Segment Reporting

9 Months Ended

Sep. 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 September 30, 2015
Net interest income	$	69,471	$	81	$	419		$	(1,291	)	$	68,680
Provision for loan losses	749		—		1			—			750
Noninterest income	26,677		2,434		2,981			25			32,117
Noninterest expense	71,569		1,783		2,497			236			76,085
Income (loss) before income taxes	23,830		732		902			(1,502		)	23,962
Income taxes	8,039		289		—			(586		)	7,742
Net income (loss)	$	15,791	$	443	$	902		$	(916	)	$	16,220
Total assets	$	7,837,534	$	21,978	$	43,150		$	16,070		$	7,918,732
Goodwill	449,270		2,767		—			—			452,037
Three months ended September 30, 2014
Net interest income	$	51,298	$	65	$	338		$	(1,229	)	$	50,472
Provision for loan losses	2,268		—		(51		)	—			2,217
Noninterest income	17,547		2,261		2,357			398			22,563
Noninterest expense	44,129		1,656		2,177			213			48,175
Income (loss) before income taxes	22,448		670		569			(1,044		)	22,643
Income taxes	7,251		262		—			(405		)	7,108
Net income (loss)	$	15,197	$	408	$	569		$	(639	)	$	15,535
Total assets	$	5,671,079	$	18,834	$	46,527		$	15,271		$	5,751,711
Goodwill	271,891		2,767		—			—			274,658

	Community Banks		Insurance		Wealth Management			Other			Consolidated
Nine months ended September 30, 2015
Net interest income	$	171,310	$	228	$	1,260		$	(3,606	)	$	169,192
Provision for loan losses	3,008		—		(8		)	—			3,000
Noninterest income	62,174		7,012		7,694			58			76,938
Noninterest expense	162,184		5,131		6,748			612			174,675
Income (loss) before income taxes	68,292		2,109		2,214			(4,160		)	68,455
Income taxes	22,397		827		—			(1,623		)	21,601
Net income (loss)	$	45,895	$	1,282	$	2,214		$	(2,537	)	$	46,854
Total assets	$	7,837,534	$	21,978	$	43,150		$	16,070		$	7,918,732
Goodwill	449,270		2,767		—			—			452,037
Nine months ended September 30, 2014
Net interest income	$	154,678	$	177	$	969		$	(3,212	)	$	152,612
Provision for loan losses	5,158		—		(41		)	—			5,117
Noninterest income	46,722		6,792		6,691			445			60,650
Noninterest expense	133,784		4,814		6,044			574			145,216
Income (loss) before income taxes	62,458		2,155		1,657			(3,341		)	62,929
Income taxes	19,397		844		—			(1,297		)	18,944
Net income (loss)	$	43,061	$	1,311	$	1,657		$	(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