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Segment Information
 3 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Information
Segment Information
The Company’s operations consist of three primary segments: community banking, specialty finance and wealth management.
The three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. In addition, each segment’s customer base has varying characteristics. The community banking segment has a different regulatory environment than the specialty finance and wealth management segments. While the Company’s management monitors each of the fifteen bank subsidiaries’ operations and profitability separately, these subsidiaries have been aggregated into one reportable operating segment due to the similarities in products and services, customer base, operations, profitability measures, and economic characteristics.
The net interest income, net revenue and segment profit of the community banking segment includes income and related interest costs from portfolio loans that were purchased from the specialty finance segment. For purposes of internal segment profitability analysis, management reviews the results of its specialty finance segment as if all loans originated and sold to the community banking segment were retained within that segment’s operations, thereby causing inter-segment eliminations. Similarly, for purposes of analyzing the contribution from the wealth management segment, management allocates a portion of the net interest income earned by the community banking segment on deposit balances of customers of the wealth management segment to the wealth management segment. See Note 10 — Deposits, for more information on these deposits.
The segment financial information provided in the following tables has been derived from the internal profitability reporting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the segments are substantially similar to as those described in “Summary of Significant Accounting Policies” in Note 1 of the Company’s 2012 Form 10-K. The Company evaluates segment performance based on after-tax profit or loss and other appropriate profitability measures common to each segment. Certain indirect expenses have been allocated based on actual volume measurements and other criteria, as appropriate. Intersegment revenue and transfers are generally accounted for at current market prices. The parent and intersegment eliminations reflected parent company information and intersegment eliminations.
The following is a summary of certain operating information for reportable segments:
 

Three months ended March 31,
 
$ Change in
Contribution
 
% Change  in
Contribution
(Dollars in thousands)
2013
 
2012
 
Net interest income:
 
 
 
 
 
 
 
Community banking
$
123,434

 
$
121,134

 
$
2,300

 
2
 %
Specialty finance
31,090

 
27,586

 
3,504

 
13

Wealth management
1,264

 
1,724

 
(460
)
 
(27
)
Parent and inter-segment eliminations
(25,075
)
 
(24,549
)
 
(526
)
 
(2
)
Total net interest income
$
130,713

 
$
125,895

 
$
4,818

 
4
 %
Non-interest income:
 
 
 
 
 
 
 
Community banking
$
39,882

 
$
31,786

 
$
8,096

 
25
 %
Specialty finance
1,693

 
1,371

 
322

 
23

Wealth management
17,856

 
15,237

 
2,619

 
17

Parent and inter-segment eliminations
(2,052
)
 
(1,371
)
 
(681
)
 
(50
)
Total non-interest income
$
57,379

 
$
47,023

 
$
10,356

 
22
 %
Net revenue:
 
 
 
 
 
 
 
Community banking
$
163,316

 
$
152,920

 
$
10,396

 
7
 %
Specialty finance
32,783

 
28,957

 
3,826

 
13

Wealth management
19,120

 
16,961

 
2,159

 
13

Parent and inter-segment eliminations
(27,127
)
 
(25,920
)
 
(1,207
)
 
(5
)
Total net revenue
$
188,092

 
$
172,918

 
$
15,174

 
9
 %
Segment profit:
 
 
 
 
 
 
 
Community banking
$
33,647

 
$
26,975

 
$
6,672

 
25
 %
Specialty finance
13,774

 
12,465

 
1,309

 
11

Wealth management
2,237

 
1,496

 
741

 
50

Parent and inter-segment eliminations
(17,606
)
 
(17,726
)
 
120

 
1

Total segment profit
$
32,052

 
$
23,210

 
$
8,842

 
38
 %
Segment assets:
 
 
 
 
 
 
 
Community banking
$
16,743,196

 
$
15,640,198

 
$
1,102,998

 
7
 %
Specialty finance
3,932,552

 
3,387,001

 
545,551

 
16

Wealth management
94,918

 
95,275

 
(357
)
 
—

Parent and inter-segment eliminations
(3,696,419
)
 
(2,950,456
)
 
(745,963
)
 
(25
)
Total segment assets
$
17,074,247

 
$
16,172,018

 
$
902,229

 
6
 %