XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2023
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, factoring, equipment leasing and treasury management services, 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, through the Trust division, offers a broad range of fiduciary services including the administration (as trustee or in other fiduciary or representative capacities) of benefit plans, management of trust accounts, inclusive of personal and corporate benefit accounts, and custodial accounts, as well as accounting and money management for trust accounts. In addition, the Wealth Management segment, through the Financial Services division, provides specialized products and services to customers, which include fixed and variable annuities, mutual funds and other investment services through a third party broker-dealer. 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 tables provide 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 September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Net interest income (loss) | $ | 133,909 |  |  |  |  | $ | 456 |  |  | $ | 8 |  |  | $ | (6,990) |  |  | $ | 127,383 |
Provision for credit losses | 5,315 |  |  |  |  | — |  |  | — |  |  | — |  |  | 5,315 |
Noninterest income (loss) | 28,679 |  |  |  |  | 3,276 |  |  | 6,638 |  |  | (393) |  |  | 38,200 |
Noninterest expense | 99,791 |  |  |  |  | 2,237 |  |  | 5,150 |  |  | 491 |  |  | 107,669 |
Income (loss) before income taxes | 57,482 |  |  |  |  | 1,495 |  |  | 1,496 |  |  | (7,874) |  |  | 52,599 |
Income tax expense (benefit) | 12,339 |  |  |  |  | 387 |  |  | 72 |  |  | (2,032) |  |  | 10,766 |
Net income (loss) | $ | 45,143 |  |  |  |  | $ | 1,108 |  |  | $ | 1,424 |  |  | $ | (5,842) |  |  | $ | 41,833 |
Total assets | $ | 17,143,564 |  |  |  |  | $ | 39,434 |  |  | $ | 5,077 |  |  | $ | (6,454) |  |  | $ | 17,181,621 |
Goodwill | $ | 988,898 |  |  |  |  | $ | 2,767 |  |  | — |  |  | — |  |  | $ | 991,665 |
Three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |
Net interest income (loss) | $ | 134,528 |  |  |  |  | $ | 98 |  |  | $ | 794 |  |  | $ | (5,102) |  |  | $ | 130,318 |
Provision for credit losses | 9,800 |  |  |  |  | — |  |  | — |  |  | — |  |  | 9,800 |
Noninterest income (loss) | 32,324 |  |  |  |  | 3,123 |  |  | 6,132 |  |  | (393) |  |  | 41,186 |
Noninterest expense | 94,474 |  |  |  |  | 2,190 |  |  | 4,553 |  |  | 357 |  |  | 101,574 |
Income (loss) before income taxes | 62,578 |  |  |  |  | 1,031 |  |  | 2,373 |  |  | (5,852) |  |  | 60,130 |
Income tax expense (benefit) | 14,811 |  |  |  |  | 268 |  |  | — |  |  | (1,516) |  |  | 13,563 |
Net income (loss) | $ | 47,767 |  |  |  |  | $ | 763 |  |  | $ | 2,373 |  |  | $ | (4,336) |  |  | $ | 46,567 |
Total assets | $ | 16,369,592 |  |  |  |  | $ | 35,761 |  |  | $ | 73,704 |  |  | $ | (7,958) |  |  | $ | 16,471,099 |
Goodwill | $ | 943,524 |  |  |  |  | $ | 2,767 |  |  | — |  |  | — |  |  | $ | 946,291 |
| Community Banks |  |  |  | Insurance |  | Wealth Management |  | Other |  | Consolidated
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Net interest income (loss) | $ | 412,066 |  |  |  |  | $ | 1,170 |  |  | $ | 56 |  |  | $ | (19,918) |  |  | $ | 393,374 |
Provision for credit losses | 16,275 |  |  |  |  | — |  |  | — |  |  | — |  |  | 16,275 |
Noninterest income (loss) | 66,331 |  |  |  |  | 9,497 |  |  | 18,088 |  |  | (1,197) |  |  | 92,719 |
Noninterest expense | 302,454 |  |  |  |  | 6,346 |  |  | 14,485 |  |  | 1,257 |  |  | 324,542 |
Income (loss) before income taxes | 159,668 |  |  |  |  | 4,321 |  |  | 3,659 |  |  | (22,372) |  |  | 145,276 |
Income tax expense (benefit) | 33,319 |  |  |  |  | 1,119 |  |  | 58 |  |  | (5,774) |  |  | 28,722 |
Net income (loss) | $ | 126,349 |  |  |  |  | $ | 3,202 |  |  | $ | 3,601 |  |  | $ | (16,598) |  |  | $ | 116,554 |
Total assets | $ | 17,143,564 |  |  |  |  | $ | 39,434 |  |  | $ | 5,077 |  |  | $ | (6,454) |  |  | $ | 17,181,621 |
Goodwill | $ | 988,898 |  |  |  |  | $ | 2,767 |  |  | $ | — |  |  | $ | — |  |  | $ | 991,665 |
Nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |
Net interest income (loss) | $ | 356,040 |  |  |  |  | $ | 286 |  |  | $ | 1,813 |  |  | $ | (14,677) |  |  | $ | 343,462 |
Provision for credit losses | 13,300 |  |  |  |  | — |  |  | — |  |  | — |  |  | 13,300 |
Noninterest income (loss) | 89,359 |  |  |  |  | 8,831 |  |  | 18,952 |  |  | (1,284) |  |  | 115,858 |
Noninterest expense | 272,594 |  |  |  |  | 6,311 |  |  | 13,899 |  |  | 1,069 |  |  | 293,873 |
Income (loss) before income taxes | 159,505 |  |  |  |  | 2,806 |  |  | 6,866 |  |  | (17,030) |  |  | 152,147 |
Income tax expense (benefit) | 36,035 |  |  |  |  | 734 |  |  | — |  |  | (4,414) |  |  | 32,355 |
Net income (loss) | $ | 123,470 |  |  |  |  | $ | 2,072 |  |  | $ | 6,866 |  |  | $ | (12,616) |  |  | $ | 119,792 |
Total assets | $ | 16,369,592 |  |  |  |  | $ | 35,761 |  |  | $ | 73,704 |  |  | $ | (7,958) |  |  | $ | 16,471,099 |
Goodwill | $ | 943,524 |  |  |  |  | $ | 2,767 |  |  | $ | — |  |  | $ | — |  |  | $ | 946,291 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration