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Operating Segments and Related Information | 9 Months Ended
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Sep. 30, 2020
Operating Segments and Related Information |
Operating Segments and Related Information | Note 12: Operating Segments and Related Information ​ The Company has three reportable operating segments: Banking, Remittance Processing and Wealth Management. The Banking operating segment provides a full range of banking services to individual and corporate customers through its banking center network in Illinois, the St. Louis, Missouri metropolitan area, southwest Florida and through its banking center in Indianapolis, Indiana. The Remittance Processing operating segment provides for online bill payments, lockbox and walk-in payments. The Wealth Management operating segment provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services and farm and brokerage services. ​ The Company’s three operating segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. The “other” category consists of the Parent Company and the elimination of intercompany transactions. ​ The segment financial information provided below has been derived from information used by management to monitor and manage the financial performance of the Company. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in the “Note 1. Significant Accounting Policies” to Form 10-K. The Company accounts for intersegment revenue and transfers at current market value. ​ Following is a summary of selected financial information for the Company’s operating segments (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Goodwill | ​ | Total Assets
​ |  | September 30, 2020 |  | December 31, 2019 |  | September 30, 2020 |  | December 31, 2019
Banking | ​ | $ | 288,436 | ​ | $ | 288,436 | ​ | $ | 10,457,479 | ​ | $ | 9,632,368
Remittance Processing | ​ |  | 8,992 | ​ |  | 8,992 | ​ |  | 46,124 | ​ |  | 44,209
Wealth Management | ​ |  | 14,108 | ​ |  | 14,108 | ​ |  | 42,593 | ​ |  | 32,760
Other | ​ |  | — | ​ |  | — | ​ |  | (6,568) | ​ |  | (13,608)
Totals | ​ | $ | 311,536 | ​ | $ | 311,536 | ​ | $ | 10,539,628 | ​ | $ | 9,695,729
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019
Net interest income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banking | ​ | $ | 73,330 | ​ | $ | 75,955 | ​ | $ | 218,221 | ​ | $ | 222,537
Remittance Processing | ​ | ​ | 21 | ​ | ​ | 20 | ​ | ​ | 59 | ​ | ​ | 56
Wealth Management | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Other | ​ |  | (3,598) | ​ |  | (2,499) | ​ |  | (8,281) | ​ |  | (7,306)
Total net interest income | ​ | $ | 69,753 | ​ | $ | 73,476 | ​ | $ | 209,999 | ​ | $ | 215,287
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banking | ​ | $ | 18,523 | ​ | $ | 18,301 | ​ | $ | 45,717 | ​ | $ | 46,743
Remittance Processing | ​ |  | 4,287 | ​ |  | 4,088 | ​ |  | 12,318 | ​ |  | 12,386
Wealth Management | ​ |  | 10,662 | ​ |  | 8,994 | ​ |  | 32,681 | ​ |  | 27,721
Other | ​ |  | (1,187) | ​ |  | (447) | ​ |  | (2,950) | ​ |  | (2,073)
Total non-interest income | ​ | $ | 32,285 | ​ | $ | 30,936 | ​ | $ | 87,766 | ​ | $ | 84,777
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-interest expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banking | ​ | $ | 44,863 | ​ | $ | 56,593 | ​ | $ | 135,037 | ​ | $ | 158,659
Remittance Processing | ​ | ​ | 3,523 | ​ | ​ | 2,746 | ​ | ​ | 9,669 | ​ | ​ | 8,099
Wealth Management | ​ | ​ | 6,497 | ​ | ​ | 6,043 | ​ | ​ | 19,725 | ​ | ​ | 17,356
Other | ​ | ​ | 1,659 | ​ | ​ | 2,739 | ​ | ​ | 5,693 | ​ | ​ | 9,190
Total non-interest expense | ​ | $ | 56,542 | ​ | $ | 68,121 | ​ | $ | 170,124 | ​ | $ | 193,304
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banking | ​ | $ | 41,441 | ​ | $ | 34,252 | ​ | $ | 93,245 | ​ | $ | 102,582
Remittance Processing | ​ | ​ | 785 | ​ | ​ | 1,362 | ​ | ​ | 2,708 | ​ | ​ | 4,343
Wealth Management | ​ | ​ | 4,165 | ​ | ​ | 2,951 | ​ | ​ | 12,956 | ​ | ​ | 10,365
Other | ​ | ​ | (6,444) | ​ | ​ | (5,685) | ​ | ​ | (16,924) | ​ | ​ | (18,569)
Total income before income taxes | ​ | $ | 39,947 | ​ | $ | 32,880 | ​ | $ | 91,985 | ​ | $ | 98,721
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Banking | ​ | $ | 31,744 | ​ | $ | 25,731 | ​ | $ | 72,653 | ​ | $ | 76,837
Remittance Processing | ​ |  | 578 | ​ |  | 972 | ​ |  | 1,966 | ​ |  | 3,102
Wealth Management | ​ |  | 3,166 | ​ |  | 2,184 | ​ |  | 9,847 | ​ |  | 7,670
Other | ​ |  | (4,659) | ​ |  | (4,059) | ​ |  | (12,467) | ​ |  | (13,227)
Total net income | ​ | $ | 30,829 | ​ | $ | 24,828 | ​ | $ | 71,999 | ​ | $ | 74,382
​

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -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 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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