Segment Reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment ReportingThe Company’s primary reportable segment is its banking business, which offers a range of commercial, retail, wealth management and banking services, and consists primarily of attracting deposits from the general public and investing those deposits, together with borrowings and funds generated from operations, to originate loans in a variety of sectors and to invest in securities. Revenue from the banking business consists primarily of interest earned on loans and investment securities. In addition to its banking business reportable segment, the Company has an insurance agency business reportable segment, which consists of insurance-related activities, acting as an independent agent in offering commercial, personal and employee benefits insurance products to individual and commercial clients. Revenue from the insurance agency business consists primarily of commissions on sales of insurance products and services.

Results of operations and selected financial information by segment and reconciliation to the consolidated financial statements as of and for the years ended December 31, 2021, 2020, and 2019 were as follows:

	As of and for the year ended December 31, 2021
	Banking Business		Insurance Agency Business		Other / Eliminations		Total
	(In thousands)
Net interest income	$	429,827	$	—	$	—	$	429,827
Release of allowance for loan losses	(9,686)		—		—		(9,686)
Net interest income after provision for loan losses	439,513		—		—		439,513
Noninterest income	96,376		97,168		(389)		193,155
Noninterest expense	365,410		82,780		(4,234)		443,956
Income before provision for income taxes	170,479		14,388		3,845		188,712
Income tax provision	29,994		4,053		—		34,047
Net income	$	140,485	$	10,335	$	3,845	$	154,665
Total assets	$	23,376,521	$	204,768	$	(69,161)	$	23,512,128
Total liabilities	$	20,125,218	$	49,719	$	(69,161)	$	20,105,776

	As of and for the year ended December 31, 2020
	Banking Business		Insurance Agency Business		Other / Eliminations		Total
	(In thousands)
Net interest income	$	401,251	$	—	$	—	$	401,251
Provision for loan losses	38,800		—		—		38,800
Net interest income after provision for loan losses	362,451		—		—		362,451
Noninterest income	82,334		96,739		(700)		178,373
Noninterest expense	431,705		77,806		(4,588)		504,923
Income before provision for income taxes	13,080		18,933		3,888		35,901
Income tax provision	7,870		5,293		—		13,163
Net income	$	5,210	$	13,640	$	3,888	$	22,738
Total assets	$	15,831,175	$	200,216	$	(67,201)	$	15,964,190
Total liabilities	$	12,547,838	$	55,501	$	(67,201)	$	12,536,138

	As of and for the year ended December 31, 2019
	Banking Business		Insurance Agency Business		Other / Eliminations		Total
	(In thousands)
Net interest income	$	411,264	$	—	$	—	$	411,264
Provision for loan losses	6,300		—		—		6,300
Net interest income after provision for loan losses	404,964		—		—		404,964
Noninterest income	89,840		92,705		(246)		182,299
Noninterest expense	337,323		79,043		(3,682)		412,684
Income before provision for income taxes	157,481		13,662		3,436		174,579
Income tax provision	35,542		3,939		—		39,481
Net income	$	121,939	$	9,723	$	3,436	$	135,098
Total assets	$	11,515,117	$	165,965	$	(52,307)	$	11,628,775
Total liabilities	$	10,046,189	$	34,740	$	(52,307)	$	10,028,622