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Note 22 - Business Segment Information
12 Months Ended
Dec. 31, 2022
Business Segment Information  
Business Segment Information

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 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 GB. 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 is presented as follows as of and for the years ended December 31, 2022, 2021, and 2020:

Commercial Banking

Intercompany

Consolidated

    

QCBT

    

CRBT

    

CSB

    

GB*

    

All other

    

Eliminations

    

Total

(dollars in thousands)

Year Ended December 31, 2022

 

  

 

  

 

  

 

  

 

  

 

  

 

Total revenue

$

103,621

$

128,070

$

54,129

$

87,880

$

131,922

$

(132,322)

$

373,300

Net interest income

 

71,604

 

65,392

 

40,781

 

63,734

 

(11,779)

 

1,388

 

231,120

Provision for loan/lease losses

 

1,073

 

(961)

 

(1,335)

 

9,507

 

 

 

8,284

Net income (loss) from continuing operations

 

33,850

 

53,576

 

17,225

 

24,289

 

100,303

 

(130,177)

 

99,066

Goodwill

 

3,223

 

14,980

 

9,888

 

109,516

 

 

 

137,607

Intangibles

 

 

1,225

 

2,027

 

13,507

 

 

 

16,759

Total assets

 

2,312,013

 

2,185,500

 

1,297,812

 

2,146,474

 

1,086,351

 

(1,079,313)

 

7,948,837

Year Ended December 31, 2021

 

  

 

  

 

  

 

  

 

  

 

  

 

Total revenue

$

88,689

$

129,080

$

43,945

$

38,342

$

119,451

$

(118,930)

$

300,577

Net interest income

 

66,232

 

57,354

 

35,512

 

26,351

 

(8,479)

 

1,263

 

178,233

Provision for loan/lease losses

 

1,519

 

(697)

 

2,219

 

445

 

 

 

3,486

Net income (loss) from continuing operations

 

34,616

 

55,411

 

12,802

 

14,579

 

99,331

 

(117,834)

 

98,905

Goodwill

 

3,223

 

14,980

 

9,888

 

45,975

 

 

 

74,066

Intangibles

 

 

1,702

 

2,653

 

4,994

 

 

 

9,349

Total assets

 

2,142,344

 

2,030,279

 

1,168,606

 

882,885

 

845,120

 

(973,102)

 

6,096,132

Year 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

 

2,153,773

 

1,957,695

 

1,004,183

 

779,956

 

134,407

 

(324,971)

 

5,705,043

* On April 1, 2022, the Company acquired GFED and merged its subsidiary bank, Guaranty Bank, into Springfield First Community Bank with the combined bank operating under the Guaranty Bank name.