National Commerce Corp - S-1/A filing on 2015-03-10

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Reconciliation of Reportable Segment Revenue, Expenses and Profit

The following table is a reconciliation of the reportable segment revenues, expenses and profit to the Company’s consolidated totals.


	Retail and Commercial Banking		Mortgage Division (1)		Receivables Factoring			Elimination Entries (2)			Total
Twelve Months Ended December 31, 2014:
Interest income	$	27,144		410		4,345			(557	)		31,342
Interest expense		2,746		123		731			(731	)		2,869

Net interest income		24,398		287		3,614			174			28,473
Provision for loan and lease losses		—		—		804			174			978
Noninterest income		811		4,199		22			—			5,032
Noninterest expense		18,048		3,681		1,724			—			23,453

Net earnings before tax & noncontrolling interest		7,161		805		1,108			—			9,074
Income tax expense		2,627		306		226			—			3,159
Noncontrolling interest		—		—		(512	)		—			(512	)

Net earnings attributable to National Commerce Corporation	$	4,534		499		370			—			5,403

Total assets as of December 31, 2014	$	1,099,191		9,329		105,330			(75,424	)		1,138,426

Twelve Months Ended December 31, 2013:
Interest income	$	22,893		419		—			—			23,312
Interest expense		2,471		142		—			—			2,613

Net interest income		20,422		277		—			—			20,699
Provision for loan and lease losses		—		—		—			—			—
Noninterest income		617		4,685		—			—			5,302
Noninterest expense		15,819		3,866		—			—			19,685

Net earnings before tax & noncontrolling interest		5,220		1,096		—			—			6,316
Income tax expense		1,894		416		—			—			2,310
Noncontrolling interest		—		—		—			—			—

Net earnings attributable to National Commerce Corporation	$	3,326		680		—			—			4,006

Total assets as of December 31, 2013	$	784,622		7,159		—			—			791,781

Twelve Months Ended December 31, 2012:
Interest income	$	19,517		435		—			—			19,952
Interest expense		3,128		152		—			—			3,280

Net interest income		16,389		283		—			—			16,672
Provision for loan and lease losses		125		—		—			—			125
Noninterest income		760		3,905		—			—			4,665
Noninterest expense		14,912		3,172		—			—			18,084

Net earnings before tax & noncontrolling interest		2,112		1,016		—			—			3,128
Income tax expense		685		386		—			—			1,071
Noncontrolling interest		—		—		—			—			—

Net earnings attributable to National Commerce Corporation	$	1,427		630		—			—			2,057

Total assets as of December 31, 2012	$	679,523		13,836		—			—			693,359

(1)	Noninterest income for mortgage division includes intercompany income allocation.

(2)	Entry to remove intercompany interest allocated to the receivables factoring segment and other purchase related adjustments. For segment reporting purposes, we allocate a funding cost of Fed Funds plus 2.5% to the factoring segment.