XML 68 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest income        
Interest and fees on loans held for investment $ 28,275 $ 20,084 $ 68,496 $ 60,633
Interest on securities -- taxable 1,980 1,711 6,060 6,094
Interest on securities -- nontaxable 1,215 1,180 3,667 4,004
Interest on deposits in banks 66 75 177 244
Total interest income 31,536 23,050 78,400 70,975
Interest expense        
Interest on deposits 2,603 2,998 7,368 10,151
Interest on short-term borrowings 675 577 1,859 1,849
Interest on long-term borrowings 1,799 1,741 5,253 5,212
Total interest expense 5,077 5,316 14,480 17,212
Net interest income 26,459 17,734 63,920 53,763
Provision for loan losses 1,916 1,920 4,458 6,611
Net interest income after provision for loan losses 24,543 15,814 59,462 47,152
Noninterest income        
Wealth management income 1,005 868 2,839 2,692
Service charges on deposit accounts 3,895 3,404 10,237 9,788
Other service charges and fees 1,631 1,426 4,780 4,293
Insurance commissions 1,616 1,523 4,528 5,027
Impairment losses on securities (942) (210) (942) (737)
Portion of losses recognized in other comprehensive income            
Net impairment losses recognized in earnings (942) (210) (942) (737)
Net gain on sale of securities 228 178 270 5,238
Other operating income 3,730 877 5,785 2,627
Total noninterest income 11,163 8,066 27,497 28,928
Noninterest expense        
Salaries and employee benefits 10,860 8,409 27,974 26,223
Occupancy expense of bank premises 1,754 1,476 4,934 4,691
Furniture and equipment 955 862 2,741 2,686
Amortization of intangible assets 191 250 613 770
FDIC premiums and assessments 611 348 1,223 1,640
FHLB debt prepayment fees         471
Merger related expense 645    4,227   
Other operating expense 5,309 4,715 14,938 15,380
Total noninterest expense 20,325 16,060 56,650 51,861
Income before income taxes 15,381 7,820 30,309 24,219
Income tax expense 5,322 2,502 10,171 7,422
Net income 10,059 5,318 20,138 16,797
Dividends on preferred stock 220 286 786 417
Net income available to common shareholders $ 9,839 $ 5,032 $ 19,352 $ 16,380
Basic earnings per common share $ 0.49 $ 0.28 $ 1.03 $ 0.92
Diluted earnings per common share $ 0.47 $ 0.28 $ 1.00 $ 0.91
Cash dividends per common share $ 0.11 $ 0.10 $ 0.32 $ 0.30
Weighted average basic shares outstanding 20,013,264 17,896,534 18,812,516 17,886,902
Weighted average diluted shares outstanding 21,476,497 19,205,634 20,159,386 18,533,364