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Segment Information
9 Months Ended
Sep. 30, 2011
Segment Information [Abstract] 
Segment Information

Note 11. Segment Information

The Company operates within two business segments, Community Banking and Insurance Services. The Community Banking segment includes both commercial and consumer lending and deposit services. This segment provides customers with such products as commercial loans, real estate loans, business financing, and consumer loans. This segment also provides customers with a range of deposit products including demand deposit accounts, savings accounts, and certificates of deposit. In addition, the Community Banking segment provides wealth management services to a broad range of customers. The Insurance Services segment is a full-service insurance agency providing commercial and personal lines of insurance.

 

The following table sets forth information about the reportable operating segments and reconciliation of this information to the consolidated financial statements at and for the three- and nine-month periods ended September 30, 2011 and 2010.

 

                                 
    For the Three Months  
    Ended September 30, 2011  
    Community     Insurance     Parent/        
    Banking     Services     Elimination     Total  
(In Thousands)                        

Net interest income (expense)

   $ 17,824     $ (18 )    $ (72 )    $ 17,734  

Provision for loan losses

     1,920       —         —         1,920  

Noninterest income (loss)

     6,513       1,579       (26 )      8,066  

Noninterest expense (income)

     14,929       1,286       (155 )      16,060  
   

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     7,488       275       57       7,820  

Provision for income taxes

     2,370       109       23       2,502  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income

     5,118       166       34       5,318  

Preferred dividend

     —         —         286       286  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) to common shareholders

   $ 5,118     $ 166     $ (252 )    $ 5,032  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period goodwill and other intangibles

   $ 78,157     $ 10,251     $ —       $ 88,408  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period assets

   $ 2,200,482     $ 13,179     $ 6,431     $ 2,220,092  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                                 
    For the Nine Months  
    Ended September 30, 2011  
    Community     Insurance     Parent/        
    Banking     Services     Elimination     Total  
(In Thousands)                        

Net interest income (expense)

   $ 54,034     $ (87 )    $ (184 )    $ 53,763  

Provision for loan losses

     6,611       —         —         6,611  

Noninterest income (loss)

     24,237       5,129       (438 )      28,928  

Noninterest expense (income)

     48,222       4,353       (714 )      51,861  
   

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     23,438       689       92       24,219  

Provision for income taxes

     7,108       272       42       7,422  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income

     16,330       417       50       16,797  

Preferred dividend

     —         —         417       417  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) to common shareholders

   $ 16,330     $ 417     $ (367 )    $ 16,380  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period goodwill and other intangibles

   $ 78,157     $ 10,251     $ —       $ 88,408  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period assets

   $ 2,200,482     $ 13,179     $ 6,431     $ 2,220,092  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                                 
    For the Three Months  
    Ended September 30, 2010  
    Community     Insurance     Parent/        
    Banking     Services     Elimination     Total  
(In Thousands)                        

Net interest income (expense)

   $ 18,657     $ (34 )    $ (26 )    $ 18,597  

Provision for loan losses

     3,810       —         —         3,810  

Noninterest income

     9,340       1,683       (85 )      10,938  

Noninterest expense (income)

     16,085       1,483       (139 )      17,429  
   

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     8,102       166       28       8,296  

Provision for income taxes

     1,663       66       14       1,743  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income

   $ 6,439     $ 100     $ 14     $ 6,553  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period goodwill and other intangibles

   $ 78,877     $ 12,288     $ —       $ 91,165  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period assets

   $ 2,278,972     $ 13,190     $ 5,263     $ 2,297,425  
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                                 
    For the Nine Months  
    Ended September 30, 2010  
    Community     Insurance     Parent/        
    Banking     Services     Elimination     Total  
(In Thousands)                        

Net interest income (expense)

   $ 55,916     $ (91 )    $ (67 )    $ 55,758  

Provision for loan losses

     11,071       —         —         11,071  

Noninterest income (loss)

     23,380       5,310       (270 )      28,420  

Noninterest expense (income)

     46,468       4,364       (733 )      50,099  
   

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     21,757       855       396       23,008  

Provision for income taxes

     5,546       338       162       6,046  
   

 

 

    

 

 

    

 

 

    

 

 

  

Net income

   $ 16,211     $ 517     $ 234     $ 16,962  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period goodwill and other intangibles

   $ 78,877     $ 12,288     $ —       $ 91,165  
   

 

 

    

 

 

    

 

 

    

 

 

  

End of period assets

   $ 2,278,972     $ 13,190     $ 5,263     $ 2,297,425