v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income:      
Interest and fees on loans and leases $ 107,089 $ 138,114 $ 201,573
Interest and dividends on investment securities:      
Taxable interest 27,559 19,699 36,392
Tax-exempt interest 738 1,068 4,020
Dividends 12 11 10
Interest on deposits in other banks 1,052 1,862 233
Interest on Federal funds sold and securities purchased under agreements to resell 0 0 9
Total interest income 136,450 160,754 242,237
Interest on deposits:      
Demand 500 885 1,351
Savings and money market 2,044 5,514 11,928
Time 7,066 14,390 29,267
Interest on short-term borrowings 204 1,177 548
Interest on long-term debt 8,815 20,135 24,621
Total interest expense 18,629 42,101 67,715
Net interest income 117,821 118,653 174,522
Provision (credit) for loan and lease losses (40,690) 159,548 348,801
Net interest income (loss) after provision for loan and lease losses 158,511 (40,895) (174,279)
Other operating income:      
Other service charges and fees 17,239 15,418 14,187
Service charges on deposit accounts 10,024 11,831 15,458
Net gain on sales of residential loans 8,050 8,468 13,582
Income from bank-owned life insurance 4,139 4,809 5,249
Income from fiduciary activities 2,794 3,204 3,759
Investment securities gains (losses) 1,306 831 (74)
Fees on foreign exchange 664 659 584
Loan placement fees 541 391 982
Equity in earnings of unconsolidated subsidiaries 458 468 759
Gain on sale of premises and equipment 0 7,698 3,612
Other than temporary impairment on securities (net of $5,158 recognized in other comprehensive loss for 2009) 0 0 (2,565)
Other 4,966 3,259 1,880
Total other operating income 50,181 57,036 57,413
Other operating expense:      
Salaries and employee benefits 63,675 56,613 66,346
Net occupancy 13,793 13,650 13,415
Legal and professional services 13,506 17,840 13,989
Amortization of other intangible assets 7,033 7,061 6,123
Loss on early extinguishment of debt 6,234 5,685 0
Equipment 4,702 5,337 6,081
Write down of assets 4,624 1,460 4,963
Foreclosed asset expense 4,557 8,982 8,651
Computer software expense 3,629 3,625 3,428
Communication expense 3,517 3,985 4,317
Advertising expense 2,961 2,531 3,266
Goodwill impairment 0 102,689 50,000
Other 43,890 37,636 36,297
Total other operating expense 172,121 267,094 216,876
Income (loss) before income taxes 36,571 (250,953) (333,742)
Income tax benefit 0 0 (19,995)
Net income (loss) 36,571 (250,953) (313,747)
Preferred stock dividends, accretion of discount and conversion of preferred stock to common stock (83,897) 8,432 7,946
Net income (loss) available to common shareholders $ 120,468 $ (259,385) $ (321,693)
Per common share data:      
Basic earnings (loss) per share (in dollars per share) $ 3.36 $ (171.13) $ (220.56)
Diluted earnings (loss) per share (in dollars per share) $ 3.31 $ (171.13) $ (220.56)