Note 13 - Segment and Related Information

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 13 – Segment and Related Information

The Company has two reportable segments, community banking and wealth management.

Community banking involves making loans to and generating deposits from individuals and businesses. Investment income from securities is also allocated to the community banking segment. Loan fee income, service charges from deposit accounts, and non-deposit fees such as automated teller machine fees and insurance commissions generate additional income for the community banking segment.

Wealth management includes estate planning, trust account administration, investment management, and retail brokerage. Investment management services include purchasing equity, fixed income, and mutual fund investments for customer accounts. The wealth management segment receives fees for investment and administrative services.

Segment information as of and for the three months ended March 31, 2022 and 2021 is shown in the following tables (dollars in thousands):

	As of and For the Three Months Ended March 31, 2022
	Community Banking		Wealth Management		Total
Interest income	$	21,407	$	—	$	21,407
Interest expense		954		—		954
Noninterest income		3,791		1,809		5,600
Noninterest expense		14,656		693		15,349
Income before income taxes		10,346		1,116		11,462
Net income		8,123		876		8,999
Depreciation and amortization		875		2		877
Total assets		3,345,962		276		3,346,238
Goodwill		85,048		—		85,048
Capital expenditures		366		—		366

	As of and For the Three Months Ended March 31, 2021
	Community Banking		Wealth Management		Total
Interest income	$	24,204	$	—	$	24,204
Interest expense		1,781		—		1,781
Noninterest income		4,498		1,424		5,922
Noninterest expense		13,401		664		14,065
Income before income taxes		13,520		760		14,280
Net income		10,688		601		11,289
Depreciation and amortization		958		3		961
Total assets		3,073,188		244		3,073,432
Goodwill		85,048		—		85,048
Capital expenditures		246		—		246