Note 13 - Segment and Related Information

3 Months Ended

Mar. 31, 2023

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, 2023 and 2022 shown in the following tables (dollars in thousands):

	As of and For the Three Months Ended March 31, 2023
	Community Banking		Wealth Management		Total
Interest income	$	28,302	$	—	$	28,302
Interest expense		5,078		—		5,078
Noninterest income		2,804		1,568		4,372
Noninterest expense		14,911		737		15,648
Income before income taxes		10,788		831		11,619
Net income		8,502		655		9,157
Depreciation and amortization		876		1		877
Total assets		3,075,340		315		3,075,655
Goodwill		85,048		—		85,048
Capital expenditures		74		—		74

	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		3,547		1,809		5,600
Noninterest expense		14,164		693		15,349
Income before income taxes		12,080		1,116		11,462
Net income		9,537		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