Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

(In Thousands)

The operations of the Company’s reportable segments are described as follows:

• The Community Banks segment delivers a complete range of banking and financial services to individuals and small to medium-sized businesses including checking and savings accounts, business and personal loans, equipment leasing, as well as safe deposit and night depository facilities.

• The Insurance segment includes a full service insurance agency offering all major lines of commercial and personal insurance through major carriers.

• The Wealth Management segment offers a broad range of fiduciary services which includes the administration and management of trust accounts including personal and corporate benefit accounts, self-directed IRA’s, and custodial accounts. In addition, the Wealth Management segment offers annuities, mutual funds and other investment services through a third party broker-dealer.

In order to give the Company’s divisional management a more precise indication of the income and expenses they can control, the results of operations for the Community Banks, the Insurance and the Wealth Management segments reflect the direct revenues and expenses of each respective segment. Indirect revenues and expenses, including but not limited to income from the Company’s investment portfolio, as well as certain costs associated with data processing and back office functions, primarily support the operations of the community banks and, therefore, are included in the results of the Community Banks segment. Included in “Other” are the operations of the holding company and other eliminations which are necessary for purposes of reconciling to the consolidated amounts.

The following table provides financial information for the Company’s operating segments for the periods presented:

	Community Banks		Insurance		Wealth Management			Other			Consolidated
Three months ended June 30, 2014
Net interest income	52,744		49		320			(944		)	52,169
Provision for loan losses	1,501		—		(51		)	—			1,450
Noninterest income	15,129		2,138		2,181			23			19,471
Noninterest expense	45,530		1,684		1,999			183			49,396
Income (loss) before income taxes	20,842		503		553			(1,104		)	20,794
Income taxes	6,168		202		—			(429		)	5,941
Net income (loss)	14,674		301		553			(675		)	14,853
Total assets	$	5,744,942	$	17,864	$	46,259		$	16,955		$	5,826,020
Goodwill	273,379		2,767		—			—			276,146
Three months ended June 30, 2013
Net interest income	$	34,251	$	24	$	324		$	(195	)	$	34,404
Provision for loan losses	2,990		—		10			—			3,000
Noninterest income	14,658		973		1,681			5			17,317
Noninterest expense	34,921		813		1,736			264			37,734
Income (loss) before income taxes	10,998		184		259			(454		)	10,987
Income taxes	3,079		71		—			(182		)	2,968
Net income (loss)	$	7,919	$	113	$	259		$	(272	)	$	8,019
Total assets	$	4,183,079	$	10,460	$	42,886		$	12,856		$	4,249,281
Goodwill	181,996		2,783		—			—			184,779

	Community Banks		Insurance		Wealth Management		Other			Consolidated
Six months ended June 30, 2014
Net interest income	103,380		112		631		(1,983		)	102,140
Provision for loan losses	2,890		—		10		—			2,900
Noninterest income	29,212		4,531		4,297		47			38,087
Noninterest expense	89,655		3,158		3,867		361			97,041
Income (loss) before income taxes	40,047		1,485		1,051		(2,297		)	40,286
Income taxes	12,146		582		—		(892		)	11,836
Net income (loss)	27,901		903		1,051		(1,405		)	28,450
Total assets	$	5,744,942	$	17,864	$	46,259	$	16,955		$	5,826,020
Goodwill	273,379		2,767		—		—			276,146
Six months ended June 30, 2013
Net interest income	$	67,928	$	47	$	619	$	(809	)	$	67,785
Provision for loan losses	5,907		—		143		—			6,050
Noninterest income	29,201		2,006		3,462		26			34,695
Noninterest expense	70,023		1,626		3,317		368			75,334
Income (loss) before income taxes	21,199		427		621		(1,151		)	21,096
Income taxes	5,802		165		—		(461		)	5,506
Net income (loss)	$	15,397	$	262	$	621	$	(690	)	$	15,590
Total assets	$	4,183,079	$	10,460	$	42,886	$	12,856		$	4,249,281
Goodwill	181,996		2,783		—		—			184,779