| Segment Reporting |
NOTE 10: SEGMENT REPORTING
For the quarter and nine months ended September 30, 2017 and 2016, the Company had two reportable business segments: Banking (FFB and FFIS) and Wealth Management (FFA). The results of FFI and any elimination entries are included in the column labeled Other. The following tables show key operating results for each of our business segments used to arrive at our consolidated totals for the following periods:
|
(dollars in thousands) |
|
Banking |
|
|
Wealth Management |
|
|
Other |
|
|
Total |
|
|
Quarter ended September 30, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
34,877 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
34,878 |
|
|
Interest expense |
|
|
6,210 |
|
|
|
— |
|
|
|
228 |
|
|
|
6,438 |
|
|
Net interest income |
|
|
28,667 |
|
|
|
1 |
|
|
|
(228 |
) |
|
|
28,440 |
|
|
Provision for loan losses |
|
|
701 |
|
|
|
— |
|
|
|
— |
|
|
|
701 |
|
|
Noninterest income |
|
|
3,955 |
|
|
|
6,132 |
|
|
|
(224 |
) |
|
|
9,863 |
|
|
Noninterest expense |
|
|
17,333 |
|
|
|
5,096 |
|
|
|
964 |
|
|
|
23,393 |
|
|
Income (loss) before taxes on income |
|
$ |
14,588 |
|
|
$ |
1,037 |
|
|
$ |
(1,416 |
) |
|
$ |
14,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended September 30, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
26,004 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
26,004 |
|
|
Interest expense |
|
|
2,841 |
|
|
|
— |
|
|
|
— |
|
|
|
2,841 |
|
|
Net interest income |
|
|
23,163 |
|
|
|
— |
|
|
|
— |
|
|
|
23,163 |
|
|
Provision for loan losses |
|
|
1,231 |
|
|
|
— |
|
|
|
— |
|
|
|
1,231 |
|
|
Noninterest income |
|
|
9,923 |
|
|
|
5,319 |
|
|
|
(163 |
) |
|
|
15,079 |
|
|
Noninterest expense |
|
|
16,134 |
|
|
|
4,697 |
|
|
|
705 |
|
|
|
21,536 |
|
|
Income (loss) before taxes on income |
|
$ |
15,721 |
|
|
$ |
622 |
|
|
$ |
(868 |
) |
|
$ |
15,475 |
|
|
|
|
Banking |
|
|
Wealth Management |
|
|
Other |
|
|
Total |
|
|
Nine months ended September 30, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
98,889 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
98,890 |
|
|
Interest expense |
|
|
16,062 |
|
|
|
— |
|
|
|
435 |
|
|
|
16,497 |
|
|
Net interest income |
|
|
82,827 |
|
|
|
1 |
|
|
|
(435 |
) |
|
|
82,393 |
|
|
Provision for loan losses |
|
|
1,862 |
|
|
|
— |
|
|
|
— |
|
|
|
1,862 |
|
|
Noninterest income |
|
|
10,636 |
|
|
|
17,334 |
|
|
|
(627 |
) |
|
|
27,343 |
|
|
Noninterest expense |
|
|
51,506 |
|
|
|
15,328 |
|
|
|
3,481 |
|
|
|
70,315 |
|
|
Income (loss) before taxes on income |
|
$ |
40,095 |
|
|
$ |
2,007 |
|
|
$ |
(4,543 |
) |
|
$ |
37,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended September 30, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
72,275 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
72,275 |
|
|
Interest expense |
|
|
7,830 |
|
|
|
— |
|
|
|
— |
|
|
|
7,830 |
|
|
Net interest income |
|
|
64,445 |
|
|
|
— |
|
|
|
— |
|
|
|
64,445 |
|
|
Provision for loan losses |
|
|
2,881 |
|
|
|
— |
|
|
|
— |
|
|
|
2,881 |
|
|
Noninterest income |
|
|
11,505 |
|
|
|
15,917 |
|
|
|
(448 |
) |
|
|
26,974 |
|
|
Noninterest expense |
|
|
43,746 |
|
|
|
14,536 |
|
|
|
2,521 |
|
|
|
60,803 |
|
|
Income (loss) before taxes on income |
|
$ |
29,323 |
|
|
$ |
1,381 |
|
|
$ |
(2,969 |
) |
|
$ |
27,735 |
|
|