Segment Reporting

6 Months Ended

Jun. 30, 2016

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 as of and for the periods presented:

	Community Banks		Insurance		Wealth Management			Other			Consolidated
Three months ended June 30, 2016
Net interest income	$	77,564	$	88	$	443		$	(938	)	$	77,157
Provision for loan losses	1,425		—		5			—			1,430
Noninterest income	29,172		2,280		3,062			1,072			35,586
Noninterest expense	72,448		1,741		2,829			241			77,259
Income (loss) before income taxes	32,863		627		671			(107		)	34,054
Income taxes	10,952		243		—			(41		)	11,154
Net income (loss)	$	21,911	$	384	$	671		$	(66	)	$	22,900
Total assets	$	8,429,596	$	21,484	$	51,239		$	27,247		$	8,529,566
Goodwill	467,767		2,767		—			—			470,534
Three months ended June 30, 2015
Net interest income	$	52,205	$	78	$	412		$	(1,081	)	$	51,614
Provision for loan losses	1,181		—		(6		)	—			1,175
Noninterest income	18,325		2,183		2,348			23			22,879
Noninterest expense	47,044		1,727		2,144			167			51,082
Income (loss) before income taxes	22,305		534		622			(1,225		)	22,236
Income taxes	7,103		218		—			(479		)	6,842
Net income (loss)	$	15,202	$	316	$	622		$	(746	)	$	15,394
Total assets	$	5,818,191	$	20,438	$	43,719		$	16,842		$	5,899,190
Goodwill	271,931		2,767		—			—			274,698

	Community Banks		Insurance		Wealth Management			Other			Consolidated
Six months ended June 30, 2016
Net interest income	$	148,385	$	174	$	877		$	(2,225	)	$	147,211
Provision for loan losses	3,238		—		(8		)	—			3,230
Noninterest income	56,743		5,280		6,047			818			68,888
Noninterest expense	137,659		3,477		5,567			370			147,073
Income (loss) before income taxes	64,231		1,977		1,365			(1,777		)	65,796
Income taxes	21,591		773		—			(684		)	21,680
Net income (loss)	$	42,640	$	1,204	$	1,365		$	(1,093	)	$	44,116
Total assets	$	8,429,596	$	21,484	$	51,239		$	27,247		$	8,529,566
Goodwill	467,767		2,767		—			—			470,534
Six months ended June 30, 2015
Net interest income	$	101,721	$	147	$	842		$	(2,315	)	$	100,395
Provision for loan losses	2,259		—		(9		)	—			2,250
Noninterest income	35,426		4,578		4,713			32			44,749
Noninterest expense	90,427		3,348		4,251			375			98,401
Income (loss) before income taxes	44,461		1,377		1,313			(2,658		)	44,493
Income taxes	14,359		538		—			(1,038		)	13,859
Net income (loss)	$	30,102	$	839	$	1,313		$	(1,620	)	$	30,634
Total assets	$	5,818,191	$	20,438	$	43,719		$	16,842		$	5,899,190
Goodwill	271,931		2,767		—			—			274,698