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SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Operating Segments and Reconciliation of Information to Consolidated Financial Statements 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 June 30, 2020

 

 

Community

 

 

 

 

Investment

 

Inter-Segment

 

 

 

(In thousands)

 

Banking

 

Insurance

 

Management

 

Elimination

 

Total

Interest income

 

$

114,929

 

$

1

 

$

-

 

$

(3)

 

$

114,927

Interest expense

 

 

13,416

 

 

-

 

 

-

 

 

(3)

 

 

13,413

Provision for credit losses

 

 

58,686

 

 

-

 

 

-

 

 

-

 

 

58,686

Non-interest income

 

 

19,253

 

 

1,198

 

 

2,693

 

 

(220)

 

 

22,924

Non-interest expense

 

 

82,410

 

 

1,275

 

 

1,973

 

 

(220)

 

 

85,438

Income/ (loss) before income taxes

 

 

(20,330)

 

 

(76)

 

 

720

 

 

-

 

 

(19,686)

Income tax expense/ (benefit)

 

 

(5,517)

 

 

(21)

 

 

190

 

 

-

 

 

(5,348)

Net income/ (loss)

 

$

(14,813)

 

$

(55)

 

$

530

 

$

-

 

$

(14,338)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

13,281,483

 

$

10,537

 

$

55,319

 

$

(56,892)

 

$

13,290,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2019

 

 

Community

 

 

 

 

Investment

 

Inter-Segment

 

 

 

(In thousands)

 

Banking

 

Insurance

 

Management

 

Elimination

 

Total

Interest income

 

$

87,214

 

$

1

 

$

3

 

$

(4)

 

$

87,214

Interest expense

 

 

21,033

 

 

-

 

 

-

 

 

(4)

 

 

21,029

Provision for credit losses

 

 

1,633

 

 

-

 

 

-

 

 

-

 

 

1,633

Non-interest income

 

 

12,856

 

 

1,269

 

 

2,597

 

 

(166)

 

 

16,556

Non-interest expense

 

 

40,859

 

 

1,304

 

 

1,890

 

 

(166)

 

 

43,887

Income/ (loss) before income taxes

 

 

36,545

 

 

(34)

 

 

710

 

 

-

 

 

37,221

Income tax expense/ (benefit)

 

 

8,769

 

 

(8)

 

 

184

 

 

-

 

 

8,945

Net income/ (loss)

 

$

27,776

 

$

(26)

 

$

526

 

$

-

 

$

28,276

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

8,398,263

 

$

11,552

 

$

20,253

 

$

(31,549)

 

$

8,398,519

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2020

 

 

Community

 

 

 

 

Investment

 

Inter-Segment

 

 

 

(In thousands)

 

Banking

 

Insurance

 

Management

 

Elimination

 

Total

Interest income

 

$

198,786

 

$

4

 

$

2

 

$

(7)

 

$

198,785

Interest expense

 

 

32,944

 

 

-

 

 

-

 

 

(7)

 

 

32,937

Provision for credit losses

 

 

83,155

 

 

-

 

 

-

 

 

-

 

 

83,155

Non-interest income

 

 

33,230

 

 

3,327

 

 

4,959

 

 

(424)

 

 

41,092

Non-interest expense

 

 

127,065

 

 

2,739

 

 

3,804

 

 

(424)

 

 

133,184

Income/ (loss) before income taxes

 

 

(11,148)

 

 

592

 

 

1,157

 

 

-

 

 

(9,399)

Income tax expense/ (benefit)

 

 

(5,516)

 

 

164

 

 

304

 

 

-

 

 

(5,048)

Net income/ (loss)

 

$

(5,632)

 

$

428

 

$

853

 

$

-

 

$

(4,351)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

13,281,483

 

$

10,537

 

$

55,319

 

$

(56,892)

 

$

13,290,447

 

 

Six Months Ended June 30, 2019

 

 

Community

 

 

 

 

Investment

 

Inter-Segment

 

 

 

(In thousands)

 

Banking

 

Insurance

 

Management

 

Elimination

 

Total

Interest income

 

$

175,397

 

$

2

 

$

5

 

$

(7)

 

$

175,397

Interest expense

 

 

42,469

 

 

-

 

 

-

 

 

(7)

 

 

42,462

Provision for credit losses

 

 

1,505

 

 

-

 

 

-

 

 

-

 

 

1,505

Non-interest income

 

 

25,563

 

 

3,173

 

 

5,122

 

 

(333)

 

 

33,525

Non-interest expense

 

 

82,070

 

 

2,724

 

 

3,618

 

 

(333)

 

 

88,079

Income before income taxes

 

 

74,916

 

 

451

 

 

1,509

 

 

-

 

 

76,876

Income tax expense

 

 

17,762

 

 

127

 

 

394

 

 

-

 

 

18,283

Net income

 

$

57,154

 

$

324

 

$

1,115

 

$

-

 

$

58,593

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

8,398,263

 

$

11,552

 

$

20,253

 

$

(31,549)

 

$

8,398,519