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Segment Information (Tables)
6 Months Ended
Jun. 30, 2011
Segment Information  
Summary of Financial Information by Reportable Segment
Segment Information
(in thousands)
Three Months Ended June 30, 2011
Community Wealth Mortgage
Banking Management Banking Consolidated
Interest income $ 121,953 $ 3,304 $ 3,160 $ 128,417
Interest expense 18,019 465 572 19,056
Net interest income 103,934 2,839 2,588 109,361
Provision for non-covered loan and lease losses 15,459 - - 15,459
Provision for covered loan and lease losses 3,755 - - 3,755
Non-interest income 11,092 3,671 4,864 19,627
Non-interest expense 74,952 3,941 4,314 83,207
Income before income taxes 20,860 2,569 3,138 26,567
Provision for income taxes 6,381 1,146 1,255 8,782
Net income 14,479 1,423 1,883 17,785
Dividends and undistributed earnings allocated to participating securities 86 - - 86
Net earnings available to common shareholders $ 14,393 $ 1,423 $ 1,883 $ 17,699
Six Months Ended June 30, 2011
Community Wealth Mortgage
Banking Management Banking Consolidated
Interest income $ 241,010 $ 5,771 $ 6,528 $ 253,309
Interest expense 36,831 1,045 1,170 39,046
Net interest income 204,179 4,726 5,358 214,263
Provision for non-covered loan losses 30,489 - - 30,489
Provision for covered loan losses 11,023 - - 11,023
Non-interest income 23,768 7,267 10,177 41,212
Non-interest expense 150,711 8,043 8,654 167,408
Income before income taxes 35,724 3,950 6,881 46,555
Provision for income taxes 11,174 1,377 2,752 15,303
Net income 24,550 2,573 4,129 31,252
Dividends and undistributed earnings allocated to participating securities 148 - - 148
Net earnings available to common shareholders $ 24,402 $ 2,573 $ 4,129 $ 31,104
Three Months Ended June 30, 2010
Community Wealth Mortgage
Banking Management Banking Consolidated
Interest income $ 110,109 $ 2,427 $ 3,068 $ 115,604
Interest expense 22,360 307 637 23,304
Net interest income 87,749 2,120 2,431 92,300
Provision for non-covered loan and lease losses 29,767 - - 29,767
Provision for covered loan and lease losses - - - -
Non-interest income 11,771 3,540 3,252 18,563
Non-interest expense 67,332 4,087 3,414 74,833
Income (loss) before income taxes 2,421 1,573 2,269 6,263
Provision (benefit from) for income taxes 1,374 519 907 2,800
Net income (loss) 1,047 1,054 1,362 3,463
Preferred stock dividends - - - -
Dividends and undistributed earnings allocated to participating securities 16 - - 16
Net earnings (loss) available to common shareholders $ 1,031 $ 1,054 $ 1,362 $ 3,447
Six Months Ended June 30, 2010
Community Wealth Mortgage
Banking Management Banking Consolidated
Interest income $ 214,209 $ 4,821 $ 5,943 $ 224,973
Interest expense 43,687 602 1,332 45,621
Net interest income 170,522 4,219 4,611 179,352
Provision for non-covered loan losses 71,873 - - 71,873
Provision for covered loan losses - - - -
Non-interest income 35,218 6,631 6,761 48,610
Non-interest expense 130,362 7,863 6,479 144,704
Income (loss) before income taxes 3,505 2,987 4,893 11,385
(Benefit from) provision for income taxes (3,504 ) 955 1,957 (592 )
Net income (loss) 7,009 2,032 2,936 11,977
Preferred stock dividends 12,192 - - 12,192
Dividends and undistributed earnings allocated to participating securities 31 - - 31
Net (loss) earnings available to common shareholders $ (5,214 ) $ 2,032 $ 2,936 $ (246 )
June 30, 2011
Community Wealth Mortgage
Banking Management Banking Consolidated
Total assets $ 11,092,529 $ 48,885 $ 318,278 $ 11,459,692
Total loans and leases (covered and non-covered) $ 6,161,711 $ 34,514 $ 238,004 $ 6,434,229
Total deposits $ 8,859,870 $ 267,037 $ 19,505 $ 9,146,412
December 31, 2010
Community Wealth Mortgage
Banking Management Banking Consolidated
Total assets $ 11,314,681 $ 37,757 $ 316,272 $ 11,668,710
Total loans and leases (covered and non-covered) $ 6,198,532 $ 23,631 $ 222,722 $ 6,444,885
Total deposits $ 9,160,058 $ 262,148 $ 11,599 $ 9,433,805