8,839)		0		0		0		(8,839)
Noninterest revenue		67,910		116,621		68,834		(7,130)		246,235
Amortization of intangible assets		4,744		6,033		3,274		0		14,051
Acquisition expenses		638		36		27		0		701
Acquisition-related contingent consideration adjustment		0		200		0		0		200
Other operating expenses		265,525		64,423		50,368		(7,130)		373,186
Income before income taxes	$	179,920	$	46,222	$	15,206	$	0	$	241,348
Assets	$	15,325,732	$	257,879	$	97,391	$	(128,345)	$	15,552,657
Goodwill	$	689,868	$	85,321	$	23,920	$	0	$	799,109
Core deposit intangibles & Other intangibles	$	9,087	$	40,018	$	16,121	$	0	$	65,226
2020
Net interest income	$	367,237	$	943	$	223	$	0	$	368,403
Provision for credit losses		14,212		0		0		0		14,212
Noninterest revenue		69,578		103,456		61,599		(6,214)		228,419
Amortization of intangible assets		5,515		5,724		3,058		0		14,297
Acquisition expenses		4,933		0		0		0		4,933
Other operating expenses		255,955		60,709		46,854		(6,214)		357,304
Income before income taxes	$	156,200	$	37,966	$	11,910	$	0	$	206,076
Assets	$	13,762,325	$	217,780	$	82,849	$	(131,860)	$	13,931,094
Goodwill	$	690,121	$	83,275	$	20,312	$	0	$	793,708
Core deposit intangibles & Other intangibles	$	13,831	$	32,051	$	7,058	$	0	$	52,940
2019
Net interest income	$	358,334	$	665	$	176	$	0	$	359,175
Provision for credit losses		8,430		0		0		0		8,430
Noninterest revenue		75,067		99,483		59,075		(3,006)		230,619
Amortization of intangible assets		5,751		6,770		3,435		0		15,956
Acquisition expenses		8,608		0		0		0		8,608
Other operating expenses		245,870		59,428		45,170		(3,006)		347,462
Income before income taxes	$	164,742	$	33,950	$	10,646	$	0	$	209,338
Assets	$	11,225,509	$	209,690	$	76,351	$	(101,255)	$	11,410,295
Goodwill	$	670,223	$	83,275	$	20,312	$	0	$	773,810
Core deposit intangibles & Other intangibles	$	16,418	$	37,775	$	8,920	$	0	$	63,113