Segment Reporting

3 Months Ended

Mar. 31, 2017

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 March 31, 2017
Net interest income (loss)	$	75,956	$	92	$	487		$	(2,520	)	$	74,015
Provision for loan losses	1,500		—		—			—			1,500
Noninterest income	26,578		2,549		3,119			(225		)	32,021
Noninterest expense	64,221		1,692		2,996			400			69,309
Income (loss) before income taxes	36,813		949		610			(3,145		)	35,227
Income tax expense (benefit)	12,110		375		—			(1,230		)	11,255
Net income (loss)	$	24,703	$	574	$	610		$	(1,915	)	$	23,972
Total assets	$	8,673,576	$	24,032	$	54,537		$	12,566		$	8,764,711
Goodwill	467,767		2,767		—			—			470,534
Three months ended March 31, 2016
Net interest income (loss)	$	70,821	$	86	$	434		$	(1,287	)	$	70,054
Provision for loan losses	1,813		—		(13		)	—			1,800
Noninterest income	27,571		3,000		2,985			(254		)	33,302
Noninterest expense	65,211		1,736		2,738			129			69,814
Income (loss) before income taxes	31,368		1,350		694			(1,670		)	31,742
Income tax expense (benefit)	10,639		530		—			(643		)	10,526
Net income (loss)	$	20,729	$	820	$	694		$	(1,027	)	$	21,216
Total assets	$	8,053,379	$	23,013	$	46,645		$	23,192		$	8,146,229
Goodwill	446,658		2,767		—			—			449,425