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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
SEGMENT REPORTING

Note 15 - Segment Reporting

Currently, the Company conducts business in three operating segments—Community Banking, Insurance and Investment Management. Each of the operating segments is a strategic business unit that offers different products and services. The Insurance and Investment Management segments were businesses that were acquired in separate transactions where management of acquisition was retained. The accounting policies of the segments are the same as those of the Company. However, the segment data reflect inter-segment transactions and balances.

The Community Banking segment is conducted through Sandy Spring Bank and involves delivering a broad range of financial products and services, including various loan and deposit products to both individuals and businesses. Parent company income is included in the Community Banking segment, as the majority of effort of these functions is related to this segment. Major revenue sources include net interest income, gains on sales of mortgage loans, trust income, fees on sales of investment products and service charges on deposit accounts. Expenses include personnel, occupancy, marketing, equipment and other expenses. Non-cash charges associated with amortization of intangibles related to the acquired entities was not significant for the three and nine months ended September 30, 2015 and 2014, respectively.

The Insurance segment is conducted through Sandy Spring Insurance Corporation, a subsidiary of the Bank, and offers annuities as an alternative to traditional deposit accounts. Sandy Spring Insurance Corporation operates Sandy Spring Insurance, a general insurance agency located in Annapolis, Maryland, and Neff and Associates, located in Ocean City, Maryland. Major sources of revenue are insurance commissions from commercial lines, personal lines, and medical liability lines. Expenses include personnel and support charges. Non-cash charges associated with amortization of intangibles related to the acquired entities was not significant for the three and nine months ended September 30, 2015 and 2014, respectively.

The Investment Management segment is conducted through West Financial Services, Inc., a subsidiary of the Bank. This asset management and financial planning firm, located in McLean, Virginia, provides comprehensive investment management and financial planning to individuals, families, small businesses and associations including cash flow analysis, investment review, tax planning, retirement planning, insurance analysis and estate planning. West Financial currently has approximately $1.0 billion in assets under management. Major revenue sources include non-interest income earned on the above services. Expenses include personnel and support charges. Non-cash charges associated with amortization of intangibles related to the acquired entities was not significant for the three and nine months ended September 30, 2015 and 2014, respectively.

Information for the operating segments and reconciliation of the information to the condensed consolidated financial statements for the periods indicated is presented in the following tables:

Three Months Ended September 30, 2015
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $40,318$-$1$(2)$40,317
Interest expense 5,203--(2)5,201
Provision for loan and lease losses1,706---1,706
Noninterest income9,1061,7161,749(181)12,390
Noninterest expenses 27,3181,4801,013(181)29,630
Income before income taxes15,197236737-16,170
Income tax expense4,786101288-5,175
Net income$10,411$135$449$-$10,995
Assets$4,612,413$5,788$11,135$(18,302)$4,611,034

Three Months Ended September 30, 2014
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $37,150$1$1$(2)$37,150
Interest expense 4,732--(2)4,730
Provision for loan and lease losses(192)---(192)
Non-interest income9,5451,4981,722(175)12,590
Non-interest expenses 26,6321,226949(175)28,632
Income before income taxes15,523273774-16,570
Income tax expense5,014110304-5,428
Net income$10,509$163$470$-$11,142
Assets$4,250,103$6,053$11,409$(18,834)$4,248,731

Nine Months Ended September 30, 2015
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $117,238$1$4$(5)$117,238
Interest expense 14,821--(5)14,816
Provision for loan and lease losses3,521---3,521
Noninterest income43,8874,3945,313(15,936)37,658
Noninterest expenses 97,2944,0322,961(15,936)88,351
Income before income taxes45,4893632,356-48,208
Income tax expense14,583153919-15,655
Net income$30,906$210$1,437$-$32,553
Assets$4,612,413$5,788$11,135$(18,302)$4,611,034

Nine Months Ended September 30, 2014
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $110,391$6$10$(16)$110,391
Interest expense 14,086--(16)14,070
Provision (credit) for loan and lease losses(1,016)---(1,016)
Non-interest income29,6694,2735,117(3,526)35,533
Non-interest expenses 87,5503,5422,756(3,526)90,322
Income before income taxes39,4407372,371-42,548
Income tax expense12,272298926-13,496
Net income$27,168$439$1,445$-$29,052
Assets$4,250,103$6,053$11,409$(18,834)$4,248,731