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Segments
 3 Months Ended
Mar. 31, 2014
Segments [Abstract]  
Segments
5. Segments

Our reportable segments are based upon legal entities.  We currently have two reportable segments:  Independent Bank (“IB” or “Bank”) and Mepco.  These business segments are also differentiated based on the products and services provided.  We evaluate performance based principally on net income (loss) of the respective reportable segments.

In the normal course of business, our IB segment provides funding to our Mepco segment through an intercompany line of credit priced at the prime rate of interest as published in the Wall Street Journal. Our IB segment also provides certain administrative services to our Mepco segment which are reimbursed at an agreed upon rate. These intercompany transactions are eliminated upon consolidation. The only other material intersegment balances and transactions are investments in subsidiaries at the parent entities and cash balances on deposit at our IB segment.
A summary of selected financial information for our reportable segments follows:

 
 
IB
  
Mepco
  
Other(1)
  
Elimination(2)
  
Total
 
 
 
(In thousands)
 
Total assets
 
  
  
  
  
 
March 31, 2014
 
$
2,161,267
  
$
87,461
  
$
277,271
  
$
(266,360
)
 
$
2,259,639
 
December 31, 2013
  
2,104,550
   
94,648
   
272,348
   
(261,603
)
  
2,209,943
 
 
                    
For the three months ended March 31,
                 
2014
                    
Interest income
 
$
18,198
  
$
2,085
  
$
-
  
$
-
  
$
20,283
 
Net interest income
  
17,083
   
1,682
   
(287
)
  
-
   
18,478
 
Provision for loan losses
  
443
   
(15
)
  
-
   
-
   
428
 
Income (loss) before income tax
  
4,678
   
356
   
(405
)
  
(24
)
  
4,605
 
Net income (loss)
  
3,182
   
243
   
(263
)
  
(24
)
  
3,138
 
 
                    
2013
                    
Interest income
 
$
18,780
  
$
3,170
  
$
-
  
$
-
  
$
21,950
 
Net interest income
  
17,616
   
2,521
   
(581
)
  
-
   
19,556
 
Provision for loan losses
  
(687
)
  
(4
)
  
-
   
-
   
(691
)
Income (loss) before income tax
  
6,819
   
823
   
(1,776
)
  
(24
)
  
5,842
 
Net income (loss)
  
7,064
   
543
   
(1,776
)
  
(24
)
  
5,807
 
 
(1)Includes amounts relating to our parent company and certain insignificant operations.
(2)Includes parent company's investment in subsidiaries and cash balances maintained at subsidiary.