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Segments
 6 Months Ended
Jun. 30, 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
               
June 30, 2016
 
$
2,391,120
  
$
50,178
  
$
282,570
  
$
(271,172
)
 
$
2,452,696
 
December 31, 2015
  
2,340,566
   
57,208
   
286,936
   
(275,644
)
  
2,409,066
 
                     
For the three months ended June 30,
                 
2016
                    
Interest income
 
$
20,216
  
$
1,052
  
$
12
  
$
(13
)
 
$
21,267
 
Net interest income
  
18,989
   
915
   
(274
)
  
0
   
19,630
 
Provision for loan losses
  
(734
)
  
0
   
0
   
0
   
(734
)
Income (loss) before income tax
  
9,298
   
49
   
(274
)
  
(24
)
  
9,049
 
Net income (loss)
  
6,550
   
32
   
(129
)
  
(15
)
  
6,438
 
                     
2015
                    
Interest income
 
$
18,701
  
$
1,430
  
$
20
  
$
(20
)
 
$
20,131
 
Net interest income
  
17,717
   
1,218
   
(234
)
  
-
   
18,701
 
Provision for loan losses
  
(138
)
  
4
   
-
   
-
   
(134
)
Income (loss) before income tax
  
8,843
   
(221
)
  
(356
)
  
(23
)
  
8,243
 
Net income (loss)
  
5,935
   
(77
)
  
(225
)
  
(14
)
  
5,619
 
                     
For the six months ended June 30,
                    
2016
                    
Interest income
 
$
40,459
  
$
2,162
  
$
17
  
$
(17
)
 
$
42,621
 
Net interest income
  
38,091
   
1,847
   
(545
)
  
-
   
39,393
 
Provision for loan losses
  
(1,260
)
  
(4
)
  
-
   
-
   
(1,264
)
Income (loss) before income tax
  
16,160
   
(310
)
  
(697
)
  
(47
)
  
15,106
 
Net income (loss)
  
11,169
   
(205
)
  
(396
)
  
(30
)
  
10,538
 
                     
2015
                    
Interest income
 
$
36,922
  
$
2,761
  
$
40
  
$
(40
)
 
$
39,683
 
Net interest income
  
34,900
   
2,353
   
(461
)
  
-
   
36,792
 
Provision for loan losses
  
(794
)
  
1
   
-
   
-
   
(793
)
Income (loss) before income tax
  
15,102
   
(512
)
  
(739
)
  
(47
)
  
13,804
 
Net income (loss)
  
10,168
   
(269
)
  
(469
)
  
(30
)
  
9,400
 

(1)
Includes amounts relating to our parent company.
(2)
Includes parent company’s investment in subsidiaries and cash balances maintained at subsidiary.