| Segment Reporting |
NOTE 10: SEGMENT REPORTING
For the quarters ended March 31, 2018 and 2017, 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 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 March 31, 2018: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
43,319 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
43,319 |
|
|
Interest expense |
|
|
8,520 |
|
|
|
— |
|
|
|
531 |
|
|
|
9,051 |
|
|
Net interest income |
|
|
34,799 |
|
|
|
— |
|
|
|
(531 |
) |
|
|
34,268 |
|
|
Provision for loan losses |
|
|
1,688 |
|
|
|
— |
|
|
|
— |
|
|
|
1,688 |
|
|
Noninterest income |
|
|
2,557 |
|
|
|
6,414 |
|
|
|
11 |
|
|
|
8,982 |
|
|
Noninterest expense |
|
|
21,811 |
|
|
|
5,817 |
|
|
|
1,360 |
|
|
|
28,988 |
|
|
Income (loss) before taxes on income |
|
$ |
13,857 |
|
|
$ |
597 |
|
|
$ |
(1,880 |
) |
|
$ |
12,574 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter ended March 31, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
30,360 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
30,360 |
|
|
Interest expense |
|
|
4,277 |
|
|
|
— |
|
|
|
25 |
|
|
|
4,302 |
|
|
Net interest income |
|
|
26,083 |
|
|
|
— |
|
|
|
(25 |
) |
|
|
26,058 |
|
|
Provision for loan losses |
|
|
69 |
|
|
|
— |
|
|
|
— |
|
|
|
69 |
|
|
Noninterest income |
|
|
2,516 |
|
|
|
5,457 |
|
|
|
(190 |
) |
|
|
7,783 |
|
|
Noninterest expense |
|
|
18,331 |
|
|
|
5,190 |
|
|
|
1,188 |
|
|
|
24,709 |
|
|
Income (loss) before taxes on income |
|
$ |
10,199 |
|
|
$ |
267 |
|
|
$ |
(1,403 |
) |
|
$ |
9,063 |
|
|