Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING DISCLOSURES (Tables)

v3.8.0.1
SEGMENT REPORTING DISCLOSURES (Tables)
 12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Information About Reportable Segments and Reconciliation
Information about reportable segments and reconciliation of such information to the consolidated financial statements for years ended December 31, 2017, 2016, and 2015 is as follows (dollars in thousands):
 
UNION BANKSHARES CORPORATION AND SUBSIDIARIES
SEGMENT FINANCIAL INFORMATION
 
 
Community Bank
 
Mortgage
 
Eliminations
 
Consolidated
Year Ended December 31, 2017
 

 
 

 
 

 
 

Net interest income
$
278,470

 
$
1,687

 
$
—

 
$
280,157

Provision for credit losses
10,802

 
(46
)
 
—

 
10,756

Net interest income after provision for credit losses
267,668

 
1,733

 
—

 
269,401

Noninterest income
62,120

 
10,073

 
(519
)
 
71,674

Noninterest expenses
225,366

 
9,918

 
(519
)
 
234,765

Income before income taxes
104,422

 
1,888

 
—

 
106,310

Income tax expense
32,600

 
787

 
—

 
33,387

Net income
$
71,822

 
$
1,101

 
$
—

 
$
72,923

Total assets
$
9,305,660

 
$
111,845

 
$
(102,326
)
 
$
9,315,179

Year Ended December 31, 2016
 

 
 

 
 

 
 

Net interest income
$
263,714

 
$
1,436

 
$
—

 
$
265,150

Provision for credit losses
8,883

 
217

 
—

 
9,100

Net interest income after provision for credit losses
254,831

 
1,219

 
—

 
256,050

Noninterest income
59,505

 
12,008

 
(606
)
 
70,907

Noninterest expenses
212,774

 
10,535

 
(606
)
 
222,703

Income before income taxes
101,562

 
2,692

 
—

 
104,254

Income tax expense
25,846

 
932

 
—

 
26,778

Net income
$
75,716

 
$
1,760

 
$
—

 
$
77,476

Total assets
$
8,419,625

 
$
93,581

 
$
(86,413
)
 
$
8,426,793

Year Ended December 31, 2015
 

 
 

 
 

 
 

Net interest income
$
250,510

 
$
1,324

 
$
—

 
$
251,834

Provision for credit losses
9,450

 
121

 
—

 
9,571

Net interest income after provision for credit losses
241,060

 
1,203

 
—

 
242,263

Noninterest income
55,645

 
10,044

 
(682
)
 
65,007

Noninterest expenses
205,993

 
11,571

 
(682
)
 
216,882

Income (loss) before income taxes
90,712

 
(324
)
 
—

 
90,388

Income tax expense (benefit)
23,431

 
(122
)
 
—

 
23,309

Net income (loss)
$
67,281

 
$
(202
)
 
$
—

 
$
67,079

Total assets
$
7,690,132

 
$
57,900

 
$
(54,741
)
 
$
7,693,291