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Segment reporting (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Financial Information

The following tables provide segment financial information for the three and nine months ended September 30, 2020 and 2019 as follows:

Three Months Ended September 30, 2020						Banking						Mortgage						Consolidated
Net interest income						$	68,791					$	37					$	68,828
Provisions for credit losses(1)						55,401						—						55,401
Mortgage banking income						24,683						67,443						92,126
Change in fair value of mortgage servicing rights, net of hedging(2)						—						(7,440)						(7,440)
Other noninterest income						12,340						—						12,340
Depreciation and amortization						1,550						143						1,693
Amortization of intangibles						1,417						—						1,417
Other noninterest mortgage banking expense						15,175						29,909						45,084
Other noninterest expense(3)						69,568						330						69,898
(Loss) income before income taxes						$	(37,297)					$	29,658					$	(7,639)
Income tax benefit																		(2,040)
Net loss																		(5,599)
Total assets						$	10,378,122					$	632,316					$	11,010,438
Goodwill						236,086						—						236,086

(1)Included $9,567 in provision for credit losses on unfunded commitments.

(2)Included in mortgage banking income in the Company's consolidated statements of income.

(3)Included $20,400 of merger costs in the Banking segment related to the acquisition and integration of Franklin, and $330 of merger costs in the Mortgage segment related to the Franklin merger.

Three Months Ended September 30, 2019						Banking						Mortgage						Consolidated
Net interest income						$	58,350					$	(45)					$	58,305
Provision for credit losses						1,831						—						1,831
Mortgage banking income						10,693						23,591						34,284
Change in fair value of mortgage servicing rights, net of hedging(1)						—						(5,091)						(5,091)
Other noninterest income						8,952						—						8,952
Depreciation and amortization						1,255						125						1,380
Amortization of intangibles						1,197						—						1,197
Other noninterest mortgage banking expense						8,087						15,561						23,648
Other noninterest expense(2)						36,598						112						36,710
Income before income taxes						29,027						2,657						31,684
Income tax expense																		7,718
Net income																		23,966
Total assets						$	5,730,492					$	358,403					$	6,088,895
Goodwill						168,486						—						168,486

(1)Included in mortgage banking income in the Company's consolidated statements of income.

(2)Included $295 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $112 in mortgage restructuring charges in the Mortgage segment.

Nine Months Ended September 30, 2020						Banking						Mortgage						Consolidated
Net interest income						$	180,374					$	40					$	180,414
Provision for credit losses(1)						110,887						—						110,887
Mortgage banking income						52,274						163,871						216,145
Change in fair value of mortgage servicing rights, net of hedging(2)						—						(26,546)						(26,546)
Other noninterest income						31,618						—						31,618
Depreciation and amortization						4,545						379						4,924
Amortization of intangibles						3,825						—						3,825
Other noninterest mortgage banking expense						33,892						74,237						108,129
Other noninterest expense(3)						150,022						330						150,352
(Loss) income before income taxes						$	(38,905)					$	62,419					$	23,514
Income tax expense																		5,495
Net income																		$	18,019
Total assets						$	10,378,122					$	632,316					$	11,010,438
Goodwill						236,086						—						236,086

(1)Included $13,050 in provision for credit losses on unfunded commitments.

(2)Included in mortgage banking income in the Company's consolidated statements of income.

(3)Included $25,036 of merger costs in the Banking segment related to the acquisition and integration of Farmers National and Franklin, and $330 of merger costs in the Mortgage segment related to the Franklin merger.

Nine Months Ended September 30, 2019						Banking						Mortgage						Consolidated
Net interest income						$	168,322					$	22					$	168,344
Provision for credit losses						4,103						—						4,103
Mortgage banking income						20,530						64,982						85,512
Change in fair value of mortgage servicing rights, net of hedging(1)						—						(10,772)						(10,772)
Other noninterest income						25,423						—						25,423
Depreciation and amortization						3,431						399						3,830
Amortization of intangibles						3,180						—						3,180
Other noninterest mortgage banking expense						15,090						50,608						65,698
Other noninterest expense(2)						107,452						1,995						109,447
Income before income taxes						$	81,019					$	1,230					$	82,249
Income tax expense																		20,007
Net income																		$	62,242
Total assets						$	5,730,492					$	358,403					$	6,088,895
Goodwill						168,486						—						168,486

(1)Included in mortgage banking income in the Company's consolidated statements of income.

(2)Includes $4,699 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $1,995 in mortgage restructuring charges in the Mortgage segment.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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