Note 23. 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 four subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB 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. The financial results for RB&T prior to the sale of the majority of its assets and liabilities at November 30, 2019 are also included in the Company’s All Other segment as are the assets held for sale at December 31, 2019.

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, 2019, 2018, and 2017:


	Commercial Banking								Wealth				Intercompany		Consolidated
	QCBT		CRBT*		CSB		SFC Bank		Management		All other*		Eliminations		Total
	(dollars in thousands)
Twelve Months Ended December 31, 2019
Total revenue	$	79,418	$	93,147	$	41,589	$	31,569	$	16,553	$	32,791	$	(223)	$	294,844
Net interest income		52,097		44,310		31,370		21,422		—		6,360		—		155,559
Provision		3,433		1,080		679		1,315		—		559		—		7,066
Net income (loss) from continuing operations		19,006		26,940		10,824		8,243		3,567		(11,172)		—		57,408
Goodwill		3,223		14,980		9,888		45,975		—		682		—		74,748
Intangibles		—		2,684		3,980		6,802		—		1,504		—		14,970
Total assets		1,682,477		1,572,324		853,834		748,753		—		116,968		(65,306)		4,909,050

Twelve Months Ended December 31, 2018
Total revenue	$	69,691	$	69,864	$	36,069	$	15,152	$	13,433	$	21,082	$	(871)	$	224,420
Net interest income		48,682		43,038		28,763		11,835		—		10,077		—		142,395
Provision		3,693		1,833		1,523		990		—		4,619		—		12,658
Net income (loss) from continuing operations		18,347		20,044		8,389		4,816		2,952		(11,428)		—		43,120
Goodwill		3,223		14,980		9,888		45,975		—		3,766		—		77,832
Intangibles		—		3,186		4,675		7,735		—		1,854		—		17,450
Total assets		1,623,369		1,379,222		785,364		632,849		—		555,293		(26,387)		4,949,710

Twelve Months Ended December 31, 2017
Total revenue	$	58,056	$	45,367	$	31,944	$	—	$	11,058	$	20,074	$	(500)	$	165,999
Net interest income		46,407		31,042		27,021		—		—		11,595		—		116,065
Provision for loan/lease losses		3,909		1,050		2,783		—		—		728		—		8,470
Net income (loss)		22,095		10,712		7,048		—		2,241		(6,389)		—		35,707
Goodwill		3,223		15,223		9,888		—		—		—		—		28,334
Intangibles		—		3,694		5,385		—		—		—		—		9,079
Total assets		1,541,778		1,307,377		670,516		—		—		489,918		(26,924)		3,982,665

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

financial results for RB&T for the years 2017, 2018 and the period from January 1, 2019 through November 30, 2019, prior to the sale of the majority of its assets

and liabilities.