SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2020

SEGMENT INFORMATION

SEGMENT INFORMATION

Note 18 – Segment Information

Our business segments are defined as Banking, Wealth Management, Commercial FHA Origination and Servicing, and Other. The reportable business segments are consistent with the internal reporting and evaluation of the principle lines of business of the Company. The banking segment provides a wide range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services; and corporate treasury management services. The wealth management segment consists of trust and fiduciary services, brokerage and retirement planning services. The commercial FHA origination and servicing segment provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities. The other segment includes the operating results of the parent company, our captive insurance business unit, and the elimination of intercompany transactions.

Selected business segment financial information as of and for the three months ended March 31, 2020 and 2019 were as follows:

					Commercial FHA
			Wealth		Origination and
(dollars in thousands)	Banking		Management		Servicing		Other		Total
Three Months Ended March 31, 2020
Net interest income (expense)	$	49,927	$	—	$	(64)	$	(3,212)	$	46,651
Provision for credit losses on loans		10,569		—		—		—		10,569
Noninterest income		10,213		5,677		(7,232)		(60)		8,598
Noninterest expense		37,074		3,613		2,094		(106)		42,675
Income (loss) before income taxes (benefit)		12,497		2,064		(9,390)		(3,166)		2,005
Income taxes (benefit)		3,909		205		(2,629)		(1,029)		456
Net income (loss)	$	8,588	$	1,859	$	(6,761)	$	(2,137)	$	1,549
Total assets	$	6,132,963	$	21,875	$	81,394	$	(28,002)	$	6,208,230
Three Months Ended March 31, 2019
Net interest income (expense)	$	48,518	$	—	$	(176)	$	(2,741)	$	45,601
Provision for credit losses on loans		3,243		—		—		—		3,243
Noninterest income		8,940		4,953		3,238		(56)		17,075
Noninterest expense		35,371		3,247		2,811		(332)		41,097
Income (loss) before income taxes (benefit)		18,844		1,706		251		(2,465)		18,336
Income taxes (benefit)		4,975		140		71		(832)		4,354
Net income (loss)	$	13,869	$	1,566	$	180	$	(1,633)	$	13,982
Total assets	$	5,582,494	$	19,039	$	94,797	$	(54,550)	$	5,641,780