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Segment reporting (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Financial Information

The following tables provide segment financial information for the three and nine months ended September 30, 2019 and 2018 as follows:



Three Months Ended September 30, 2019		Banking				Mortgage				Consolidated
Net interest income		$	58,350			$	(45	)		$	58,305
Provision for loan loss		1,831				—				1,831
Mortgage banking income		10,693				23,591				34,284
Change in fair value of mortgage servicing rights, net of hedging⁽¹⁾		—				(5,091		)		(5,091		)
Other noninterest income		8,952				—				8,952
Depreciation and amortization		1,255				125				1,380
Amortization of intangibles		1,197				—				1,197
Other noninterest mortgage banking expense		8,087				15,561				23,648
Other noninterest expense⁽²⁾		36,598				112				36,710
Income before income taxes		$	29,027			$	2,657			$	31,684
Income tax expense										7,718
Net income										$	23,966
Total assets		$	5,730,492			$	358,403			$	6,088,895
Goodwill		168,486				—				168,486


(1)	Included in mortgage banking income.


(2)	Included $295 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and the pending Farmers National merger and $112 in the Mortgage segment related to mortgage business restructuring charges.



Three Months Ended September 30, 2018		Banking				Mortgage				Consolidated
Net interest income		$	52,733			$	22			$	52,755
Provision for loan loss		1,818				—				1,818
Mortgage banking income		7,417				21,933				29,350
Change in fair value of mortgage servicing rights, net of hedging⁽¹⁾		—				(2,701		)		(2,701		)
Other noninterest income		7,706				—				7,706
Depreciation and amortization		896				117				1,013
Amortization of intangibles		777				—				777
Other noninterest mortgage banking expense		6,383				18,704				25,087
Other noninterest expense		30,336				—				30,336
Income before income taxes		$	27,646			$	433			$	28,079
Income tax expense										6,702
Net income										$	21,377
Total assets		$	4,637,097			$	421,070			$	5,058,167
Goodwill		137,090				100				137,190


(1)	Included in mortgage banking income.



Nine Months Ended September 30, 2019		Banking				Mortgage				Consolidated
Net interest income		$	168,322			$	22			$	168,344
Provision for loan loss		4,103				—				4,103
Mortgage banking income		20,530				64,982				85,512
Change in fair value of mortgage servicing rights, net of hedging⁽¹⁾		—				(10,772		)		(10,772		)
Other noninterest income		25,423				—				25,423
Depreciation and amortization		3,431				399				3,830
Amortization of intangibles		3,180				—				3,180
Other noninterest mortgage banking expense		15,090				50,608				65,698
Other noninterest expense⁽²⁾		107,452				1,995				109,447
Income before income taxes		$	81,019			$	1,230			$	82,249
Income tax expense										20,007
Net income										62,242
Total assets		$	5,730,492			$	358,403			$	6,088,895
Goodwill⁽³⁾		168,486				—				168,486


(1)	Included in mortgage banking income.


(2)	Included $4,699 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and the pending Farmers National merger and $1,995 in the Mortgage segment related to mortgage business restructuring charges.


(3)	Recognized $100 of impairment of goodwill related to the sale of the third party origination channel in the Mortgage segment. See Note 6. Goodwill and intangible assets.



Nine Months Ended September 30, 2018		Banking				Mortgage				Consolidated
Net interest income		$	153,173			$	(472	)		$	152,701
Provision for loan loss		3,198				—				3,198
Mortgage banking income		20,419				67,437				87,856
Change in fair value of mortgage servicing rights, net of hedging⁽¹⁾		—				(6,192		)		(6,192		)
Other noninterest income		21,729				—				21,729
Depreciation and amortization		2,864				387				3,251
Amortization of intangibles		2,432				—				2,432
Other noninterest mortgage banking expense		17,129				56,926				74,055
Other noninterest expense⁽²⁾		89,984				—				89,984
Income before income taxes		$	79,714			$	3,460			$	83,174
Income tax expense										19,978
Net income										63,196
Total assets		$	4,637,097			$	421,070			$	5,058,167
Goodwill		137,090				100				137,190


(1)	Included in mortgage banking income.


(2)	Included $1,193 in merger costs related to the acquisition of the Clayton Banks and $671 in offering costs in the Banking segment related to the follow-on secondary offering.