SEGMENT REPORTING

6 Months Ended

Jun. 30, 2011

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

NOTE 11 - SEGMENT REPORTING

The Company is a financial holding company with subsidiaries engaged in the business of banking and activities closely related to banking.  The Company determines reportable segments based upon the services offered, the significance of those services to the Company's financial condition and operating results and management's regular review of the operating results of those services.  The Company's primary segment is Community Banking, which includes providing a full range of deposit products, commercial loans and consumer loans.  The Company has also designated two additional reportable segments -- Insurance Agencies and General Corporate and Other.  The Company's insurance agencies serve as agents in the sale of title insurance, commercial lines of insurance and full lines of property and casualty, life, health and employee benefits products and services.  The General Corporate and Other operating segment includes leasing, mortgage lending, trust services, credit card activities, investment services and other activities not allocated to the Community Banking or Insurance Agencies operating segments.

Results of operations and selected financial information by operating segment for the three-month and six-month periods ended June 30, 2011 and 2010 were as follows:

						General
	Community			Insurance		Corporate
	Banking			Agencies		and Other			Total
	(In thousands)
Three months ended June 30, 2011:
Results of Operations
Net interest revenue	$	102,880		$	84	$	6,948		$	109,912
Provision for credit losses		32,534			-		(294	)		32,240
Net interest revenue after provision for credit losses		70,346			84		7,242			77,672
Noninterest revenue		40,913			22,890		11,341			75,144
Noninterest expense		91,936			19,011		26,122			137,069
Income (loss) before income taxes		19,323			3,963		(7,539	)		15,747
Income tax expense (benefit)		4,063			1,576		(2,718	)		2,921
Net income (loss)	$	15,260		$	2,387	$	(4,821	)	$	12,826
Selected Financial Information
Total assets at end of period	$	10,483,137		$	171,122	$	2,712,791		$	13,367,050
Depreciation and amortization		6,107			972		1,069			8,148
Three months ended June 30, 2010:
Results of Operations
Net interest revenue	$	99,271		$	146	$	9,912		$	109,329
Provision for credit losses		58,789			-		3,565			62,354
Net interest revenue after provision for credit losses		40,482			146		6,347			46,975
Noninterest revenue		27,474			21,625		7,987			57,086
Noninterest expense		77,975			18,074		23,967			120,016
(Loss) income before income taxes		(10,019	)		3,697		(9,633	)		(15,955	)
Income tax (benefit) expense		(2,132	)		1,457		(2,720	)		(3,395	)
Net (loss) income	$	(7,887	)	$	2,240	$	(6,913	)	$	(12,560	)
Selected Financial Information
Total assets at end of period	$	10,956,724		$	173,210	$	2,291,070		$	13,421,004
Depreciation and amortization		6,678			1,104		564			8,346

						General
	Community			Insurance		Corporate
	Banking			Agencies		and Other			Total
	(In thousands)
Six months ended June 30, 2011:
Results of Operations
Net interest revenue	$	205,543		$	179	$	13,627		$	219,349
Provision for credit losses		85,775			-		(56	)		85,719
Net interest revenue after provision for credit losses		119,768			179		13,683			133,630
Noninterest revenue		68,905			45,427		29,123			143,455
Noninterest expense		174,654			37,063		55,362			267,079
Income (loss) before income taxes		14,019			8,543		(12,556	)		10,006
Income tax expense (benefit)		1,962			3,401		(7,689	)		(2,326	)
Net income (loss)	$	12,057		$	5,142	$	(4,867	)	$	12,332
Selected Financial Information
Total assets at end of period	$	10,483,137		$	171,122	$	2,712,791		$	13,367,050
Depreciation and amortization		12,381			1,946		2,149			16,476
Six months ended June 30, 2010:
Results of Operations
Net interest revenue	$	200,611		$	294	$	20,306		$	221,211
Provision for credit losses		100,738			-		5,135			105,873
Net interest revenue after provision for credit losses		99,873			294		15,171			115,338
Noninterest revenue		53,766			43,359		23,293			120,418
Noninterest expense		155,585			35,477		49,437			240,499
(Loss) income before income taxes		(1,946	)		8,176		(10,973	)		(4,743	)
Income tax (benefit) expense		(238	)		3,239		(3,580	)		(579	)
Net (loss) income	$	(1,708	)	$	4,937	$	(7,393	)	$	(4,164	)
Selected Financial Information
Total assets at end of period	$	10,956,724		$	173,210	$	2,291,070		$	13,421,004
Depreciation and amortization		13,634			2,164		1,106			16,904

The increased net income of the Community Banking operating segment for the three months and six months ended June 30, 2011 was primarily related to the decrease in the provision for credit losses.