| Information About Reportable Segments and Reconciliation |
Information about reportable segments and reconciliation of such information to the consolidated financial statements for the three and nine months ended September 30, 2017 and 2016 is as follows (dollars in thousands):
UNION BANKSHARES CORPORATION AND SUBSIDIARIES
SEGMENT FINANCIAL INFORMATION
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Community Bank |
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Mortgage |
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Eliminations |
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Consolidated |
Three Months Ended September 30, 2017 |
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Net interest income |
$ |
70,718 |
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|
$ |
480 |
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|
$ |
— |
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|
$ |
71,198 |
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Provision for credit losses |
3,056 |
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(6 |
) |
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— |
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|
3,050 |
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Net interest income after provision for credit losses |
67,662 |
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|
486 |
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|
— |
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|
68,148 |
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Noninterest income |
15,121 |
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|
2,527 |
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|
(112 |
) |
|
17,536 |
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Noninterest expenses |
55,133 |
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|
2,475 |
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|
(112 |
) |
|
57,496 |
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Income before income taxes |
27,650 |
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|
538 |
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|
— |
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|
28,188 |
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Income tax expense |
7,339 |
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|
191 |
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|
— |
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|
7,530 |
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Net income |
$ |
20,311 |
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|
$ |
347 |
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|
$ |
— |
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|
$ |
20,658 |
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Total assets |
$ |
9,020,486 |
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|
$ |
97,154 |
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|
$ |
(88,204 |
) |
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$ |
9,029,436 |
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Three Months Ended September 30, 2016 |
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Net interest income |
$ |
66,605 |
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|
$ |
423 |
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|
$ |
— |
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|
$ |
67,028 |
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Provision for credit losses |
2,455 |
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|
17 |
|
|
— |
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|
2,472 |
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Net interest income after provision for credit losses |
64,150 |
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|
406 |
|
|
— |
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|
64,556 |
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Noninterest income |
15,589 |
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|
3,501 |
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|
(140 |
) |
|
18,950 |
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Noninterest expenses |
54,353 |
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|
2,700 |
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(140 |
) |
|
56,913 |
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Income before income taxes |
25,386 |
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|
1,207 |
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— |
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|
26,593 |
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Income tax expense |
5,770 |
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|
422 |
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|
— |
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|
6,192 |
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Net income |
$ |
19,616 |
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|
$ |
785 |
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|
$ |
— |
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|
$ |
20,401 |
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Total assets |
$ |
8,251,351 |
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|
$ |
90,692 |
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|
$ |
(83,813 |
) |
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$ |
8,258,230 |
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Nine Months Ended September 30, 2017 |
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Net interest income |
$ |
205,534 |
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|
$ |
1,231 |
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$ |
— |
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$ |
206,765 |
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Provision for credit losses |
7,344 |
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1 |
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— |
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|
7,345 |
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Net interest income after provision for credit losses |
198,190 |
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|
1,230 |
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— |
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|
199,420 |
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Noninterest income |
47,080 |
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|
7,743 |
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(393 |
) |
|
54,430 |
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Noninterest expenses |
167,643 |
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|
7,571 |
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|
(393 |
) |
|
174,821 |
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Income before income taxes |
77,627 |
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|
1,402 |
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|
— |
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|
79,029 |
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Income tax expense |
20,791 |
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|
501 |
|
|
— |
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|
21,292 |
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Net income |
$ |
56,836 |
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|
$ |
901 |
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|
$ |
— |
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$ |
57,737 |
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Total assets |
$ |
9,020,486 |
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$ |
97,154 |
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$ |
(88,204 |
) |
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$ |
9,029,436 |
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Nine Months Ended September 30, 2016 |
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Net interest income |
$ |
195,508 |
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|
$ |
1,027 |
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|
$ |
— |
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|
$ |
196,535 |
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Provision for credit losses |
7,215 |
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|
161 |
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|
— |
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|
7,376 |
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Net interest income after provision for credit losses |
188,293 |
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|
866 |
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|
— |
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|
189,159 |
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Noninterest income |
44,137 |
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|
9,185 |
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|
(465 |
) |
|
52,857 |
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Noninterest expenses |
158,964 |
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|
7,937 |
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|
(465 |
) |
|
166,436 |
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Income before income taxes |
73,466 |
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|
2,114 |
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— |
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|
75,580 |
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Income tax expense |
18,145 |
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|
736 |
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— |
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|
18,881 |
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Net income |
$ |
55,321 |
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|
$ |
1,378 |
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$ |
— |
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|
$ |
56,699 |
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Total assets |
$ |
8,251,351 |
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$ |
90,692 |
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|
$ |
(83,813 |
) |
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$ |
8,258,230 |
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