Note 23 - Business Segment Information

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Business Segment Information

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 Commercial Banking business is geographically divided by markets into the operating segments which are the four subsidiary banks wholly-owned by the Company: QCBT, CRBT, CSB and SFCB. Each of these operating 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 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.  

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, 2020, 2019, and 2018:

	Commercial Banking										Intercompany		Consolidated
	QCBT		CRBT		CSB		SFCB		All other		Eliminations		Total
	(dollars in thousands)
Twelve Months Ended December 31, 2020*
Total revenue	$	92,336	$	125,416	$	50,448	$	42,036	$	2,197	$	(262)	$	312,171
Net interest income		63,366		52,857		31,570		24,759		(6,633)		1,031		166,950
Provision for loan/lease losses		21,612		19,438		9,243		5,411		—		—		55,704
Net income (loss) from continuing operations		21,557		33,890		11,379		12,797		(19,041)		—		60,582
Goodwill		3,223		14,980		9,888		45,975		—		—		74,066
Intangibles		—		2,189		3,305		5,887		—		—		11,381
Total assets		2,149,469		1,952,308		1,000,670		779,956		125,365		(324,971)		5,682,797
Twelve Months Ended December 31, 2019*
Total revenue	$	87,433	$	96,631	$	42,059	$	31,569	$	38,758	$	(1,606)	$	294,844
Net interest income		52,097		44,310		31,370		21,422		6,360		—		155,559
Provision for loan/lease losses		3,433		1,080		679		1,315		559		—		7,066
Net income (loss) from continuing operations		21,607		27,716		10,787		8,244		(10,946)		—		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		853,833		748,753		116,968		(65,305)		4,909,050
Twelve Months Ended December 31, 2018*
Total revenue	$	77,129	$	73,208	$	36,649	$	15,153	$	23,152	$	(871)	$	224,420
Net interest income		48,682		43,038		28,763		11,835		10,077		—		142,395
Provision for loan/lease losses		3,693		1,833		1,523		990		4,619		—		12,658
Net income (loss)		20,559		20,680		8,449		4,816		(11,384)		—		43,120
Goodwill		3,223		14,980		9,888		45,975		3,766		—		77,832
Intangibles		—		3,186		4,675		7,734		1,855		—		17,450
Total assets		1,623,369		1,379,222		785,364		632,849		555,293		(26,387)		4,949,710

*    Includes financial results for RB&T for the year 2018 and the period from January 1, 2019 through November 30, 2019, prior to the sale of the majority of

its assets and liabilities. Includes financial results for the Bates Companies for the years October 1, 2018 through December 31, 2018 after the purchase of the

companies, the year 2019 and the period from January 1, 2020 through August 12, 2020, prior to the sale of the companies.