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BUSINESS SEGMENTS (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2018 and 2017.

 

 

 

Three Months Ended September 30, 2018

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

27,032

 

 

$

1,110

 

 

$

28,142

 

Noninterest income

 

 

2,570

 

 

 

8,413

 

 

 

10,983

 

Total income

 

 

29,602

 

 

 

9,523

 

 

 

39,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

500

 

 

 

 

 

 

500

 

Compensation and benefits

 

 

11,257

 

 

 

4,768

 

 

 

16,025

 

Premises and equipment expense

 

 

2,967

 

 

 

432

 

 

 

3,399

 

FDIC expense

 

 

593

 

 

 

 

 

 

593

 

Other noninterest expense

 

 

2,202

 

 

 

2,065

 

 

 

4,267

 

Total noninterest expense

 

 

17,519

 

 

 

7,265

 

 

 

24,784

 

Income before income tax expense

 

 

12,083

 

 

 

2,258

 

 

 

14,341

 

Income tax expense

 

 

3,039

 

 

 

578

 

 

 

3,617

 

Net income

 

$

9,044

 

 

$

1,680

 

 

$

10,724

 

 

 

 

Three Months Ended September 30, 2017

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

28,687

 

 

$

1,305

 

 

$

29,992

 

Noninterest income

 

 

2,928

 

 

 

5,903

 

 

 

8,831

 

Total income

 

 

31,615

 

 

 

7,208

 

 

 

38,823

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

400

 

 

 

 

 

 

400

 

Compensation and benefits

 

 

10,992

 

 

 

3,004

 

 

 

13,996

 

Premises and equipment expense

 

 

2,619

 

 

 

326

 

 

 

2,945

 

FDIC Expense

 

 

583

 

 

 

 

 

 

583

 

Other noninterest expense

 

 

2,584

 

 

 

1,853

 

 

 

4,437

 

Total noninterest expense

 

 

17,178

 

 

 

5,183

 

 

 

22,361

 

Income before income tax expense

 

 

14,437

 

 

 

2,025

 

 

 

16,462

 

Income tax expense

 

 

5,474

 

 

 

782

 

 

 

6,256

 

Net income

 

$

8,963

 

 

$

1,243

 

 

$

10,206

 

 

 

Nine Months Ended September 30, 2018

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

81,833

 

 

$

3,945

 

 

$

85,778

 

Noninterest income

 

 

7,550

 

 

 

25,388

 

 

 

32,938

 

Total income

 

 

89,383

 

 

 

29,333

 

 

 

118,716

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

2,050

 

 

 

 

 

 

2,050

 

Compensation and benefits

 

 

33,520

 

 

 

12,910

 

 

 

46,430

 

Premises and equipment expense

 

 

8,788

 

 

 

1,287

 

 

 

10,075

 

FDIC expense

 

 

1,798

 

 

 

 

 

 

1,798

 

Other noninterest expense

 

 

7,860

 

 

 

6,399

 

 

 

14,259

 

Total noninterest expense

 

 

54,016

 

 

 

20,596

 

 

 

74,612

 

Income before income tax expense

 

 

35,367

 

 

 

8,737

 

 

 

44,104

 

Income tax expense

 

 

8,551

 

 

 

2,112

 

 

 

10,663

 

Net income

 

$

26,816

 

 

$

6,625

 

 

$

33,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets for period end

 

$

4,367,950

 

 

$

67,759

 

 

$

4,435,709

 

 

 

 

Nine Months Ended September 30, 2017

 

 

 

 

 

 

 

Wealth

 

 

 

 

 

 

 

 

 

 

 

Management

 

 

 

 

 

(In thousands)

 

Banking

 

 

Division

 

 

Total

 

Net interest income

 

$

78,372

 

 

$

4,183

 

 

$

82,555

 

Noninterest income

 

 

7,975

 

 

 

16,046

 

 

 

24,021

 

Total income

 

 

86,347

 

 

 

20,229

 

 

 

106,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for loan and lease losses

 

 

4,200

 

 

 

 

 

 

4,200

 

Compensation and benefits

 

 

30,792

 

 

 

7,868

 

 

 

38,660

 

Premises and equipment expense

 

 

7,891

 

 

 

903

 

 

 

8,794

 

FDIC Expense

 

 

1,871

 

 

 

 

 

 

1,871

 

Other noninterest expense

 

 

6,688

 

 

 

5,347

 

 

 

12,035

 

Total noninterest expense

 

 

51,442

 

 

 

14,118

 

 

 

65,560

 

Income before income tax expense

 

 

34,905

 

 

 

6,111

 

 

 

41,016

 

Income tax expense

 

 

12,670

 

 

 

2,218

 

 

 

14,888

 

Net income

 

$

22,235

 

 

$

3,893

 

 

$

26,128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets for period end

 

$

4,148,222

 

 

$

28,110

 

 

$

4,176,332