Segment Reporting

6 Months Ended

Jun. 30, 2015

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, asset-based lending and 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 IRAs, 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, 2015
Net interest income	$	52,277	$	78	$	395		$	(1,080	)	$	51,670
Provision for loan losses	1,175		—		—			—			1,175
Noninterest income	18,325		2,183		2,385			24			22,917
Noninterest expense	47,377		1,727		1,904			168			51,176
Income (loss) before income taxes	22,050		534		876			(1,224		)	22,236
Income taxes	7,102		218		—			(478		)	6,842
Net income (loss)	$	14,948	$	316	$	876		$	(746	)	$	15,394
Total assets	$	5,819,329	$	20,438	$	43,719		$	15,704		$	5,899,190
Goodwill	271,931		2,767		—			—			274,698
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

	Community Banks		Insurance		Wealth Management		Other			Consolidated
Six months ended June 30, 2015
Net interest income	$	101,870	$	147	$	810	$	(2,315	)	$	100,512
Provision for loan losses	2,250		—		—		—			2,250
Noninterest income	35,461		4,578		4,749		33			44,821
Noninterest expense	91,068		3,348		3,798		376			98,590
Income (loss) before income taxes	44,013		1,377		1,761		(2,658		)	44,493
Income taxes	14,358		538		—		(1,037		)	13,859
Net income (loss)	$	29,655	$	839	$	1,761	$	(1,621	)	$	30,634
Total assets	$	5,819,329	$	20,438	$	43,719	$	15,704		$	5,899,190
Goodwill	271,931		2,767		—		—			274,698
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