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SEGMENT INFORMATION | 3 Months Ended
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Mar. 31, 2012
SEGMENT INFORMATION [Abstract] |
SEGMENT INFORMATION | 18. SEGMENT INFORMATION Due to recent changes in our organizational structure, in the first quarter of 2012, we changed our reportable segments to better align our segments with how management reviews and monitors the performance of the Company's financial results. We now have the following three reportable segments: Banking Operations, Treasury and All Others. These segments are consistent with our internal functional reporting lines and are managed separately because each unit has different target markets, technological requirements, marketing strategies and specialized skills. The Banking Operations segment includes construction and real estate development lending, commercial lending, residential mortgage lending and servicing, indirect auto lending, trust services, retail brokerage services and our retail branch offices, which provide a full range of deposit and loan products, as well as various other banking services. The Treasury segment is responsible for managing the Company's investment securities portfolio and wholesale funding activities. The All Others segment consists of all activities not captured by the Banking Operations or Treasury segments described above and includes activities such as electronic banking, data processing and management of bank owned properties. The accounting policies of the segments are consistent with the Company's accounting policies that are described in Note 1 to the consolidated financial statements in the Annual Report on Form 10-K for the year ended December 31, 2011 filed with the SEC. The majority of the Company's net income is derived from net interest income. Accordingly, management focuses primarily on net interest income, rather than gross interest income and expense amounts, in evaluating segment profitability. Intersegment net interest income (expense) was allocated to each segment based upon a funds transfer pricing process that assigns costs of funds to assets and earnings credits to liabilities based on market interest rates that reflect interest rate sensitivity and maturity characteristics. All administrative and overhead expenses are allocated to the segments at cost. Cash, investment securities, loans and leases and their related balances are allocated to the segment responsible for acquisition and maintenance of those assets. Segment assets also include all premises and equipment used directly in segment operations. Segment profits (losses) and assets are provided in the following table for the periods indicated.
| Banking |  |  |  |  |  |  |  |  |  |
| Operations |  |  | Treasury |  |  | All Others |  |  | Total |
| (Dollars in thousands)
Three months ended March 31, 2012: |  |  |  |  |  |  |  |  |  |  |
Net interest income | $ | 23,237 |  |  | $ | 7,265 |  |  | $ | - |  |  | $ | 30,502 |
Intersegment net interest income (expense) |  | 12,416 |  |  |  | (5,857 | ) |  |  | (6,559 | ) |  |  | - |
Credit for loan and lease losses |  | 4,990 |  |  |  | - |  |  |  | - |  |  |  | 4,990 |
Other operating income |  | 12,336 |  |  |  | 1,086 |  |  |  | (190 | ) |  |  | 13,232 |
Other operating expense |  | (21,844 | ) |  |  | (398 | ) |  |  | (13,004 | ) |  |  | (35,246 | )
Administrative and overhead expense allocation |  | (12,754 | ) |  |  | (196 | ) |  |  | 12,950 |  |  |  | - |
Net income (loss) | $ | 18,381 |  |  | $ | 1,900 |  |  | $ | (6,803 | ) |  | $ | 13,478 |
Three months ended March 31, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income | $ | 24,424 |  |  | $ | 3,777 |  |  | $ | - |  |  | $ | 28,201 |
Intersegment net interest income (expense) |  | 10,426 |  |  |  | (1,223 | ) |  |  | (9,203 | ) |  |  | - |
Credit for loan and lease losses |  | 1,575 |  |  |  | - |  |  |  | - |  |  |  | 1,575 |
Other operating income |  | 10,375 |  |  |  | 1,639 |  |  |  | 486 |  |  |  | 12,500 |
Other operating expense |  | (25,446 | ) |  |  | (89 | ) |  |  | (12,102 | ) |  |  | (37,637 | )
Administrative and overhead expense allocation |  | (11,702 | ) |  |  | (125 | ) |  |  | 11,827 |  |  |  | - |
Net income (loss) | $ | 9,652 |  |  | $ | 3,979 |  |  | $ | (8,992 | ) |  | $ | 4,639 |
At March 31, 2012: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities | $ | - |  |  | $ | 1,646,656 |  |  | $ | - |  |  | $ | 1,646,656 |
Loans and leases (including loans held for sale) |  | 2,082,752 |  |  |  | - |  |  |  | - |  |  |  | 2,082,752 |
Other |  | 40,400 |  |  |  | 304,323 |  |  |  | 84,157 |  |  |  | 428,880 |
Total assets | $ | 2,123,152 |  |  | $ | 1,950,979 |  |  | $ | 84,157 |  |  | $ | 4,158,288 |
At December 31, 2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities | $ | - |  |  | $ | 1,493,925 |  |  | $ | - |  |  | $ | 1,493,925 |
Loans and leases (including loans held for sale) |  | 2,114,737 |  |  |  | - |  |  |  | - |  |  |  | 2,114,737 |
Other |  | 23,858 |  |  |  | 429,141 |  |  |  | 71,204 |  |  |  | 524,203 |
Total assets | $ | 2,138,595 |  |  | $ | 1,923,066 |  |  | $ | 71,204 |  |  | $ | 4,132,865 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 + Details
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