| Information About Reportable Segments and Reconciliation |
Information about reportable segments and reconciliation of such information to the consolidated financial statements for the three and six months ended June 30, 2014 and 2013 is as follows (dollars in thousands):
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UNION BANKSHARES CORPORATION AND SUBSIDIARIES
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SEGMENT FINANCIAL INFORMATION
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(Dollars in thousands)
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Community Bank
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Mortgage
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Eliminations
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Consolidated
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Three Months Ended June 30, 2014
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Net interest income
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$
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63,401
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$
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314
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$
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-
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$
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63,715
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Provision for loan losses
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1,500
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-
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-
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1,500
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Net interest income after provision for loan losses
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61,901
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314
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-
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62,215
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Noninterest income
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13,846
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3,028
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(170)
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16,704
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Noninterest expenses
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55,349
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4,296
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(170)
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59,475
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Income (loss) before income taxes
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20,398
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(954)
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-
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19,444
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Income tax expense (benefit)
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5,016
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(352)
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-
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4,664
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Net income (loss)
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$
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15,382
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$
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(602)
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$
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-
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$
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14,780
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Total assets
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$
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7,305,078
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$
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77,299
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$
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(75,297)
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$
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7,307,080
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Three Months Ended June 30, 2013
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Net interest income
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$
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36,960
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$
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443
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$
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-
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$
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37,403
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Provision for loan losses
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1,000
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-
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-
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1,000
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Net interest income after provision for loan losses
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35,960
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443
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-
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36,403
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Noninterest income
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6,798
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4,668
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(167)
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11,299
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Noninterest expenses
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29,793
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4,657
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(167)
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34,283
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Income before income taxes
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12,965
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454
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-
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13,419
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Income tax expense
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3,796
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160
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-
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3,956
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Net income
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$
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9,169
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$
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294
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$
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-
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$
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9,463
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Total assets
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$
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4,045,163
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$
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121,392
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$
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(109,998)
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$
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4,056,557
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Six Months Ended June 30, 2014
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Net interest income
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$
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126,927
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$
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546
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$
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-
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$
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127,473
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Provision for loan losses
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1,500
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-
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-
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1,500
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Net interest income after provision for loan losses
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125,427
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546
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-
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125,973
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Noninterest income
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25,917
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5,328
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(341)
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30,904
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Noninterest expenses
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118,591
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9,006
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(341)
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127,256
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Income (loss) before income taxes
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32,753
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(3,132)
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-
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29,621
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Income tax expense (benefit)
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8,176
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(1,150)
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-
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7,026
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Net income (loss)
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$
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24,577
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$
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(1,982)
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$
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-
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$
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22,595
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Total assets
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$
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7,305,078
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$
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77,299
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$
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(75,297)
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$
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7,307,080
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Six Months Ended June 30, 2013
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Net interest income
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$
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74,147
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$
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1,010
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$
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-
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$
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75,157
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Provision for loan losses
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3,050
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-
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-
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3,050
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Net interest income after provision for loan losses
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71,097
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1,010
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-
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72,107
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Noninterest income
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12,945
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8,522
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(334)
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21,133
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Noninterest expenses
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59,338
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8,779
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(334)
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67,783
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Income before income taxes
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24,704
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753
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-
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25,457
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Income tax expense
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6,731
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280
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-
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7,011
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Net income
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$
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17,973
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$
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473
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$
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-
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$
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18,446
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Total assets
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$
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4,045,163
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$
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121,392
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$
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(109,998)
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$
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4,056,557
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