Note 29 - Segment Information
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note
2
9
- Segment Information
 
FASB Codification
280
– “Segment Reporting” identifies operating segments as components of an enterprise which are evaluated regularly by the Corporation’s Chief Operating Decision Maker, our Chief Executive Officer, in deciding how to allocate resources and assess performance. The Corporation has applied the aggregation criterion set forth in this codification to the results of its operations.
 
The Corporation’s Banking segment consists of commercial and retail banking. The Banking segment is evaluated as a single strategic unit which generates revenues from a variety of products and services. The Banking segment generates interest income from its lending (including leases) and investing activities and is dependent on the gathering of lower cost deposits from its branch network or borrowed funds from other sources for funding its loans, resulting in the generation of net interest income. The Banking segment also derives revenues from other sources including gains on the sale in available for sale investment securities, gains on the sale of residential mortgage loans, service charges on deposit accounts, cash sweep fees, overdraft fees, BOLI income and interchange revenue associated with its Visa Check Card offering.
 
The Wealth Management segment has responsibility for a number of activities within the Corporation, including trust administration, other related fiduciary services, custody, investment management and advisory services, employee benefits and IRA administration, estate settlement, tax services and brokerage. Bryn Mawr Trust of Delaware and Lau Associates are included in the Wealth Management segment of the Corporation since they have similar economic characteristics, products and services to those of the Wealth Management Division of the Corporation. In addition, with the
October
1,
2014
acquisition of PCPB and the
April
1,
2015
acquisition of RJM, which was merged into PCPB, the Wealth Management Division assumed responsibility for all insurance services of the Corporation. Prior to the PCPB and RJM acquisitions, the Bank’s previous insurance subsidiary, ICBM, was reported through the Banking segment. Any adjustments to prior year figures are immaterial and are not reflected in the table below.
 
The accounting policies of the Corporation are applied by segment in the following tables. The segments are presented on a pre-tax basis.
 
The following table details the Corporation’s segments:
 
 
 
As of or for the Twelve Months Ended December 31,
 
 
 
2016
 
 
2015
 
 
2014
 
(dollars in thousands)
 
Banking
 
 
Wealth Management
 
 
Consolidated
 
 
Banking
 
 
Wealth Management
 
 
Consolidated
 
 
Banking
 
 
Wealth Management
 
 
Consolidated
 
                                                                         
Net interest income
   $
106,233
     $
3
     $
106,236
     $
100,124
     $
3
     $
100,127
     $
76,825
     $
3
     $
76,828
  
Less: loan loss provision
    
4,326
      
—
      
4,326
 
    
4,396
      
—
      
4,396
      
884
      
—
      
884
  
Net interest income after loan loss provision
    
101,907
      
3
      
101,910
      
95,728
      
3
      
95,731
      
75,941
      
3
      
75,944
  
Other income:
                                                                        
Fees for wealth management services
    
—
      
36,690
      
36,690
      
—
      
36,894
      
36,894
      
—
      
36,774
      
36,774
  
Service charges on deposit accounts
    
2,791
      
—
      
2,791
      
2,927
      
—
      
2,927
      
2,578
      
—
      
2,578
  
Loan servicing and other fees
    
1,939
      
—
      
1,939
      
2,087
      
—
      
2,087
      
1,755
      
—
      
1,755
  
Net gain on sale of loans
    
3,119
      
—
      
3,119
      
3,022
      
—
      
3,022
      
1,772
      
—
      
1,772
  
Net gain (loss) on sale of available for sale securities
    
(77
)
    
—
      
(77
)
    
931
      
—
      
931
      
471
      
—
      
471
)
Net gain (loss) on sale of other real estate owned
    
(76
)
    
—
      
(76
)
    
123
      
—
      
123
      
175
      
—
      
175
)
Insurance commissions
    
—
      
3,722
      
3,722
      
—
      
3,745
      
3,745
      
—
      
1,210
      
1,210
  
Other operating income
    
5,773
      
158
      
5,931
      
6,082
      
149
      
6,231
      
3,419
      
168
      
3,587
  
Total other income
    
13,469
      
40,570
      
54,039
      
15,172
      
40,788
      
55,960
      
10,170
      
38,152
      
48,322
  
                                                                         
Other expenses:
                                                                        
Salaries & wages
    
32,321
      
15,090
      
47,411
      
30,391
      
14,184
      
44,575
      
24,612
      
12,501
      
37,113
  
Employee benefits
    
6,257
      
3,291
      
9,548
      
7,298
      
2,907
      
10,205
      
4,306
      
3,034
      
7,340
  
Loss on pension plan settlement
    
—
      
—
      
—
      
17,377
      
—
      
17,377
      
—
      
—
      
—
  
Occupancy and bank premises
    
8,005
      
1,606
      
9,611
      
8,662
      
1,643
      
10,305
      
5,753
      
1,552
      
7,305
  
Amortization of other intangible assets
    
872
      
2,626
      
3,498
      
1,172
      
2,655
      
3,827
      
276
      
2,383
      
2,659
  
Professional fees
    
3,516
      
143
      
3,659
      
3,227
      
126
      
3,353
      
2,923
      
94
      
3,017
  
Other operating expenses
    
24,183
      
3,835
      
28,018
      
32,150
      
3,973
      
36,123
      
20,457
      
3,527
      
23,984
  
Total other expenses
    
75,154
      
26,591
      
101,745
      
100,277
      
25,488
      
125,765
      
58,327
      
23,091
      
81,418
  
Segment profit
   
40,222
      
13,982
      
54,204
      
10,623
      
15,303
      
25,926
      
27,784
      
15,064
      
42,848
  
Intersegment (revenues) expenses*
    
(396
)
    
396
      
—
      
(422
)
    
422
      
—
      
(372
)
    
372
      
—
  
Pre-tax segment profit after eliminations
   $
39,826
     $
14,378
     $
54,204
     $
10,201
     $
15,725
     $
25,926
     $
27,412
     $
15,436
     $
42,848
  
% of segment pre-tax profit after eliminations
    
73.5
 %    
26.5
 %    
100.0
 %    
39.3
 %    
60.7
 %    
100.0
 %    
64.0
 %    
36.0
 %    
100.0
 %
Segment assets
(dollars in millions)
   $
3,377.1
     $
44.4
     $
3,421.5
     $
2,983.2
     $
47.8
     $
3,031.0
     $
2,197.8
     $
48.7
     $
2,246.5
  
 
 
●
Intersegment revenues consist of rental payments, deposit interest and management fees.
 
Other segment information:
 
Wealth Management Segment Information
 
 
(dollars in millions)
 
 
December 31,
2016
 
 
December 31,
2015
 
Assets under management, administration, supervision and brokerage
   $
11,328.5
     $
8,364.8