| Summary of Quarterly Financial Information (Unaudited) |
Summary of Quarterly Financial Information (Unaudited) Quarterly financial information for the years ended December 31, 2011 and 2010 is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | First
Quarter | | Second
Quarter | | Third
Quarter | | Fourth
Quarter | | Year Ended
December 31, | | | (in thousands, except per share amounts) | 2011 | | | | | | | | | | | Total interest income | | $ | 54,611 |
| | $ | 53,309 |
| | $ | 68,432 |
| | $ | 74,919 |
| | $ | 251,271 |
| Total interest expense | | 4,162 |
| | 3,934 |
| | 3,644 |
| | 2,795 |
| | 14,535 |
| Net interest income | | 50,449 |
| | 49,375 |
| | 64,788 |
| | 72,124 |
| | 236,736 |
| Provision for loan and lease losses | | — |
| | 2,150 |
| | 500 |
| | 4,750 |
| | 7,400 |
| Provision (recapture) for losses on covered loans | | (422 | ) | | 2,301 |
| | 433 |
| | (3,960 | ) | | (1,648 | ) | Noninterest income (loss) | | (5,419 | ) | | 3,542 |
| | 2,196 |
| | (9,602 | ) | | (9,283 | ) | Noninterest expense | | 37,346 |
| | 37,164 |
| | 39,935 |
| | 41,314 |
| | 155,759 |
| Income before income taxes | | 8,106 |
| | 11,302 |
| | 26,116 |
| | 20,418 |
| | 65,942 |
| Provision for income taxes | | 2,327 |
| | 2,670 |
| | 7,244 |
| | 5,664 |
| | 17,905 |
| Net income | | $ | 5,779 |
| | $ | 8,632 |
| | $ | 18,872 |
| | $ | 14,754 |
| | $ | 48,037 |
| Net income applicable to common shareholders | | $ | 5,779 |
| | $ | 8,632 |
| | $ | 18,872 |
| | $ | 14,754 |
| | $ | 48,037 |
| Per common share (1) | | | | | | | | | | | Earnings (basic) | | $ | 0.15 |
| | $ | 0.22 |
| | $ | 0.48 |
| | $ | 0.37 |
| | $ | 1.22 |
| Earnings (diluted) | | $ | 0.15 |
| | $ | 0.22 |
| | $ | 0.48 |
| | $ | 0.37 |
| | $ | 1.21 |
| 2010 | | | | | | | | | | | Total interest income | | $ | 44,287 |
| | $ | 46,148 |
| | $ | 52,075 |
| | $ | 43,369 |
| | $ | 185,879 |
| Total interest expense | | 6,013 |
| | 5,416 |
| | 5,110 |
| | 4,553 |
| | 21,092 |
| Net interest income | | 38,274 |
| | 40,732 |
| | 46,965 |
| | 38,816 |
| | 164,787 |
| Provision for loan and lease losses | | 15,000 |
| | 13,500 |
| | 9,000 |
| | 3,791 |
| | 41,291 |
| Provision for losses on covered loans | | — |
| | — |
| | 453 |
| | 5,602 |
| | 6,055 |
| Noninterest income | | 18,473 |
| | 13,237 |
| | 5,183 |
| | 15,888 |
| | 52,781 |
| Noninterest expense | | 33,897 |
| | 34,745 |
| | 33,520 |
| | 34,985 |
| | 137,147 |
| Income before income taxes | | 7,850 |
| | 5,724 |
| | 9,175 |
| | 10,326 |
| | 33,075 |
| Provision (benefit) for income taxes | | (66 | ) | | 668 |
| | 3,971 |
| | (2,282 | ) | | 2,291 |
| Net income | | $ | 7,916 |
| | $ | 5,056 |
| | $ | 5,204 |
| | $ | 12,608 |
| | $ | 30,784 |
| Less: Dividends on preferred stock | | 1,107 |
| | 1,110 |
| | 2,730 |
| | — |
| | 4,947 |
| Net income applicable to common shareholders | | $ | 6,809 |
| | $ | 3,946 |
| | $ | 2,474 |
| | $ | 12,608 |
| | $ | 25,837 |
| Per common share (1) | | | | | | | | | | | Earnings (basic) | | $ | 0.24 |
| | $ | 0.11 |
| | $ | 0.06 |
| | $ | 0.32 |
| | $ | 0.73 |
| Earnings (diluted) | | $ | 0.24 |
| | $ | 0.11 |
| | $ | 0.06 |
| | $ | 0.32 |
| | $ | 0.72 |
|
__________ (1) Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year. |