XML 35 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Income and Other Comprehensive 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, including loans held for sale $ 34,278 $ 36,182 $ 69,330 $ 72,868
Interest and dividends on securities        
Taxable 3,083 2,751 5,854 5,033
Tax exempt 513 412 990 808
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock 345 357 709 713
Other, including interest on federal funds sold 136 139 298 279
Total interest income 38,355 39,841 77,181 79,701
Interest expense:        
Interest on deposits 4,930 5,511 9,401 11,341
Interest on repurchase agreements and other short-term borrowings 321 426 659 854
Interest on advances from Federal Home Loan Bank 8 26 19 54
Interest on long-term debt 777 1,000 1,777 2,000
Total interest expense 6,036 6,963 11,856 14,249
Net interest income 32,319 32,878 65,325 65,452
Provision for loan losses 2,425 3,320 3,585 7,707
Net interest income after provision for loan losses 29,894 29,558 61,740 57,745
Noninterest income:        
Service charges on deposit accounts 5,955 6,438 11,827 12,318
Gains on sales of loans, net 705 347 1,322 728
Trust income 1,822 1,577 3,435 3,193
Loan related fees 610 476 1,897 1,359
Bank owned life insurance 430 426 858 836
Securities gains 819 0 819 0
Other noninterest income 1,648 1,329 3,018 2,897
Total noninterest income 11,989 10,593 23,176 21,331
Noninterest expense:        
Officer salaries and employee benefits 2,324 2,337 4,680 4,510
Other salaries and employee benefits 10,078 10,380 20,535 20,291
Occupancy, net 1,859 1,933 3,712 4,030
Equipment 995 905 1,913 1,773
Data processing 1,548 1,650 3,127 3,442
Bank franchise tax 1,127 1,119 2,282 2,283
Legal fees 496 570 1,097 1,500
Professional fees 385 279 645 685
FDIC insurance 613 839 1,270 1,963
Other real estate owned provision and expense 758 2,186 1,548 3,032
Other noninterest expense 3,965 4,948 9,089 10,184
Total noninterest expense 24,148 27,146 49,898 53,693
Income before income taxes 17,735 13,005 35,018 25,383
Income taxes 5,503 4,035 10,917 7,109
Net income 12,232 8,970 24,101 18,274
Unrealized holding gains on securities available-for-sale:        
Unrealized holding gains arising during the period 6,370 4,582 4,168 5,609
Less: Reclassification adjustments for realized gains included in net income (819) 0 (819) 0
Tax expense (benefit) 1,943 1,604 1,172 1,963
Other comprehensive income, net of tax 3,608 2,978 2,177 3,646
Comprehensive income $ 15,840 $ 11,948 $ 26,278 $ 21,920
Basic earnings per share (in dollars per share) $ 0.79 $ 0.59 $ 1.56 $ 1.19
Diluted earnings per share (in dollars per share) $ 0.79 $ 0.58 $ 1.56 $ 1.19
Weighted average shares outstanding-basic (in shares) 15,451 15,308 15,429 15,301
Weighted average shares outstanding-diluted (in shares) 15,501 15,332 15,475 15,328
Dividends declared per share (in dollars per share) $ 0.31 $ 0.305 $ 0.62 $ 0.61