Note 8 - BUSINESS SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Business Segment Information

NOTE 8 – 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 offers similar products and services, but is 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 is presented as follows as of and for the three months ended March 31, 2022 and 2021:

	Commercial Banking										Intercompany		Consolidated
	QCBT		CRBT		CSB		SFCB		All other		Eliminations		Total
	(dollars in thousands)
Three Months Ended March 31, 2022
Total revenue	$	22,480	$	25,211	$	11,316	$	7,844	$	28,912	$	(29,068)	$	66,695
Net interest income		17,314		14,323		9,331		6,528		(2,109)		346		45,733
Provision for credit losses		(1,259)		(770)		(385)		(502)		—		—		(2,916)
Net income (loss) from continuing operations		9,970		11,129		4,126		3,104		23,827		(28,532)		23,624
Goodwill		3,223		14,980		9,888		45,975		—		—		74,066
Intangibles		—		1,583		2,497		4,776		—		—		8,856
Total assets		2,195,894		1,947,737		1,184,708		956,345		839,362		(948,227)		6,175,819
Three Months Ended March 31, 2021
Total revenue	$	21,284	$	30,357	$	10,423	$	8,746	$	23,223	$	(22,979)	$	71,054
Net interest income		15,786		13,606		8,368		6,069		(2,102)		248		41,975
Provision for loan/lease losses		2,112		2,184		1,366		1,051		—		—		6,713
Net income (loss) from continuing operations		7,164		11,396		2,062		2,269		17,948		(22,857)		17,982
Goodwill		3,223		14,980		9,888		45,975		—		—		74,066
Intangibles		—		2,067		3,143		5,663		—		—		10,873
Total assets		2,101,634		1,847,070		1,041,861		818,605		791,254		(955,277)		5,645,147