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Business Segments (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Financial Information by Business Segment

Condensed financial information by business segment is presented below:

 

 

 

 

 

 

 

Trust and

 

 

 

 

 

 

 

Community

 

 

Investment

 

 

 

 

 

(unaudited, in thousands)

 

Banking

 

 

Services

 

 

Consolidated

 

For The Three Months Ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

117,348

 

 

$

 

 

$

117,348

 

Interest expense

 

 

21,228

 

 

 

 

 

 

21,228

 

Net interest income

 

 

96,120

 

 

 

 

 

 

96,120

 

Provision for credit losses

 

 

4,121

 

 

 

 

 

 

4,121

 

Net interest income after provision for credit losses

 

 

91,999

 

 

 

 

 

 

91,999

 

Non-interest income

 

 

20,525

 

 

 

6,425

 

 

 

26,950

 

Non-interest expense

 

 

69,068

 

 

 

4,200

 

 

 

73,268

 

Income before provision for income taxes

 

 

43,456

 

 

 

2,225

 

 

 

45,681

 

Provision for income taxes

 

 

7,866

 

 

 

468

 

 

 

8,334

 

Net income

 

$

35,590

 

 

$

1,757

 

 

$

37,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For The Three Months Ended September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

108,393

 

 

$

 

 

$

108,393

 

Interest expense

 

 

18,460

 

 

 

 

 

 

18,460

 

Net interest income

 

 

89,933

 

 

 

 

 

 

89,933

 

Provision for credit losses

 

 

1,035

 

 

 

 

 

 

1,035

 

Net interest income after provision for credit losses

 

 

88,898

 

 

 

 

 

 

88,898

 

Non-interest income

 

 

19,959

 

 

 

6,265

 

 

 

26,224

 

Non-interest expense

 

 

72,378

 

 

 

3,742

 

 

 

76,120

 

Income before provision for income taxes

 

 

36,479

 

 

 

2,523

 

 

 

39,002

 

Provision for income taxes

 

 

5,986

 

 

 

530

 

 

 

6,516

 

Net income

 

$

30,493

 

 

$

1,993

 

 

$

32,486

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

355,944

 

 

$

 

 

$

355,944

 

Interest expense

 

 

63,003

 

 

 

 

 

 

63,003

 

Net interest income

 

 

292,941

 

 

 

 

 

 

292,941

 

Provision for credit losses

 

 

9,375

 

 

 

 

 

 

9,375

 

Net interest income after provision for credit losses

 

 

283,566

 

 

 

 

 

 

283,566

 

Non-interest income

 

 

65,998

 

 

 

19,880

 

 

 

85,878

 

Non-interest expense

 

 

207,299

 

 

 

12,353

 

 

 

219,652

 

Income before provision for income taxes

 

 

142,265

 

 

 

7,527

 

 

 

149,792

 

Provision for income taxes

 

 

25,714

 

 

 

1,581

 

 

 

27,295

 

Net income

 

$

116,551

 

 

$

5,946

 

 

$

122,497

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended September 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

293,596

 

 

$

 

 

$

293,596

 

Interest expense

 

 

48,127

 

 

 

 

 

 

48,127

 

Net interest income

 

 

245,469

 

 

 

 

 

 

245,469

 

Provision for credit losses

 

 

4,911

 

 

 

 

 

 

4,911

 

Net interest income after provision for credit losses

 

 

240,558

 

 

 

 

 

 

240,558

 

Non-interest income

 

 

55,195

 

 

 

18,520

 

 

 

73,715

 

Non-interest expense

 

 

183,298

 

 

 

10,936

 

 

 

194,234

 

Income before provision for income taxes

 

 

112,455

 

 

 

7,584

 

 

 

120,039

 

Provision for income taxes

 

 

19,262

 

 

 

1,593

 

 

 

20,855

 

Net income

 

$

93,193

 

 

$

5,991

 

 

$

99,184