Segment Reporting

9 Months Ended

Sep. 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 September 30, 2014
Net interest income	$	51,298	$	65	$	338		$	(1,229	)	$	50,472
Provision for loan losses	2,227		—		(10		)	—			2,217
Noninterest income	17,551		2,261		2,353			398			22,563
Noninterest expense	44,130		1,656		2,176			213			48,175
Income (loss) before income taxes	22,492		670		525			(1,044		)	22,643
Income taxes	7,251		262		—			(405		)	7,108
Net income (loss)	$	15,241	$	408	$	525		$	(639	)	$	15,535
Total assets	$	5,671,079	$	18,834	$	46,527		$	15,271		$	5,751,711
Goodwill	271,891		2,767		—			—			274,658
Three months ended September 30, 2013
Net interest income	$	39,133	$	29	$	331		$	(745	)	$	38,748
Provision for loan losses	2,307		—		(7		)	—			2,300
Noninterest income	16,160		1,428		1,325			22			18,935
Noninterest expense	43,590		1,021		1,768			234			46,613
Income (loss) before income taxes	9,396		436		(105		)	(957		)	8,770
Income taxes	2,428		77		—			(372		)	2,133
Net income (loss)	$	6,968	$	359	$	(105	)	$	(585	)	$	6,637
Total assets	$	5,662,257	$	16,661	$	42,291		$	14,839		$	5,736,048
Goodwill	272,545		2,783		—			—			275,328

	Community Banks		Insurance		Wealth Management			Other			Consolidated
Nine months ended September 30, 2014
Net interest income	$	154,678	$	177	$	969		$	(3,212	)	$	152,612
Provision for loan losses	5,117		—		—			—			5,117
Noninterest income	46,763		6,792		6,650			445			60,650
Noninterest expense	133,785		4,814		6,043			574			145,216
Income (loss) before income taxes	62,539		2,155		1,576			(3,341		)	62,929
Income taxes	19,397		844		—			(1,297		)	18,944
Net income (loss)	$	43,142	$	1,311	$	1,576		$	(2,044	)	$	43,985
Total assets	$	5,671,079	$	18,834	$	46,527		$	15,271		$	5,751,711
Goodwill	271,891		2,767		—			—			274,658
Nine months ended September 30, 2013
Net interest income	$	107,061	$	76	$	950		$	(1,554	)	$	106,533
Provision for loan losses	8,214		—		136			—			8,350
Noninterest income	46,282		3,434		3,866			48			53,630
Noninterest expense	113,613		2,647		5,085			602			121,947
Income (loss) before income taxes	31,516		863		(405		)	(2,108		)	29,866
Income taxes	8,230		242		—			(833		)	7,639
Net income (loss)	$	23,286	$	621	$	(405	)	$	(1,275	)	$	22,227
Total assets	$	5,662,257	$	16,661	$	42,291		$	14,839		$	5,736,048
Goodwill	272,545		2,783		—			—			275,328