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Condensed 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 held for investment $ 20,853 $ 20,094 $ 40,221 $ 40,549
Interest on securities - taxable 1,992 1,850 4,071 4,383
Interest on securities - nontaxable 1,265 1,291 2,461 2,824
Interest on deposits in banks 72 100 111 169
Total interest income 24,182 23,335 46,864 47,925
Interest expense        
Interest on deposits 2,360 3,273 4,765 7,153
Interest on short-term borrowings 589 632 1,184 1,272
Interest on long-term borrowings 1,749 1,676 3,454 3,471
Total interest expense 4,698 5,581 9,403 11,896
Net interest income 19,484 17,754 37,461 36,029
Provision for loan losses 1,620 3,079 2,542 4,691
Net interest income after provision for loan losses 17,864 14,675 34,919 31,338
Noninterest income        
Wealth management income 940 930 1,834 1,824
Service charges on deposit accounts 3,329 3,353 6,342 6,384
Other service charges and fees 1,564 1,461 3,149 2,867
Insurance commissions 1,336 1,561 2,912 3,504
Impairment losses on securities         (527)
Portion of losses recognized in other comprehensive income          
Net impairment losses recognized in earnings         (527)
Net gain on sale of securities (9) 3,224 42 5,060
Other operating income 1,183 834 2,055 1,750
Total noninterest income 8,343 11,363 16,334 20,862
Noninterest expense        
Salaries and employee benefits 8,892 8,685 17,114 17,814
Occupancy expense of bank premises 1,654 1,568 3,180 3,215
Furniture and equipment 975 909 1,786 1,824
Amortization of intangible assets 189 261 422 520
FDIC premiums and assessments 290 414 612 1,292
FHLB debt prepayment fees         (471)
Merger related expense 3,419   3,582  
Other operating expense 4,713 5,901 9,629 10,665
Total noninterest expense 20,132 17,738 36,325 35,801
Income before income taxes 6,075 8,300 14,928 16,399
Income tax expense 1,997 2,572 4,849 4,920
Net income 4,078 5,728 10,079 11,479
Dividends on preferred stock 283 131 566 131
Net income available to common shareholders $ 3,795 $ 5,597 $ 9,513 $ 11,348
Basic earnings per common share $ 0.20 $ 0.31 $ 0.52 $ 0.63
Diluted earnings per common share $ 0.20 $ 0.31 $ 0.52 $ 0.63
Cash dividends per common share $ 0.11 $ 0.10 $ 0.21 $ 0.20
Weighted average basic shares outstanding 18,561,714 17,895,904 18,205,545 17,882,006
Weighted average diluted shares outstanding 19,909,242 18,534,489 19,549,582 18,200,184