XML 60 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
INTEREST INCOME        
Interest and fees on loans $ 35,636 $ 38,464 $ 70,678 $ 75,271
Interest on investment securities:        
Taxable interest income 1,149 1,463 2,407 2,895
Tax-exempt interest income 491 499 984 999
Other, principally overnight investments 178 103 317 193
Total interest income 37,454 40,529 74,386 79,358
INTEREST EXPENSE        
Savings, checking and money market 759 1,103 1,608 2,333
Time deposits of $100,000 or more 2,085 2,661 4,260 5,265
Other time deposits 1,169 1,767 2,438 3,936
Securities sold under agreements to repurchase    48 4 98
Borrowings 490 470 1,034 932
Total interest expense 4,503 6,049 9,344 12,564
Net interest income 32,951 34,480 65,042 66,794
Provision for loan losses - non-covered 5,194 7,607 23,751 15,177
Provision for loan losses - covered 1,273 3,327 4,271 7,100
Total provision for loan losses 6,467 10,934 28,022 22,277
Net interest income after provision for loan losses 26,484 23,546 37,020 44,517
NONINTEREST INCOME        
Service charges on deposit accounts 2,967 3,294 5,814 5,939
Other service charges, commissions and fees 2,340 2,070 4,532 3,985
Fees from presold mortgage loans 489 346 900 641
Commissions from sales of insurance and financial products 432 409 815 764
Gain from acquisition          10,196
Foreclosed property losses and write-downs - non-covered (1,318) (271) (2,006) (1,624)
Foreclosed property losses and write-downs - covered (6,554) (2,583) (11,101) (7,517)
FDIC indemnification asset income, net 3,558 1,826 7,663 6,866
Securities gains (3) 60 449 74
Other gains (141) (37) 53 (17)
Total noninterest income 1,770 5,114 7,119 19,307
NONINTEREST EXPENSES        
Salaries 10,173 9,694 20,347 19,405
Employee benefits 2,777 2,954 6,691 6,156
Total personnel expense 12,950 12,648 27,038 25,561
Net occupancy expense 1,615 1,598 3,296 3,270
Equipment related expenses 1,164 1,110 2,334 2,172
Intangibles amortization 223 226 446 450
Acquisition expenses    243    594
Other operating expenses 7,496 7,088 14,709 15,909
Total noninterest expenses 23,448 22,913 47,823 47,956
Income before income taxes 4,806 5,747 (3,684) 15,868
Income taxes 1,516 2,021 (1,792) 5,767
Net income 3,290 3,726 (1,892) 10,101
Preferred stock dividends (829) (812) (1,589) (1,625)
Accretion of preferred stock discount    (229)    (458)
Net income (loss) available to common shareholders $ 2,461 $ 2,685 $ (3,481) $ 8,018
Earnings (loss) per common share:        
Basic $ 0.15 $ 0.16 $ (0.21) $ 0.48
Diluted $ 0.15 $ 0.16 $ (0.21) $ 0.48
Dividends declared per common share $ 0.08 $ 0.08 $ 0.16 $ 0.16
Weighted average common shares outstanding:        
Basic 16,952,624 16,841,289 16,938,620 16,827,615
Diluted 16,952,624 16,868,571 16,938,620 16,855,027