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

The financial performance of the Company is also monitored by an internal funds transfer pricing profitability measurement system which produces line of business results and key performance measures. The Company's major business units include retail banking, commercial banking, trust, and investment/parent. The reported results reflect the underlying economics of the business segments. Expenses for centrally provided services are allocated based upon the cost and estimated usage of those services. The businesses are match-funded and interest rate risk is centrally managed and accounted for within the investment/parent business segment. The key performance measure the Company focuses on for each business segment is net income contribution.

Retail banking includes the deposit-gathering branch franchise and lending to both individuals and small businesses. Lending activities include residential mortgage loans, direct consumer loans, and small business commercial loans. Commercial banking to businesses includes commercial loans, and commercial real-estate loans. The trust segment contains our wealth management businesses, which include the Trust Company, West Chester Capital Advisors- our registered investment advisory firm and financial services. Wealth management includes personal trust products and services such as personal portfolio investment management, estate planning and administration, custodial services and pre-need trusts. Also, institutional trust products and services such as 401(k) plans, defined benefit and defined contribution employee benefit plans, and individual retirement accounts are included in this segment. Financial services include the sale of mutual funds, annuities, and insurance products. The wealth management businesses also includes the union collective investment funds, namely the ERECT and BUILD funds which are designed to use union pension dollars in real estate investments and construction projects that utilize union labor. The investment/parent includes the net results of investment securities and borrowing activities, general corporate expenses not allocated to the business segments, interest expense on the guaranteed junior subordinated deferrable interest debentures, and centralized interest rate risk management. Inter-segment revenues were not material.

The contribution of the major business segments to the consolidated results of operations for the three and nine months ended September 30, 2011 and 2010 were as follows (in thousands):

 

$000,000 $000,000 $000,000 $000,000 $000,000
    Three months ended
September  30, 2011		     Nine months ended
September 30, 2011		     September 30,
2011		  
    Total
revenue		     Net
income
(loss)		     Total
revenue		     Net
income
(loss)		     Total assets  

Retail banking

   $ 6,710      $ 774      $ 19,447      $ 1,366      $ 330,441   

Commercial banking

     3,665        1,443        10,654        4,993        442,925   

Trust

     1,817        179        5,541        624        4,289   

Investment/Parent

     (550 )      (830 )      (1,389 )      (2,216 )      195,784   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 11,642      $ 1,566      $ 34,253      $ 4,767      $ 973,439   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

$000,000 $000,000 $000,000 $000,000 $000,000
    Three months ended
September 30, 2010		     Nine months ended
September 30, 2010		     September 30,
2010		  
    Total
revenue		     Net
income
(loss)		     Total
revenue		     Net
income
(loss)		     Total assets  

Retail banking

   $ 6,600      $ 458      $ 19,004      $ 952      $ 313,138   

Commercial banking

     3,079        192        9,745        (614 )      503,978   

Trust

     1,541        95        4,759              164        3,513   

Investment/Parent

     316        (136 )      1,045        (334 )      138,715   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 11,536      $ 609      $ 34,553      $ 168      $ 959,344