v3.8.0.1

Segment Reporting | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Segment Reporting | NOTE 21: SEGMENT REPORTING In 2017, 2016, and 2015 the Company had two reportable business segments: Banking (FFB) and Wealth Management (FFA). The results of FFI and any elimination entries are included in the column labeled Other. The reportable segments are determined by products and services offered and the corporate structure. Business segment earnings before taxes are the primary measure of the segment's performance as evaluated by management. Business segment earnings before taxes include direct revenue and expenses of the segment as well as corporate and inter-company cost allocations. Allocations of corporate expenses, such as finance and accounting, data processing and human resources, are calculated based on estimated activity or usage levels. The management accounting process measures the performance of the operating segments based on the Company's management structure and is not necessarily comparable with similar information for other financial services companies. If the management structures and/or the allocation process changes, allocations, transfers and assignments may change. The following tables show key operating results for each of our business segments used to arrive at our consolidated totals for the years ended December 31:
(dollars in thousands) |  | Banking |  |  | Wealth Management |  |  | Other |  |  | Total |
2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 136,801 |  |  | $ | — |  |  | $ | — |  |  | $ | 136,801 |
Interest expense |  |  | 22,530 |  |  |  | — |  |  |  | 653 |  |  |  | 23,183 |
Net interest income |  |  | 114,271 |  |  |  | — |  |  |  | (653 | ) |  |  | 113,618 |
Provision for loan losses |  |  | 2,762 |  |  |  | — |  |  |  | — |  |  |  | 2,762 |
Noninterest income |  |  | 16,016 |  |  |  | 23,556 |  |  |  | (853 | ) |  |  | 38,719 |
Noninterest expense |  |  | 73,990 |  |  |  | 20,469 |  |  |  | 4,517 |  |  |  | 98,976 |
Income (loss) before taxes on income |  | $ | 53,535 |  |  | $ | 3,087 |  |  | $ | (6,023 | ) |  | $ | 50,599 |
2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 100,642 |  |  | $ | — |  |  | $ | — |  |  | $ | 100,642 |
Interest expense |  |  | 11,193 |  |  |  | — |  |  |  | — |  |  |  | 11,193 |
Net interest income |  |  | 89,449 |  |  |  | — |  |  |  | — |  |  |  | 89,449 |
Provision for loan losses |  |  | 4,681 |  |  |  | — |  |  |  | — |  |  |  | 4,681 |
Noninterest income |  |  | 13,832 |  |  |  | 21,348 |  |  |  | (620 | ) |  |  | 34,560 |
Noninterest expense |  |  | 58,422 |  |  |  | 19,232 |  |  |  | 3,340 |  |  |  | 80,994 |
Income (loss) before taxes on income |  | $ | 40,178 |  |  | $ | 2,116 |  |  | $ | (3,960 | ) |  | $ | 38,334 |
2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | $ | 64,471 |  |  | $ | — |  |  | $ | — |  |  | $ | 64,471 |
Interest expense |  |  | 5,607 |  |  |  | — |  |  |  | 674 |  |  |  | 6,281 |
Net interest income |  |  | 58,864 |  |  |  | — |  |  |  | (674 | ) |  |  | 58,190 |
Provision for loan losses |  |  | 2,673 |  |  |  | — |  |  |  | — |  |  |  | 2,673 |
Noninterest income |  |  | 8,833 |  |  |  | 20,530 |  |  |  | (590 | ) |  |  | 28,773 |
Noninterest expense |  |  | 39,982 |  |  |  | 18,352 |  |  |  | 3,124 |  |  |  | 61,458 |
Income (loss) before taxes on income |  | $ | 25,042 |  |  | $ | 2,178 |  |  | $ | (4,388 | ) |  | $ | 22,832 |
The following tables show the financial position for each of our business segments, and of FFI which is included in the column labeled Other, and the eliminating entries used to arrive at our consolidated totals at December 31:
