Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Segment Reporting

SEGMENT REPORTING

The Company has two primary operating segments, Banking and Wealth Management, which are delineated by the products and services that each segment offers. The segments are evaluated separately on their individual performance, as well as their contribution to the Company as a whole.

The Banking operating segment consists of a full-service commercial bank, with locations in St. Louis, Kansas City, and Phoenix. The majority of the Company’s assets and income result from the Banking segment. All banking locations have the same product and service offerings, have similar types and classes of customers and utilize similar service delivery methods. Pricing guidelines and operating policies for products and services are the same across all regions.

The Banking operating segment also includes activities surrounding the assets acquired under FDIC loss share agreements. 

The Wealth Management segment includes the Trust division of the Bank and the state tax credit brokerage activities. The Trust division provides estate planning, investment management, and retirement planning as well as consulting on management compensation, strategic planning and management succession issues. State tax credits are part of a fee initiative designed to augment the Company’s wealth management segment and banking lines of business.

The Corporate segment’s principal activities include the direct ownership of the Company’s banking subsidiary and the issuance of debt and equity. Its principal source of liquidity is dividends from its subsidiaries and stock option exercises.

The financial information for each business segment reflects that information which is specifically identifiable or which is allocated based on an internal allocation method. There were no material intersegment revenues among the three segments. Management periodically makes changes to methods of assigning costs and income to its business segments to better reflect operating results. When appropriate, these changes are reflected in prior year information presented below.

Following are the financial results for the Company’s operating segments.

(in thousands)	Banking			Wealth Management			Corporate and Intercompany			Total
Balance Sheet Information	June 30, 2012
Portfolio loans	$	2,191,482		$	—		$	—		$	2,191,482
Goodwill	30,334			—			—			30,334
Intangibles, net	8,310			—			—			8,310
Deposits	2,588,377			32,897			(17,001		)	2,604,273
Borrowings	164,895			60,584			82,581			308,060
Total assets	3,063,807			98,668			20,659			3,183,134
	December 31, 2011
Portfolio loans	$	2,197,684		$	—		$	—		$	2,197,684
Goodwill	30,334			—			—			30,334
Intangibles, net	9,285			—			—			9,285
Deposits	2,773,482			39,440			(21,569		)	2,791,353
Borrowings	213,480			45,565			82,581			341,626
Total assets	3,278,328			90,068			9,383			3,377,779
Income Statement Information	Three months ended June 30, 2012
Net interest income (expense)	$	35,208		$	(186	)	$	(889	)	$	34,133
Provision for loan losses	281			—			—			281
Noninterest income	(1,738		)	2,577			6			845
Noninterest expense	18,304			1,919			1,191			21,414
Income (loss) before income tax expense (benefit)	14,885			472			(2,074		)	13,283
	Three months ended June 30, 2011
Net interest income (expense)	$	32,351		$	(316	)	$	(1,031	)	$	31,004
Provision for loan losses	4,575			—			—			4,575
Noninterest income	1,539			2,644			35			4,218
Noninterest expense	15,285			1,972			767			18,024
Income (loss) before income tax expense (benefit)	14,030			356			(1,763		)	12,623
Income Statement Information	Six months ended June 30, 2012
Net interest income (expense)	$	67,018		$	(314	)	$	(1,942	)	$	64,762
Provision for loan losses	4,284			—			—			4,284
Noninterest income	153			4,630			45			4,828
Noninterest expense	36,362			3,792			2,624			42,778
Income (loss) before income tax expense (benefit)	26,525			524			(4,521		)	22,528
	Six months ended June 30, 2011
Net interest income (expense)	$	56,407		$	(638	)	$	(2,057	)	$	53,712
Provision for loan losses	8,175			—			—			8,175
Noninterest income	4,616			4,482			83			9,181
Noninterest expense	30,265			3,818			1,906			35,989
Income (loss) before income tax expense (benefit)	22,583			26			(3,880		)	18,729