Segment Reporting

12 Months Ended

Dec. 31, 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, 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 the Company’s operating segments as of and for the years ended December 31, 20152014 and 2013:

	Community Banks		Insurance		Wealth Management			Other			Consolidated
2015
Net interest income	$	244,242	$	311	$	1,688		$	(4,883	)	$	241,358
Provision for loan losses	4,752		—		(2		)	—			4,750
Noninterest income	88,498		9,340		10,559			(127		)	108,270
Noninterest expense	228,248		6,900		9,130			836			245,114
Income before income taxes	99,740		2,751		3,119			(5,846		)	99,764
Income taxes	32,941		1,078		—			(2,269		)	31,750
Net income (loss)	$	66,799	$	1,673	$	3,119		$	(3,577	)	$	68,014
Total assets	$	7,833,084	$	22,550	$	46,035		$	24,827		$	7,926,496
Goodwill	443,104		2,767		—			—			445,871
2014
Net interest income	$	205,353	$	237	$	1,332		$	(4,440	)	$	202,482
Provision for loan losses	6,249		—		(82		)	—			6,167
Noninterest income	61,973		9,055		8,997			484			80,509
Noninterest expense	175,660		6,441		8,111			725			190,937
Income before income taxes	85,417		2,851		2,300			(4,681		)	85,887
Income taxes	27,037		1,114		—			(1,846		)	26,305
Net income (loss)	$	58,380	$	1,737	$	2,300		$	(2,835	)	$	59,582
Total assets	$	5,720,995	$	20,472	$	44,275		$	19,387		$	5,805,129
Goodwill	271,939		2,767		—			—			274,706
2013
Net interest income	$	158,322	$	135	$	1,275		$	(2,599	)	$	157,133
Provision for loan losses	10,219		—		131			—			10,350
Noninterest income	58,648		5,619		7,552			72			71,891
Noninterest expense	160,704		4,268		7,133			823			172,928
Income before income taxes	46,047		1,486		1,563			(3,350		)	45,746
Income taxes	13,036		575		—			(1,352		)	12,259
Net income (loss)	$	33,011	$	911	$	1,563		$	(1,998	)	$	33,487
Total assets	$	5,671,428	$	17,312	$	44,360		$	13,170		$	5,746,270
Goodwill	273,343		2,757		—			—			276,100