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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
SEGMENT REPORTING

Note 16 - Segment Reporting

Currently, the Company conducts business in three operating segments—Community Banking, Insurance and Investment Management. Each of the operating segments is a strategic business unit that offers different products and services. The Insurance and Investment Management segments were businesses that were acquired in separate transactions where management of the acquired business was retained. The accounting policies of the segments are the same as those of the Company. However, the segment data reflect inter-segment transactions and balances.

The Community Banking segment is conducted through Sandy Spring Bank and involves delivering a broad range of financial products and services, including various loan and deposit products to both individuals and businesses. Parent company income is included in the Community Banking segment, as the majority of effort of these functions is related to this segment. Major revenue sources include net interest income, gains on sales of mortgage loans, trust income fees and service charges on deposit accounts. Expenses include personnel, occupancy, marketing, equipment and other expenses. Non-cash charges associated with amortization of intangibles was $0.5 million and $1.6 million for the three and nine months ended September 30, 2018, respectively. This amount was not significant for the three and nine months ended September 30, 2017.

The Insurance segment is conducted through Sandy Spring Insurance Corporation, a subsidiary of the Bank, and offers annuities as an alternative to traditional deposit accounts. Sandy Spring Insurance Corporation operates Sandy Spring Insurance, a general insurance agency located in Annapolis, Maryland, and Neff and Associates, located in Ocean City, Maryland. Major sources of revenue are insurance commissions from commercial lines, personal lines, and medical liability lines. Expenses include personnel and support charges. Non-cash charges associated with amortization of intangibles were not significant for the three and nine months ended September 30, 2018 and 2017, respectively.

The Investment Management segment is conducted through West Financial Services, Inc., a subsidiary of the Bank. This asset management and financial planning firm, located in McLean, Virginia, provides comprehensive investment management and financial planning to individuals, families, small businesses and associations including cash flow analysis, investment review, tax planning, retirement planning, insurance analysis and estate planning. West Financial currently has approximately $1.6 billion in assets under management. Major revenue sources include non-interest income earned on the above services. Expenses include personnel and support charges. Non-cash charges associated with amortization of intangibles were not significant for the three and nine months ended September 30, 2018 and 2017, respectively.

Information for the operating segments and reconciliation of the information to the condensed consolidated financial statements for the periods indicated is presented in the following tables:

Three Months Ended September 30, 2018
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $84,374$1$2$(3)$84,374
Interest expense 16,786--(3)16,783
Provision for loan losses1,890---1,890
Noninterest income10,7072,0182,462(154)15,033
Noninterest expense39,3721,5641,611(154)42,393
Income before income taxes37,033455853-38,341
Income tax expense8,755127225-9,107
Net income$28,278$328$628$-$29,234
Assets$8,038,263$9,473$15,969$(29,140)$8,034,565

Three Months Ended September 30, 2017
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $49,590$-$2$(3)$49,589
Interest expense 6,895--(3)6,892
Provision for loan losses934---934
Non-interest income8,9151,9482,092(209)12,746
Non-interest expense28,6341,5591,207(209)31,191
Income before income taxes22,042389887-23,318
Income tax expense7,725158346-8,229
Net income$14,317$231$541$-$15,089
Assets$5,333,539$7,499$11,807$(18,057)$5,334,788

Nine Months Ended September 30, 2018
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $238,474$2$5$(6)$238,475
Interest expense 44,181--(6)44,175
Provision for loan losses5,620---5,620
Noninterest income35,1305,0197,331(461)47,019
Noninterest expense128,7054,2454,627(461)137,116
Income before income taxes95,0987762,709-98,583
Income tax expense22,357218710-23,285
Net income$72,741$558$1,999$-$75,298
Assets$8,038,263$9,473$15,969$(29,140)$8,034,565

Nine Months Ended September 30, 2017
CommunityInvestmentInter-Segment
(In thousands)BankingInsuranceMgmt.EliminationTotal
Interest income $144,123$1$6$(7)$144,123
Interest expense 18,854--(7)18,847
Provision for loan losses2,450---2,450
Non-interest income28,5454,9236,109(628)38,949
Non-interest expense 87,0354,2383,395(628)94,040
Income before income taxes64,3296862,720-67,735
Income tax expense21,4542791,060-22,793
Net income$42,875$407$1,660$-$44,942
Assets$5,333,539$7,499$11,807$(18,057)$5,334,788