XML 52 R30.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2024
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-size businesses including checking and savings accounts, business and personal loans, asset-based lending, factoring and equipment leasing, as well as safe deposit and night depository facilities. •The Insurance segment included a full service insurance agency offering all major lines of commercial and personal insurance through major carriers. Effective July 1, 2024, the Bank sold substantially all of the assets of its Insurance segment. •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. The Financial Services division also provides administrative and compliance services for certain mutual funds. The Company’s reportable segments are determined by the Chief Executive Officer, who is the designated chief operating decision maker (“CODM”), based upon information provided about the Company’s products and services. The CODM evaluates the financial performance of the segments by evaluating revenue streams, significant expenses and budget to actual results, and the CODM provides guidance in strategy and the allocation of resources. In order to give the CODM a more precise indication of the income and expenses controlled by each segment, the results of operations for the Community Banks, Insurance and the Wealth Management segments reflect their own direct revenues and expenses. 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. Accounting policies for each segment are the same as those described in Note, “Significant Accounting Policies.” The following table provides financial information for the Company’s operating segments as of and for the years ended December 31, 2024, 2023 and 2022:
| Community Banks |  | Insurance |  | Wealth Management |  | Other |  | Consolidated
2024 |  |  |  |  |  |  |  |  |
Total interest income | $ | 886,666 |  |  | $ | 942 |  |  | $ | 64 |  |  | $ | 105 |  |  | $ | 887,777 |
Total interest expense | 348,199 |  |  | — |  |  | — |  |  | 27,382 |  |  | 375,581 |
Net interest income | 538,467 |  |  | 942 |  |  | 64 |  |  | (27,277) |  |  | 512,196 |
Provision for credit losses | 9,273 |  |  | — |  |  | — |  |  | — |  |  | 9,273 |
Noninterest income | 172,877 |  |  | 6,473 |  |  | 25,873 |  |  | (1,563) |  |  | 203,660 |
Salaries and employee benefits | 266,639 |  |  | 3,645 |  |  | 13,484 |  |  | — |  |  | 283,768 |
Net occupancy and equipment | 44,989 |  |  | 163 |  |  | 808 |  |  | — |  |  | 45,960 |
| Community Banks |  | Insurance |  | Wealth Management |  | Other |  | Consolidated
Other segment expenses(1) | 125,678 |  |  | 584 |  |  | 4,362 |  |  | 1,266 |  |  | 131,890 |
Income before income taxes | 264,765 |  |  | 3,023 |  |  | 7,283 |  |  | (30,106) |  |  | 244,965 |
Income taxes | 56,369 |  |  | 785 |  |  | 196 |  |  | (7,842) |  |  | 49,508 |
Net income (loss) | $ | 208,396 |  |  | $ | 2,238 |  |  | $ | 7,087 |  |  | $ | (22,264) |  |  | $ | 195,457 |
Total assets | $ | 18,033,458 |  |  | $ | — |  |  | $ | 3,392 |  |  | $ | (1,982) |  |  | $ | 18,034,868 |
Goodwill | 988,898 |  |  | — |  |  | — |  |  | — |  |  | 988,898 |
2023 |  |  |  |  |  |  |  |  |
Total interest income | $ | 795,500 |  |  | $ | 1,653 |  |  | $ | 68 |  |  | $ | 98 |  |  | $ | 797,319 |
Total interest expense | 251,026 |  |  | — |  |  | — |  |  | 26,966 |  |  | 277,992 |
Net interest income | 544,474 |  |  | 1,653 |  |  | 68 |  |  | (26,868) |  |  | 519,327 |
Provision for credit losses | 15,593 |  |  | — |  |  | — |  |  | — |  |  | 15,593 |
Noninterest income | 76,130 |  |  | 12,578 |  |  | 25,311 |  |  | (944) |  |  | 113,075 |
Salaries and employee benefits | 262,325 |  |  | 7,038 |  |  | 12,405 |  |  | — |  |  | 281,768 |
Net occupancy and equipment | 45,303 |  |  | 438 |  |  | 730 |  |  | — |  |  | 46,471 |
Other segment expenses(2) | 102,221 |  |  | 1,176 |  |  | 6,461 |  |  | 1,525 |  |  | 111,383 |
Income before income taxes | 195,162 |  |  | 5,579 |  |  | 5,783 |  |  | (29,337) |  |  | 177,187 |
Income taxes | 38,597 |  |  | 1,452 |  |  | 37 |  |  | (7,577) |  |  | 32,509 |
Net income (loss) | $ | 156,565 |  |  | $ | 4,127 |  |  | $ | 5,746 |  |  | $ | (21,760) |  |  | $ | 144,678 |
Total assets | $ | 17,313,704 |  |  | $ | 40,405 |  |  | $ | 6,590 |  |  | $ | (164) |  |  | $ | 17,360,535 |
Goodwill | 988,898 |  |  | 2,767 |  |  | — |  |  | — |  |  | 991,665 |
2022 |  |  |  |  |  |  |  |  |
Total interest income | $ | 538,596 |  |  | $ | 619 |  |  | $ | 2,560 |  |  | $ | 35 |  |  | $ | 541,810 |
Total interest expense | 39,562 |  |  | — |  |  | 128 |  |  | 20,822 |  |  | 60,512 |
Net interest income | 499,034 |  |  | 619 |  |  | 2,432 |  |  | (20,787) |  |  | 481,298 |
Provision for credit losses | 23,871 |  |  | — |  |  | — |  |  | — |  |  | 23,871 |
Noninterest income | 114,263 |  |  | 11,821 |  |  | 24,839 |  |  | (1,670) |  |  | 149,253 |
Salaries and employee benefits | 242,360 |  |  | 7,107 |  |  | 12,187 |  |  | — |  |  | 261,654 |
Net occupancy and equipment | 43,814 |  |  | 420 |  |  | 585 |  |  | — |  |  | 44,819 |
Other segment expenses(3) | 80,510 |  |  | 915 |  |  | 5,892 |  |  | 1,582 |  |  | 88,899 |
Income before income taxes | 222,742 |  |  | 3,998 |  |  | 8,607 |  |  | (24,039) |  |  | 211,308 |
Income taxes | 50,425 |  |  | 1,046 |  |  | — |  |  | (6,231) |  |  | 45,240 |
Net income (loss) | $ | 172,317 |  |  | $ | 2,952 |  |  | $ | 8,607 |  |  | $ | (17,808) |  |  | $ | 166,068 |
Total assets | $ | 16,882,534 |  |  | $ | 37,567 |  |  | $ | 75,383 |  |  | $ | (7,308) |  |  | $ | 16,988,176 |
Goodwill | 988,941 |  |  | 2,767 |  |  | — |  |  | — |  |  | 991,708 |
(1) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, merger and conversion related expenses and other miscellaneous expenses. Other segment expenses for Insurance include data processing, legal and professional fees, advertising and public relations, communications and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. (2) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. Other segment expenses for Insurance include data processing, legal and professional fees, advertising and public relations, communications and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses. (3) Other segment expenses for Community Banks include data processing, other real estate owned, legal and professional fees, advertising and public relations, intangible amortization, communications, restructuring charges, merger and conversion related expenses and other miscellaneous expenses. Other segment expenses for Insurance include data processing, advertising and public relations, communications and other miscellaneous expenses. Other segment expenses for Wealth Management include data processing, legal and professional fees, advertising and public relations, intangible amortization, communications and other miscellaneous expenses.

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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: 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 13: 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 14: 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 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: 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 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: 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 22: 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 23: 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 24: 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 25: 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