SEGMENT REPORTING

6 Months Ended

Jun. 30, 2013

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

NOTE 11                      SEGMENT REPORTING

The Corporation manages its operations through two primary business segments:  core banking and wealth management group services.  The core banking segment provides revenues by attracting deposits from the general public and using such funds to originate consumer, commercial, commercial real estate, and residential mortgage loans, primarily in the Corporation’s local markets and to invest in securities.  The wealth management group services segment provides revenues by providing trust and investment advisory services to clients.

Accounting policies for the segments are the same as those described in Note 1. Summarized financial information concerning the Corporation’s reportable segments and the reconciliation to the Corporation’s consolidated results are shown in the following table.  Income taxes are allocated based on the separate taxable income of each entity and indirect overhead expenses are allocated based on reasonable and equitable allocations applicable to the reportable segment.  Holding company amounts are the primary differences between segment amounts and consolidated totals, and are reflected in the Holding Company and Other column below, along with amounts to eliminate transactions between segments.

		Three Months Ended June 30, 2013							Six Months Ended June 30, 2013
		Core Banking		Wealth Management Group Services		Holding Company And Other		Consolidated Totals	Core Banking		Wealth Management Group Services		Holding Company And Other		Consolidated Totals
Net interest income	$	11,323,855	$	-	$	3,917	$	11,327,772	$	23,039,183	$	-	$	5,556	$	23,044,739
Provision for loan losses		450,474		-		-		450,474		881,484		-		-		881,484
Net interest income after provision for loan losses		10,873,381		-		3,917		10,877,298		22,157,699		-		5,556		22,163,255
Other operating income		2,318,089		1,884,949		272,100		4,475,138		4,312,660		3,635,127		548,928		8,496,715
Other operating expenses		9,924,092		1,276,345		191,067		11,391,504		19,862,144		2,802,901		451,216		23,116,261
Income before income tax expense		3,267,378		608,604		84,950		3,960,932		6,608,215		832,226		103,268		7,543,709
Income tax expense		1,057,703		233,947		14,675		1,306,325		2,135,217		319,908		22,209		2,477,334
Segment net income	$	2,209,675	$	374,657	$	70,275	$	2,654,607	$	4,472,998	$	512,318	$	81,059	$	5,066,375
Segment assets									$	1,249,985,668	$	5,044,818	$	2,130,001	$	1,257,160,487

		Three Months Ended June 30, 2012							Six Months Ended June 30, 2012
		Core Banking		Wealth Management Group Services		Holding Company And Other		Consolidated Totals	Core Banking		Wealth Management Group Services		Holding Company And Other			Consolidated Totals
Net interest income	$	11,378,763	$	-	$	1,418	$	11,380,181	$	23,406,293	$	-	$	5,094		$	23,411,387
Provision for loan losses		51,593		-		-		51,593		528,897		-		-			528,897
Net interest income after provision for loan losses		11,327,170		-		1,418		11,328,588		22,877,396		-		5,094			22,882,490
Other operating income		2,121,404		1,726,812		263,939		4,112,155		5,191,434		3,502,388		308,730			9,002,552
Other operating expenses		10,255,351		1,407,501		218,569		11,881,421		19,568,445		2,842,537		401,659			22,812,641
Income or (loss) before income tax expense		3,193,223		319,311		46,788		3,559,322		8,500,385		659,851		(87,835	)		9,072,401
Income tax expense (benefit)		991,882		122,743		657		1,115,282		2,829,753		253,647		(69,572	)		3,013,828
Segment net income (loss)	$	2,201,341	$	196,568	$	46,131	$	2,444,040	$	5,670,632	$	406,204	$	(18,263	)	$	6,058,573
Segment assets									$	1,259,535,663	$	5,355,782	$	2,567,652		$	1,267,459,097