Business Segments |
15. BUSINESS SEGMENTS
The Corporation operates in four reportable segments: Community
Banking, Wealth Management, Insurance and Consumer Finance.
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The Community Banking segment
provides commercial and consumer banking services. Commercial
banking solutions include corporate banking, small business
banking, investment real estate financing, international banking,
business credit, capital markets and lease financing. Consumer
banking products and services include deposit products, mortgage
lending, consumer lending and a complete suite of mobile and online
banking services. |
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The Wealth Management segment
provides a broad range of personal and corporate fiduciary services
including the administration of decedent and trust estates. In
addition, it offers various alternative products, including
securities brokerage and investment advisory services, mutual funds
and annuities. |
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The Insurance segment includes a
full-service insurance agency offering all lines of commercial and
personal insurance through major carriers. The Insurance segment
also includes a reinsurer. |
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The Consumer Finance segment
primarily makes installment loans to individuals and purchases
installment sales finance contracts from retail merchants. The
Consumer Finance segment activity is funded through the sale of the
Corporation’s subordinated notes at the finance
company’s branch offices. |
The following tables provide financial information for these
segments of the Corporation. The information provided under the
caption “Parent and Other” represents operations not
considered to be reportable segments and/or general operating
expenses of the Corporation, and includes the parent company, other
non-bank subsidiaries and eliminations and adjustments which are
necessary for purposes of reconciliation to the consolidated
amounts.
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Community
Banking |
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Wealth
Management |
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Insurance |
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Consumer
Finance |
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Parent
and Other |
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Consolidated |
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At or for the Three Months Ended March 31, 2016
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Interest income
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$ |
143,978 |
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$ |
— |
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$ |
22 |
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$ |
9,785 |
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$ |
1,969 |
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$ |
155,754 |
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Interest expense
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12,594 |
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— |
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— |
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941 |
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1,865 |
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15,400 |
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Net interest income
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131,384 |
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— |
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22 |
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8,844 |
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104 |
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140,354 |
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Provision for credit losses
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9,917 |
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— |
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— |
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1,526 |
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325 |
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11,768 |
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Non-interest income
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31,233 |
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8,816 |
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4,194 |
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716 |
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1,085 |
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46,044 |
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Non-interest expense
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118,048 |
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7,089 |
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3,301 |
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5,204 |
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357 |
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133,999 |
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Intangible amortization
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2,441 |
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65 |
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143 |
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— |
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— |
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2,649 |
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Income tax expense (benefit)
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10,117 |
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605 |
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275 |
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1,112 |
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(259 |
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11,850 |
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Net income (loss)
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22,094 |
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1,057 |
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497 |
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1,718 |
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766 |
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26,132 |
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Total assets
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20,151,815 |
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20,540 |
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21,680 |
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188,547 |
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(58,058 |
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20,324,524 |
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Total intangibles
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1,062,079 |
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10,383 |
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12,779 |
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1,809 |
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— |
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1,087,050 |
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Community
Banking |
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Wealth
Management |
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Insurance |
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Consumer
Finance |
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Parent
and Other |
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Consolidated |
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At or for the Three Months Ended March 31, 2015
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Interest income
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$ |
122,118 |
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$ |
— |
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$ |
23 |
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$ |
9,593 |
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$ |
1,635 |
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$ |
133,369 |
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Interest expense
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9,941 |
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— |
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— |
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860 |
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647 |
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11,448 |
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Net interest income
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112,177 |
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— |
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23 |
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8,733 |
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988 |
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121,921 |
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Provision for credit losses
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6,327 |
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— |
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— |
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1,574 |
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235 |
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8,136 |
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Non-interest income
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27,301 |
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8,387 |
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3,593 |
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676 |
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(1,775 |
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38,182 |
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Non-interest expense
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77,079 |
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6,493 |
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4,170 |
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4,808 |
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(10 |
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92,540 |
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Intangible amortization
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1,947 |
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68 |
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100 |
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— |
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— |
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2,115 |
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Income tax expense (benefit)
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15,931 |
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658 |
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(226 |
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1,149 |
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(543 |
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16,969 |
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Net income (loss)
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38,194 |
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1,168 |
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(428 |
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1,878 |
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(469 |
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40,343 |
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Total assets
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16,100,851 |
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21,125 |
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18,464 |
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182,662 |
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(44,254 |
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16,278,848 |
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Total intangibles
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852,764 |
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10,652 |
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10,021 |
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1,809 |
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— |
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875,246 |
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