(dollars in thousands) |  | Banking |  |  | Wealth Management |  |  | Other |  |  | Eliminations |  |  | Total |
2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 120,261 |  |  | $ | 4,407 |  |  | $ | 12,664 |  |  | $ | (16,938 | ) |  | $ | 120,394 |
Securities AFS |  |  | 519,364 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 519,364 |
Loans Held For Sale |  |  | 154,380 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 154,380 |
Loans, net |  |  | 3,645,327 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,645,327 |
Premises and equipment |  |  | 5,519 |  |  |  | 926 |  |  |  | 136 |  |  |  | — |  |  |  | 6,581 |
FHLB Stock |  |  | 19,060 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,060 |
Deferred taxes |  |  | 12,008 |  |  |  | 172 |  |  |  | (37 | ) |  |  | — |  |  |  | 12,143 |
REO |  |  | 2,920 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,920 |
Goodwill and Intangibles |  |  | 33,576 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 33,576 |
Other assets |  |  | 25,521 |  |  |  | 179 |  |  |  | 431,335 |  |  |  | (429,595 | ) |  |  | 27,440 |
Total assets |  | $ | 4,537,936 |  |  | $ | 5,684 |  |  | $ | 444,098 |  |  | $ | (446,533 | ) |  | $ | 4,541,185 |
Deposits |  | $ | 3,460,465 |  |  | $ | — |  |  | $ | — |  |  | $ | (16,938 | ) |  | $ | 3,443,527 |
Borrowings |  |  | 628,000 |  |  |  | — |  |  |  | 50,000 |  |  |  | — |  |  |  | 678,000 |
Intercompany balances |  |  | 3,301 |  |  |  | 643 |  |  |  | (3,944 | ) |  |  | — |  |  |  | — |
Other liabilities |  |  | 18,646 |  |  |  | 2,970 |  |  |  | 3,091 |  |  |  | — |  |  |  | 24,707 |
Shareholders’ equity |  |  | 427,524 |  |  |  | 2,071 |  |  |  | 394,951 |  |  |  | (429,595 | ) |  |  | 394,951 |
Total liabilities and equity |  | $ | 4,537,936 |  |  | $ | 5,684 |  |  | $ | 444,098 |  |  | $ | (446,533 | ) |  | $ | 4,541,185 |
2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 597,795 |  |  | $ | 2,576 |  |  | $ | 6,318 |  |  | $ | (8,743 | ) |  | $ | 597,946 |
Securities AFS |  |  | 509,578 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 509,578 |
Loans Held For Sale |  |  | 250,942 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 250,942 |
Loans, net |  |  | 2,540,309 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,540,309 |
Premises and equipment |  |  | 5,603 |  |  |  | 991 |  |  |  | 136 |  |  |  | — |  |  |  | 6,730 |
FHLB Stock |  |  | 33,750 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 33,750 |
Deferred taxes |  |  | 16,602 |  |  |  | 283 |  |  |  | (74 | ) |  |  | — |  |  |  | 16,811 |
REO |  |  | 1,734 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,734 |
Goodwill and Intangibles |  |  | 2,177 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,177 |
Other assets |  |  | 13,270 |  |  |  | 445 |  |  |  | 274,256 |  |  |  | (272,545 | ) |  |  | 15,426 |
Total assets |  | $ | 3,971,760 |  |  | $ | 4,295 |  |  | $ | 280,636 |  |  | $ | (281,288 | ) |  | $ | 3,975,403 |
Deposits |  | $ | 2,435,538 |  |  | $ | — |  |  | $ | — |  |  | $ | (8,743 | ) |  | $ | 2,426,795 |
Borrowings |  |  | 1,250,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,250,000 |
Intercompany balances |  |  | 3,019 |  |  |  | 539 |  |  |  | (3,558 | ) |  |  | — |  |  |  | — |
Other liabilities |  |  | 11,670 |  |  |  | 2,744 |  |  |  | (70 | ) |  |  | — |  |  |  | 14,344 |
Shareholders’ equity |  |  | 271,533 |  |  |  | 1,012 |  |  |  | 284,264 |  |  |  | (272,545 | ) |  |  | 284,264 |
Total liabilities and equity |  | $ | 3,971,760 |  |  | $ | 4,295 |  |  | $ | 280,636 |  |  | $ | (281,288 | ) |  | $ | 3,975,403 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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