Note 8 - BUSINESS SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2023

BUSINESS SEGMENT INFORMATION

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 GB. 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 and nine months ended September 30, 2023 and 2022:

	Commercial Banking										Intercompany		Consolidated
	QCBT		CRBT		CSB		GB		All other		Eliminations		Total
	(dollars in thousands)
Three Months Ended September 30, 2023
Total revenue	$	38,165	$	43,592	$	19,225	$	34,498	$	31,878	$	(32,197)	$	135,161
Net interest income		17,198		16,852		11,136		13,743		(3,958)		284		55,255
Provision for credit losses		2,686		503		275		342		—		—		3,806
Net income (loss) from continuing operations		5,856		13,175		4,740		6,801		25,641		(31,092)		25,121
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		950		1,579		12,008		—		—		14,537
Total assets		2,433,084		2,442,263		1,417,249		2,242,638		1,146,137		(1,141,314)		8,540,057
Three Months Ended September 30, 2022
Total revenue	$	26,583	$	34,157	$	14,127	$	25,523	$	36,283	$	(36,311)	$	100,362
Net interest income		18,117		17,160		10,183		18,196		(3,242)		355		60,769
Provision for loan/lease losses		554		(35)		(269)		(250)		—		—		—
Net income (loss) from continuing operations		7,758		14,475		4,106		9,196		29,542		(35,783)		29,294
Goodwill		3,223		14,980		9,888		109,516		—		—		137,607
Intangibles		—		1,344		2,184		14,018		—		—		17,546
Total assets		2,218,166		2,108,614		1,270,426		2,107,407		1,045,774		(1,020,338)		7,730,049
Nine Months Ended September 30, 2023
Total revenue	$	106,664	$	138,018	$	53,126	$	90,443	$	101,472	$	(103,606)	$	386,117
Net interest income		50,590		50,254		32,683		42,716		(11,911)		938		165,270
Provision for loan/lease losses		7,879		2,499		965		(3)		—		—		11,340
Net income (loss) from continuing operations		17,710		48,928		14,113		17,344		82,266		(99,658)		80,703
Goodwill		3,223		14,980		9,888		110,936		—		—		139,027
Intangibles		—		950		1,579		12,008		—		—		14,537
Total assets		2,433,084		2,442,263		1,417,249		2,242,638		1,146,137		(1,141,314)		8,540,057
Nine Months Ended September 30, 2022
Total revenue	$	72,785	$	91,083	$	37,534	$	57,036	$	91,989	$	(92,383)	$	258,044
Net interest income		53,971		46,576		29,365		42,789		(7,845)		1,046		165,902
Provision for loan/lease losses		(88)		(971)		(554)		9,897		—		—		8,284
Net income (loss) from continuing operations		26,153		38,860		11,606		13,327		68,982		(90,768)		68,160
Goodwill		3,223		14,980		9,888		109,516		—		—		137,607
Intangibles		—		1,344		2,184		14,018		—		—		17,546
Total assets		2,218,166		2,108,614		1,270,426		2,107,407		1,045,774		(1,020,338)		7,730,049