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Segments
 3 Months Ended
Mar. 31, 2016
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, 2016
 
$
2,425,152
  
$
50,515
  
$
275,315
  
$
(263,862
)
 
$
2,487,120
 
December 31, 2015
  
2,340,566
   
57,208
   
286,936
   
(275,644
)
  
2,409,066
 
                     
For the three months ended March 31,
                    
2016
                    
Interest income
 
$
20,243
  
$
1,110
  
$
5
  
$
(4
)
 
$
21,354
 
Net interest income
  
19,102
   
932
   
(271
)
  
-
   
19,763
 
Provision for loan losses
  
(526
)
  
(4
)
  
-
   
-
   
(530
)
Income (loss) before income tax
  
6,862
   
(359
)
  
(423
)
  
(23
)
  
6,057
 
Net income (loss)
  
4,619
   
(237
)
  
(267
)
  
(15
)
  
4,100
 
                     
2015
                    
Interest income
 
$
18,221
  
$
1,331
  
$
20
  
$
(20
)
 
$
19,552
 
Net interest income
  
17,183
   
1,135
   
(227
)
  
-
   
18,091
 
Provision for loan losses
  
(656
)
  
(3
)
  
-
   
-
   
(659
)
Income (loss) before income tax
  
6,259
   
(291
)
  
(383
)
  
(24
)
  
5,561
 
Net income (loss)
  
4,233
   
(192
)
  
(244
)
  
(16
)
  
3,781
 
 
(1)
Includes amounts relating to our parent company.
(2)
Includes parent company's investment in subsidiaries and cash balances maintained at subsidiary.