Business Segments

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Business Segments

15. BUSINESS SEGMENTS

The Corporation operates in four reportable segments: Community Banking, Wealth Management, Insurance and Consumer Finance.

• 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.

• 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.

• 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.

• 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 subordinated notes, which are issued by a wholly-owned subsidiary and guaranteed by the Corporation.

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 financial statements.

(in thousands)	Community Banking		Wealth Management		Insurance		Consumer Finance		Parent and Other			Consolidated
At or for the Three Months Ended September 30, 2016
Interest income	$	162,714	$	—	$	21	$	10,260	$	2,115		$	175,110
Interest expense		14,791		—		—		949		1,864			17,604
Net interest income		147,923		—		21		9,311		251			157,506
Provision for credit losses		12,766		—		—		1,517		356			14,639
Non-interest income		40,760		8,835		3,847		728		(930	)		53,240
Non-interest expense		101,744		6,619		3,249		5,328		539			117,479
Intangible amortization		3,422		65		84		—		—			3,571
Income tax expense (benefit)		21,449		781		196		1,238		(775	)		22,889
Net income (loss)		49,302		1,370		339		1,956		(799	)		52,168
Total assets		21,383,500		19,490		21,464		191,524		(32,064	)		21,583,914
Total intangibles		1,079,196		10,253		12,394		1,809		—			1,103,652
At or for the Three Months Ended September 30, 2015
Interest income	$	125,281	$	—	$	22	$	10,096	$	1,798		$	137,197
Interest expense		10,473		—		—		878		645			11,996
Net interest income		114,808		—		22		9,218		1,153			125,201
Provision for credit losses		8,702		—		—		1,750		325			10,777
Non-interest income		29,667		8,682		3,602		716		(1,308	)		41,359
Non-interest expense		80,906		6,703		3,201		4,983		322			96,115
Intangible amortization		1,824		69		141		—		—			2,034
Income tax expense (benefit)		15,804		696		105		1,473		(497	)		17,581
Net income (loss)		37,239		1,214		177		1,728		(305	)		40,053
Total assets		16,658,489		21,099		22,201		187,721		(53,437	)		16,836,073
Total intangibles		855,164		10,516		13,069		1,809		—			880,558

(in thousands)	Community Banking		Wealth Management		Insurance			Consumer Finance		Parent and Other			Consolidated
At or for the Nine Months Ended September 30, 2016
Interest income	$	465,592	$	—	$	64		$	30,171	$	5,968		$	501,795
Interest expense		41,153		—		—			2,820		5,593			49,566
Net interest income		424,439		—		64			27,351		375			452,229
Provision for credit losses		37,081		—		—			4,515		1,451			43,047
Non-interest income		111,507		26,834		11,309			2,198		(1,153	)		150,695
Non-interest expense		329,578		20,668		9,826			15,904		1,743			377,719
Intangible amortization		9,043		194		371			—		—			9,608
Income tax expense (benefit)		48,850		2,168		430			3,558		(2,056	)		52,950
Net income (loss)		111,394		3,804		746			5,572		(1,916	)		119,600
Total assets		21,383,500		19,490		21,464			191,524		(32,064	)		21,583,914
Total intangibles		1,079,196		10,253		12,394			1,809		—			1,103,652
At or for the Nine Months Ended September 30, 2015
Interest income	$	371,366	$	—	$	67		$	29,467	$	5,114		$	406,014
Interest expense		30,580		—		—			2,593		1,952			35,125
Net interest income		340,786		—		67			26,874		3,162			370,889
Provision for credit losses		21,974		—		—			5,288		515			27,777
Non-interest income		85,281		26,268		9,948			2,124		(4,328	)		119,293
Non-interest expense		236,324		20,127		10,952			14,785		967			283,155
Intangible amortization		5,601		205		342			—		—			6,148
Income tax expense (benefit)		48,744		2,143		(433	)		3,660		(1,539	)		52,575
Net income (loss)		113,424		3,793		(846	)		5,265		(1,109	)		120,527
Total assets		16,658,489		21,099		22,201			187,721		(53,437	)		16,836,073
Total intangibles		855,164		10,516		13,069			1,809		—			880,558