SEGMENT REPORTING

9 Months Ended

Sep. 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 September 30, 2013								Nine Months Ended September 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	$	11,514,644	$	-	$	2,007		$	11,516,651	$	34,553,827	$	-	$	7,563		$	34,561,390
Provision for loan losses		873,704		-		-			873,704		1,755,188		-		-			1,755,188
Net interest income after provision for loan losses		10,640,940		-		2,007			10,642,947		32,798,639		-		7,563			32,806,202
Other operating income		2,402,021		1,813,113		135,519			4,350,653		6,714,682		5,448,240		684,446			12,847,368
Other operating expenses		10,275,098		1,371,418		166,186			11,812,702		30,137,242		4,174,319		617,402			34,928,963
Income before income tax expense		2,767,863		441,695		(28,660	)		3,180,898		9,376,079		1,273,921		74,607			10,724,607
Income tax expense		860,187		169,788		(28,247	)		1,001,728		2,995,405		489,695		(6,038	)		3,479,062
Segment net income	$	1,907,676	$	271,907	$	(413	)	$	2,179,170	$	6,380,674	$	784,226	$	80,645		$	7,245,545
Segment assets										$	1,334,375,485	$	5,023,415	$	1,691,868		$	1,341,090,768

		Three Months Ended September 30, 2012								Nine Months Ended September 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	$	11,788,521	$	-	$	1,517		$	11,790,038	$	35,194,815	$	-		6,611		$	35,201,426
Provision for loan losses		225,000		-		-			225,000		753,897		-		-			753,897
Net interest income after provision for loan losses		11,563,521		-		1,517			11,565,038		34,440,918		-		6,611			34,447,529
Other operating income		2,112,173		1,667,628		212,918			3,992,719		7,303,607		5,170,016		521,647			12,995,270
Other operating expenses		9,887,762		1,277,545		175,154			11,340,461		29,456,209		4,120,082		576,811			34,153,102
Income before income tax expense		3,787,932		390,083		39,281			4,217,296		12,288,316		1,049,934		(48,553	)		13,289,697
Income tax expense (benefit)		1,235,752		149,948		(2,249	)		1,383,451		4,065,505		403,595		(71,821	)		4,397,279
Segment net income	$	2,552,180	$	240,135	$	41,530		$	2,833,845	$	8,222,811	$	646,339	$	23,268		$	8,892,418
Segment assets										$	1,279,106,549	$	5,249,476	$	2,623,832		$	1,286,979,857