SEGMENT REPORTING

9 Months Ended

Sep. 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 banking, 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, 2016 and 2015 were as follows:

				General
		Community	Insurance	Corporate
		Banking	Agencies	and Other	Total
	(In thousands)
Three months ended September 30, 2016:
Results of Operations
Net interest revenue		$            104,939	$                 11	$               9,640	$            114,590
Provision for credit losses		(2,082)	-	2,082	-
Net interest revenue after provision for credit losses		107,021	11	7,558	114,590
Noninterest revenue		20,745	27,913	22,210	70,868
Noninterest expense		76,914	25,335	27,263	129,512
Income before income taxes		50,852	2,589	2,505	55,946
Income tax expense		17,050	1,051	28	18,129
Net income		$              33,802	$            1,538	$               2,477	$              37,817
Selected Financial Information
Total assets at end of period		$       10,790,604	$        217,062	$        3,603,817	$       14,611,483
Depreciation and amortization		5,431	1,075	$                  835	7,341
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 (loss) before income taxes		52,450	4,019	(5,896)	50,573
Income tax expense (benefit)		17,517	1,609	(2,896)	16,230
Net income (loss)		$              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

			General
	Community	Insurance	Corporate
	Banking	Agencies	and Other	Total
	(In thousands)
Nine months ended September 30, 2016
Results of Operations
Net interest revenue	$          309,290	$                         45	$            28,730	$          338,065
Provision for credit losses	23	-	2,977	3,000
Net interest revenue after provision for credit losses	309,267	45	25,753	335,065
Noninterest revenue	61,788	89,821	54,457	206,066
Noninterest expense	241,117	75,598	83,815	400,530
Income (loss) before income taxes	129,938	14,268	(3,605)	140,601
Income tax expense (benefit)	43,998	5,702	(4,157)	45,543
Net income	$            85,940	$                    8,566	$                 552	$            95,058
Selected Financial Information
Total assets at end of period	$     10,790,604	$                217,062	3,603,817	$     14,611,483
Depreciation and amortization	15,972	3,169	2,554	21,695
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 (benefit)	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

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