Segment Reporting

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Segment Reporting

Note 22. Segment Reporting

The Company has three reportable segments: retail banking; wealth management; and mortgage banking. Revenue from retail banking activity consists primarily of interest earned on loans and investment securities and service charges on deposit accounts.

Revenues from trust and investment advisory services are composed of fees based upon the market value of assets under administration. The trust and investment advisory services are conducted by Middleburg Trust Company, which is a wholly owned subsidiary of the Company.

Information about reportable segments and reconciliation to the consolidated financial statements follows:

	2012
	Commercial & Retail Banking		Wealth Management		Mortgage Banking			Intercompany Eliminations			Consolidated
Revenues:	(In Thousands)
Interest income	$	46,095	$	10	$	2,740		$	(1,822	)	$	47,023
Wealth management fees	—		4,409		—			(140		)	4,269
Other income	3,895		—		21,787			(497		)	25,185
Total operating income	49,990		4,419		24,527			(2,459		)	76,477
Expenses:
Interest expense	8,433		—		2,213			(1,822		)	8,824
Salaries and employee benefits	15,678		2,208		12,531			—			30,417
Provision for loan losses	3,410		—		28			—			3,438
Other expense	17,413		1,300		5,766			(637		)	23,842
Total operating expenses	44,934		3,508		20,538			(2,459		)	66,521
Income before income taxes and non-controlling interest	5,056		911		3,989			—			9,956
Income tax expense	1,593		373		—			—			1,966
Net income	3,463		538		3,989			—			7,990
Non-controlling interest in consolidated subsidiary	—		—		(1,504		)	—			(1,504		)
Net income attributable to Middleburg Financial Corporation	$	3,463	$	538	$	2,485		$	—		$	6,486
Total assets	$	1,216,813	$	6,416	$	94,282		$	(80,730	)	$	1,236,781
Capital expenditures	947		—		98						1,045
Goodwill and other intangibles	—		4,150		1,867			—			6,017

	2011
	Commercial & Retail Banking		Wealth Management		Mortgage Banking			Intercompany Eliminations			Consolidated
Revenues:	(In Thousands)
Interest income	$	47,080	$	14	$	2,931		$	(1,389	)	$	48,636
Wealth management fees	—		4,150		—			(121		)	4,029
Other income	3,521		—		12,543			(131		)	15,933
Total operating income	50,601		4,164		15,474			(1,641		)	68,598
Expenses:
Interest expense	10,374		—		1,706			(1,389		)	10,691
Salaries and employee benefits	15,390		2,369		9,614			—			27,373
Provision for loan losses	3,141		—		(257		)	—			2,884
Other expense	15,531		1,232		5,127			(252		)	21,638
Total operating expenses	44,436		3,601		16,190			(1,641		)	62,586
Income (loss) before income taxes and non-controlling interest	6,165		563		(716		)	—			6,012
Income tax expense	1,230		120		—			—			1,350
Net income (loss)	4,935		443		(716		)	—			4,662
Non-controlling interest in consolidated subsidiary	—		—		298			—			298
Net income (loss) attributable to Middleburg Financial Corporation	$	4,935	$	443	$	(418	)	$	—		$	4,960
Total assets	$	1,262,358	$	5,975	$	101,876		$	(177,349	)	$	1,192,860
Capital expenditures	1,197		3		151			—			1,351
Goodwill and other intangibles	—		4,322		1,867			—			6,189

	2010
	Commercial & Retail Banking			Wealth Management			Mortgage Banking			Intercompany Eliminations			Consolidated
Revenues:	(In Thousands)
Interest income	$	47,098		$	9		$	2,315		$	(1,391	)	$	48,031
Wealth management fees	—			3,782			—			(103		)	3,957
Other income	2,703			—			14,141			(11		)	16,833
Total operating income	49,801			3,791			16,456			(1,505		)	68,821
Expenses:
Interest expense	13,783			—			1,782			(1,390		)	14,175
Salaries and employee benefits	12,887			2,588			8,628			—			24,103
Provision for loan losses	11,122			—			883			—			12,005
Other expense	17,589			1,356			4,318			(115		)	23,148
Total operating expenses	55,381			3,944			15,611			(1,505		)	73,431
Income (loss) before income taxes and non-controlling interest	(5,580		)	(153		)	845			—			(4,888		)
Income tax expense (benefit)	(2,575		)	13			—			—			(2,562		)
Net income (loss)	(3,005		)	(166		)	845			—			(2,326		)
Non-controlling interest in consolidated subsidiary	—			—			(362		)	—			(362		)
Net income (loss) attributable to Middleburg Financial Corporation	$	(3,005	)	$	(166	)	$	483		$	—		$	(2,688	)
Total assets	$	1,081,231		$	5,931		$	70,512		$	(53,107	)	$	1,104,567
Capital expenditures	852			—			87			—			939
Goodwill and other intangibles	—			4,493			1,867			—			6,360