Note 22. Business Segment Information

Selected financial and descriptive information is required to be disclosed for reportable operating segments, applying a “management perspective” as the basis for identifying reportable segments. The management perspective is determined by the view that management takes of the segments within the Company when making operating decisions, allocating resources, and measuring performance. The segments of the Company have been defined by the structure of the Company’s internal organization, focusing on the financial information that the Company’s operating decision-makers routinely use to make decisions about operating matters.

The Company’s primary segment, Commercial Banking, is geographically divided by markets into the secondary segments which are the five subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB, RB&T and SFC Bank. Each of these secondary segments offer similar products and services, but are managed separately due to different pricing, product demand, and consumer markets. Each offers commercial, consumer, and mortgage loans and deposit services.

The Company’s Wealth Management segment represents trust and asset management and investment management and advisory services offered at the Company’s three subsidiary banks in aggregate. This segment generates income primarily from fees charged based on assets under administration for corporate and personal trusts, custodial services, and investments managed. No assets of the subsidiary banks have been allocated to the Wealth Management segment.

The Company’s All Other segment includes the corporate operations of the parent and operations of all other consolidated subsidiaries and/or defined operating segments that fall below the segment reporting thresholds.

Note 22. Business Segment Information (continued)

Selected financial information on the Company’s business segments, with all intercompany accounts and transactions eliminated, is presented as follows as of and for the years ended December 31, 2018, 2017, and 2016:


	Commercial Banking												Wealth				Intercompany		Consolidated
	QCBT		CRBT		Guaranty Bank*		CSB		SFC Bank		RB&T		Management		All other		Eliminations		Total
Twelve Months Ended December 31, 2018
Total revenue	$	69,691,414	$	69,864,300	$	—	$	36,069,287	$	15,153,047	$	20,848,171	$	13,432,963	$	232,624	$	(871,470)	$	224,420,336
Net interest income		48,682,464		43,038,038		—		28,762,834		11,834,782		13,638,969		—		(3,561,502)		—		142,395,585
Provision		3,692,928		1,833,226		—		1,523,462		990,000		4,618,833		—		—		—		12,658,449
Net income (loss)		18,346,840		20,044,067		—		8,389,007		4,816,326		667,809		2,951,991		(12,096,341)		—		43,119,699
Goodwill		3,222,688		14,979,984		—		9,888,225		45,974,931		—		—		3,766,074		—		77,831,902
Intangibles		—		3,186,136		—		4,674,613		7,734,501		—		—		1,854,932		—		17,450,182
Total assets		1,623,368,583		1,379,222,278		—		785,363,891		632,849,228		509,621,731		—		45,671,799		(26,387,315)		4,949,710,195


Twelve Months Ended December 31, 2017
Total revenue	$	58,055,715	$	45,367,035	$	1,806,078	$	31,944,152	$	—	$	18,035,971	$	11,057,519	$	232,660	$	(499,520)	$	165,999,610
Net interest income		46,407,078		31,042,302		1,551,356		27,020,674		—		12,707,651		—		(2,663,780)		—		116,065,281
Provision		3,908,919		1,050,000		—		2,783,000		—		728,000		—		—		—		8,469,919
Net income (loss)		22,095,055		10,712,174		346,835		7,047,671		—		2,660,364		2,241,494		(9,397,086)		—		35,706,507
Goodwill		3,222,688		15,223,179		—		9,888,225		—		—		—		—		—		28,334,092
Intangibles		—		3,693,592		—		5,385,361		—		—		—		—		—		9,078,953
Total assets		1,541,777,558		1,307,376,687		—		670,516,373		—		461,650,765		—		28,267,478		(26,924,088)		3,982,664,773


Twelve Months Ended December 31, 2016
Total revenue	$	59,442,052	$	37,242,901	$	—	$	11,406,291	$	—	$	16,043,894	$	9,156,948	$	109,563	$	4,100,975	$	137,502,624
Net interest income		45,081,080		29,205,047		—		10,004,729		—		11,887,201		—		(1,661,280)		—		94,516,777
Provision		4,168,166		950,000		—		1,460,000		—		900,000		—		—		—		7,478,166
Net income (loss)		14,116,751		12,317,545		—		2,132,252		—		3,235,711		1,665,453		(5,780,925)		—		27,686,787
Goodwill		3,222,688		—		—		9,888,225		—		—		—		—		—		13,110,913
Intangibles		—		1,271,897		—		6,109,316		—		—		—		—		—		7,381,213
Total assets		1,395,785,241		913,055,738		—		600,075,798		—		391,154,780		—		34,998,902		(33,126,711)		3,301,943,748

* Represents financial results for Guaranty Bank for the period from October 1, 2017 through December 2, 2017, when Guaranty Bank was merged into CRBT.