SEGMENT REPORTING

9 Months Ended

Sep. 30, 2015

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 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 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 nine-month periods ended September 30, 2015 and 2014 were as follows:

				General
		Community	Insurance	Corporate
		Banking	Agencies	and Other	Total
	(In thousands)
Three months ended September 30, 2015:
Results of Operations
Net interest revenue		$            101,202	$                 35	$               9,833	$            111,070
Provision for credit losses		(3,164)	-	164	(3,000)
Net interest revenue after provision for credit losses		104,366	35	9,669	114,070
Noninterest revenue		21,576	29,280	12,097	62,953
Noninterest expense		73,492	25,296	27,662	126,450
Income before income taxes		52,450	4,019	(5,896)	50,573
Income tax expense		17,517	1,609	(2,896)	16,230
Net income		$              34,933	$            2,410	$             (3,000)	$              34,343
Selected Financial Information
Total assets at end of period		$       10,131,502	$        211,536	$        3,444,386	$       13,787,424
Depreciation and amortization		5,417	1,140	$                  897	7,454
Three months ended September 30, 2014:
Results of Operations
Net interest revenue		$              96,576	$                 32	$               9,005	$            105,613
Provision for credit losses		(4,001)	-	4,001	-
Net interest revenue after provision for credit losses		100,577	32	5,004	105,613
Noninterest revenue		24,761	29,053	15,464	69,278
Noninterest expense		87,629	24,930	21,140	133,699
Income before income taxes		37,709	4,155	(672)	41,192
Income tax expense (benefit)		11,863	1,677	(1,126)	12,414
Net income		$              25,846	$            2,478	$                  454	$              28,778
Selected Financial Information
Total assets at end of period		$         9,575,772	$        207,612	$        3,288,173	$       13,071,557
Depreciation and amortization		5,545	1,322	1,028	7,895

			General
	Community	Insurance	Corporate
	Banking	Agencies	and Other	Total
	(In thousands)
Nine months ended September 30, 2015
Results of Operations
Net interest revenue	$          295,720	$                         84	$            28,648	$          324,452
Provision for credit losses	(12,963)	-	(37)	(13,000)
Net interest revenue after provision for credit losses	308,683	84	28,685	337,452
Noninterest revenue	62,193	90,801	57,588	210,582
Noninterest expense	232,704	76,110	82,746	391,560
Income  before income taxes	138,172	14,775	3,527	156,474
Income tax expense	45,417	5,923	(1,188)	50,152
Net income	$            92,755	$                    8,852	$              4,715	$          106,322
Selected Financial Information
Total assets at end of period	$     10,131,502	$                211,536	3,444,386	$     13,787,424
Depreciation and amortization	16,558	3,637	2,761	22,956
Nine months ended September 30, 2014
Results of Operations
Net interest revenue	$          284,165	$                         90	25,962	$          310,217
Provision for credit losses	(3,525)	-	3,525	-
Net interest revenue after provision for credit losses	287,690	90	22,437	310,217
Noninterest revenue	71,152	89,545	44,936	205,633
Noninterest expense	244,050	73,616	70,694	388,360
Income before income taxes	114,792	16,019	(3,321)	127,490
Income tax expense (benefit)	36,984	6,402	(3,986)	39,400
Net income	$            77,808	$                    9,617	$                 665	$            88,090
Selected Financial Information
Total assets at end of period	$       9,575,772	$                207,612	$       3,288,173	$     13,071,557
Depreciation and amortization	16,836	3,945	2,887	23,668

The change in income for the General Corporate and Other division for the three months and nine months ended September 30, 2015 compared to the same periods in 2014 is mainly due to a change in mortgage lending revenue.