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BUSINESS SEGMENTS (Tables)
6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Schedule of income and total assets for reportable segments

The following tables present the statements of income and total assets for the Corporation’s reportable segments for the three and six months ended June 30, 2018 and 2017.

 

 

 

Three Months Ended June 30, 2018

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

27,953

 

 

$

1,290

 

 

$

29,243

 

Noninterest income

 

 

3,353

 

 

 

8,387

 

 

 

11,740

 

Total income

 

 

31,306

 

 

 

9,677

 

 

 

40,983

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

300

 

 

 

 

 

 

300

 

Compensation and benefits

 

 

11,932

 

 

 

3,894

 

 

 

15,826

 

Premises and equipment expense

 

 

2,982

 

 

 

424

 

 

 

3,406

 

FDIC expense

 

 

625

 

 

 

 

 

 

625

 

Other noninterest expense

 

 

2,998

 

 

 

2,086

 

 

 

5,084

 

Total noninterest expense

 

 

18,837

 

 

 

6,404

 

 

 

25,241

 

Income before income tax expense

 

 

12,469

 

 

 

3,273

 

 

 

15,742

 

Income tax expense

 

 

3,033

 

 

 

799

 

 

 

3,832

 

Net income

 

$

9,436

 

 

$

2,474

 

 

$

11,910

 

 

 

 

Three Months Ended June 30, 2017

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

25,654

 

 

$

1,318

 

 

$

26,972

 

Noninterest income

 

 

2,953

 

 

 

5,218

 

 

 

8,171

 

Total income

 

 

28,607

 

 

 

6,536

 

 

 

35,143

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

2,200

 

 

 

 

 

 

2,200

 

Compensation and benefits

 

 

10,486

 

 

 

2,265

 

 

 

12,751

 

Premises and equipment expense

 

 

2,735

 

 

 

298

 

 

 

3,033

 

FDIC Expense

 

 

602

 

 

 

 

 

 

602

 

Other noninterest expense

 

 

2,088

 

 

 

1,621

 

 

 

3,709

 

Total noninterest expense

 

 

18,111

 

 

 

4,184

 

 

 

22,295

 

Income before income tax expense

 

 

10,496

 

 

 

2,352

 

 

 

12,848

 

Income tax expense

 

 

4,023

 

 

 

885

 

 

 

4,908

 

Net income

 

$

6,473

 

 

$

1,467

 

 

$

7,940

 

 

 

Six Months Ended June 30, 2018

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

54,801

 

 

$

2,835

 

 

$

57,636

 

Noninterest income

 

 

4,980

 

 

 

16,975

 

 

 

21,955

 

Total income

 

 

59,781

 

 

 

19,810

 

 

 

79,591

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

1,550

 

 

 

 

 

 

1,550

 

Compensation and benefits

 

 

22,263

 

 

 

8,142

 

 

 

30,405

 

Premises and equipment expense

 

 

5,821

 

 

 

855

 

 

 

6,676

 

FDIC expense

 

 

1,205

 

 

 

 

 

 

1,205

 

Other noninterest expense

 

 

5,659

 

 

 

4,333

 

 

 

9,992

 

Total noninterest expense

 

 

36,498

 

 

 

13,330

 

 

 

49,828

 

Income before income tax expense

 

 

23,283

 

 

 

6,480

 

 

 

29,763

 

Income tax expense

 

 

5,512

 

 

 

1,534

 

 

 

7,046

 

Net income

 

$

17,771

 

 

$

4,946

 

 

$

22,717

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets for period end

 

$

4,208,731

 

 

$

56,443

 

 

$

4,265,174

 

 

 

 

Six Months Ended June 30, 2017

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

49,685

 

 

$

2,878

 

 

$

52,563

 

Noninterest income

 

 

5,047

 

 

 

10,143

 

 

 

15,190

 

Total income

 

 

54,732

 

 

 

13,021

 

 

 

67,753

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

3,800

 

 

 

 

 

 

3,800

 

Compensation and benefits

 

 

19,800

 

 

 

4,864

 

 

 

24,664

 

Premises and equipment expense

 

 

5,272

 

 

 

577

 

 

 

5,849

 

FDIC Expense

 

 

1,288

 

 

 

 

 

 

1,288

 

Other noninterest expense

 

 

4,104

 

 

 

3,494

 

 

 

7,598

 

Total noninterest expense

 

 

34,264

 

 

 

8,935

 

 

 

43,199

 

Income before income tax expense

 

 

20,468

 

 

 

4,086

 

 

 

24,554

 

Income tax expense

 

 

7,196

 

 

 

1,436

 

 

 

8,632

 

Net income

 

$

13,272

 

 

$

2,650

 

 

$

15,922

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets for period end

 

$

4,138,639

 

 

$

27,040

 

 

$

4,165,679