SEGMENT REPORTING

6 Months Ended

Jun. 30, 2016

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 six-month periods ended June 30, 2016 and 2015 were as follows:

				General
		Community	Insurance	Corporate
		Banking	Agencies	and Other	Total
	(In thousands)
Three months ended June 30, 2016:
Results of Operations
Net interest revenue		$            102,890	$                 16	$               9,410	$            112,316
Provision for credit losses		985	-	1,015	2,000
Net interest revenue after provision for credit losses		101,905	16	8,395	110,316
Noninterest revenue		20,734	28,543	20,406	69,683
Noninterest expense		75,162	24,781	28,775	128,718
Income (loss) before income taxes		47,477	3,778	26	51,281
Income tax expense (benefit)		16,078	1,511	(1,000)	16,589
Net income (loss)		$              31,399	$            2,267	$               1,026	$              34,692
Selected Financial Information
Total assets at end of period		$       10,271,318	$        219,280	$        3,646,562	$       14,137,160
Depreciation and amortization		5,280	1,034	$                  855	7,169
Three months ended June 30, 2015:
Results of Operations
Net interest revenue		$              97,679	$                 35	$               9,595	$            107,309
Provision for credit losses		(5,831)	-	831	(5,000)
Net interest revenue after provision for credit losses		103,510	35	8,764	112,309
Noninterest revenue		20,224	29,280	24,810	74,314
Noninterest expense		74,749	25,296	28,132	128,177
Income before income taxes		48,985	4,019	5,442	58,446
Income tax expense		16,295	1,609	829	18,733
Net income		$              32,690	$            2,410	$               4,613	$              39,713
Selected Financial Information
Total assets at end of period		$         9,868,018	$        211,142	$        3,555,771	$       13,634,931
Depreciation and amortization		5,577	1,232	940	7,749

			General
	Community	Insurance	Corporate
	Banking	Agencies	and Other	Total
	(In thousands)
Six months ended June 30, 2016
Results of Operations
Net interest revenue	$          204,351	$                         35	$            19,089	$          223,475
Provision for credit losses	2,104	-	896	3,000
Net interest revenue after provision for credit losses	202,247	35	18,193	220,475
Noninterest revenue	41,043	61,908	32,247	135,198
Noninterest expense	164,203	50,263	56,552	271,018
Income  before income taxes	79,087	11,680	(6,112)	84,655
Income tax expense	26,956	4,651	(4,193)	27,414
Net income	$            52,131	$                    7,029	$            (1,919)	$            57,241
Selected Financial Information
Total assets at end of period	$     10,271,318	$                219,280	3,646,562	$     14,137,160
Depreciation and amortization	10,542	2,094	1,719	14,355
Six months ended June 30, 2015
Results of Operations
Net interest revenue	$          194,518	$                         67	18,797	$          213,382
Provision for credit losses	(9,798)	-	(202)	(10,000)
Net interest revenue after provision for credit losses	204,316	67	18,999	223,382
Noninterest revenue	40,617	62,478	44,534	147,629
Noninterest expense	159,211	50,612	55,287	265,110
Income before income taxes	85,722	11,933	8,246	105,901
Income tax expense (benefit)	27,904	4,755	1,263	33,922
Net income	$            57,818	$                    7,178	$              6,983	$            71,979
Selected Financial Information
Total assets at end of period	$       9,868,018	$                211,142	$       3,555,771	$     13,634,931
Depreciation and amortization	11,089	2,497	1,918	15,504

The change in income for the General Corporate and Other division for the three months and six months ended June 30, 2016 compared to the same periods in 2015 is mainly due to a change in mortgage banking revenue.