SEGMENT REPORTING

12 Months Ended

Dec. 31, 2013

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

(19)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:

Year ended December 31, 2013	Core Banking		Wealth Management Group		Holding Company And Other			Consolidated Totals
Net interest income	$	46,621,005	$	-	$	9,714		$	46,630,719
Provision for loan losses		2,754,726		-		-			2,754,726
Net interest income after provision for loan losses		43,866,279		-		9,714			43,875,993
Other operating income		9,912,614		7,344,045		819,945			18,076,604
Other operating expenses		43,134,860		5,480,218		784,166			49,399,244
Income (loss) before income tax expense		10,644,033		1,863,827		45,493			12,553,353
Income tax expense (benefit)		3,140,245		716,455		(34,403	)		3,822,297
Segment net income (loss)	$	7,503,788	$	1,147,372	$	79,896		$	8,731,056
Segment assets	$	1,469,482,048	$	4,943,092	$	1,718,313		$	1,476,143,453

Year ended December 31, 2012	Core Banking		Wealth Management Group		Holding Company And Other			Consolidated Totals
Net interest income	$	46,833,743	$	-	$	8,130		$	46,841,873
Provision for loan losses		827,567		-		-			827,567
Net interest income after provision for loan losses		46,006,176		-		8,130			46,014,306
Other operating income		9,596,323		6,826,976		764,442			17,187,741
Other operating expenses		40,550,209		5,389,017		856,099			46,795,325
Income (loss) before income tax expense		15,052,290		1,437,959		(83,527	)		16,406,722
Income tax expense (benefit)		4,953,549		552,751		(121,818	)		5,384,482
Segment net income (loss)	$	10,098,741	$	885,208	$	38,291		$	11,022,240
Segment assets	$	1,240,751,558	$	5,155,950	$	2,252,200		$	1,248,159,708

Year ended December 31, 2011	Core Banking		Wealth Management Group		Holding Company And Other		Consolidated Totals
Net interest income	$	43,906,319	$	-	$	8,729	$	43,915,048
Provision for loan losses		958,333		-		-		958,333
Net interest income after provision for loan losses		42,947,986		-		8,729		42,956,715
Other operating income		9,426,994		6,709,685		1,325,908		17,462,587
Other operating expenses		38,293,287		5,851,825		703,285		44,848,397
Income before income tax expense		14,081,693		857,860		631,352		15,570,905
Income tax expense		4,528,446		331,872		172,832		5,033,150
Segment net income	$	9,553,247	$	525,988	$	458,520	$	10,537,755
Segment assets	$	1,207,464,195	$	5,729,479	$	3,065,913	$	1,216,259,587