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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME        
Interest and fees on loans $ 29,863 $ 32,019 $ 88,257 $ 102,481
Interest on investment securities:        
Taxable interest income 1,670 646 4,693 2,523
Tax-exempt interest income 455 470 1,375 1,411
Other, principally overnight investments 142 239 523 590
Total interest income 32,130 33,374 94,848 107,005
INTEREST EXPENSE        
Savings, checking and money market accounts 292 263 842 774
Time deposits of $100,000 or more 657 1,058 2,236 3,413
Other time deposits 308 408 977 1,283
Borrowings 487 302 1,099 849
Total interest expense 1,744 2,031 5,154 6,319
Net interest income 30,386 31,343 89,694 100,686
Provision for loan losses - non-covered 267 1,279 1,372 5,802
Provision (reversal) for loan losses - covered (1,681) 206 (2,109) 2,917
Total provision (reversal) for loan losses (1,414) 1,485 (737) 8,719
Net interest income after provision for loan losses 31,800 29,858 90,431 91,967
NONINTEREST INCOME        
Service charges on deposit accounts 2,951 3,426 8,724 10,445
Other service charges, commissions and fees 2,778 2,538 8,091 7,467
Fees from presold mortgage loans 481 807 2,020 2,204
Commissions from sales of insurance and financial products 691 685 1,917 1,985
Bank-owned life insurance income 382 311 1,136 956
Foreclosed property gains (losses) - non-covered (857) (757) (1,932) (1,464)
Foreclosed property gains (losses) - covered (82) 773 410 (2,517)
FDIC indemnification asset income (expense), net (2,865) $ (3,210) (7,085) (9,704)
Securities gains (losses) (1) (1) 786
Other gains (losses) 28 $ 35 (241) (282)
Total noninterest income 3,506 4,608 13,039 9,876
NONINTEREST EXPENSES        
Salaries 12,378 11,773 35,456 34,787
Employee benefits 2,221 2,550 6,702 7,147
Total personnel expense 14,599 14,323 42,158 41,934
Net occupancy expense 1,823 1,863 5,504 5,547
Equipment related expenses 900 953 2,805 2,905
Intangibles amortization 181 194 541 582
Other operating expenses 7,111 8,598 21,620 23,294
Total noninterest expenses 24,614 25,931 72,628 74,262
Income before income taxes 10,692 8,535 30,842 27,581
Income tax expense 3,687 2,956 10,605 9,680
Net income 7,005 5,579 20,237 17,901
Preferred stock dividends (137) (217) (566) (651)
Net income available to common shareholders $ 6,868 $ 5,362 $ 19,671 $ 17,250
Earnings per common share: Basic $ 0.35 $ 0.27 $ 1.00 $ 0.88
Earnings per common share: Diluted 0.34 0.27 0.97 0.85
Dividends declared per common share $ 0.08 $ 0.08 $ 0.24 $ 0.24
Weighted average common shares outstanding: Basic 19,781,789 19,705,514 19,760,807 19,697,426
Weighted average common shares outstanding: Diluted 20,512,959 20,437,739 20,491,973 20,431,836