Segment Reporting

12 Months Ended

Dec. 31, 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 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 our operating segments as of and for the years ended December 31, 20142013 and 2012:

	Community Banks		Insurance		Wealth Management			Other			Consolidated
2014
Net interest income	$	205,500	$	237	$	1,332		$	(4,440	)	$	202,629
Provision for loan losses	6,167		—		—			—			6,167
Noninterest income	62,384		8,799		8,953			484			80,620
Noninterest expense	175,918		6,441		8,111			725			191,195
Income before income taxes	85,799		2,595		2,174			(4,681		)	85,887
Income taxes	27,037		1,114		—			(1,846		)	26,305
Net income (loss)	$	58,762	$	1,481	$	2,174		$	(2,835	)	$	59,582
Total assets	$	5,722,990	$	20,472	$	44,370		$	17,297		$	5,805,129
Goodwill	271,939		2,767		—			—			274,706
2013
Net interest income	$	158,390	$	135	$	1,275		$	(2,599	)	$	157,201
Provision for loan losses	10,219		—		131			—			10,350
Noninterest income	58,865		5,619		7,415			72			71,971
Noninterest expense	160,894		4,268		7,091			823			173,076
Income before income taxes	46,142		1,486		1,468			(3,350		)	45,746
Income taxes	13,036		575		—			(1,352		)	12,259
Net income (loss)	$	33,106	$	911	$	1,468		$	(1,998	)	$	33,487
Total assets	$	5,671,119	$	17,312	$	44,669		$	13,170		$	5,746,270
Goodwill	273,343		2,757		—			—			276,100
2012
Net interest income	$	134,463	$	96	$	1,326		$	(2,547	)	$	133,338
Provision for loan losses	18,172		—		(47		)	—			18,125
Noninterest income	57,594		4,049		6,984			84			68,711
Noninterest expense	140,244		3,149		6,491			575			150,459
Income before income taxes	33,641		996		1,866			(3,038		)	33,465
Income taxes	7,202		386		400			(1,160		)	6,828
Net income (loss)	$	26,439	$	610	$	1,466		$	(1,878	)	$	26,637
Total assets	$	4,117,998	$	12,094	$	38,971		$	9,553		$	4,178,616
Goodwill	182,076		2,783		—			—			184,859