SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

12 Months Ended

Dec. 31, 2011

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

NOTE 21—SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

        The following table sets forth our unaudited, quarterly results for the periods indicated. For all such periods, we reclassified recoveries on covered loans such that recoveries now reduce the credit loss provision for covered loans rather than increase FDIC loss sharing income. Such reclassifications had no effect on reported net earnings or losses.

	Three Months Ended
	December 31, 2011			September 30, 2011			June 30, 2011			March 31, 2011
	(Dollars in thousands, except per share data)
Interest income	$	70,913		$	72,518		$	77,196		$	74,657
Interest expense		(7,140	)		(8,077	)		(8,507	)		(8,919	)
Net interest income		63,773			64,441			68,689			65,738
Provision for credit losses:
Non-covered loans		—			—			(5,500	)		(7,800	)
Covered loans		(4,122	)		(348	)		(5,890	)		(2,910	)
Total provision for credit losses		(4,122	)		(348	)		(11,390	)		(10,710	)
Net interest income after provision for credit losses		59,651			64,093			57,299			55,028
FDIC loss sharing income (expense), net		2,667			963			5,316			(1,170	)
Other noninterest income		5,587			6,180			5,924			5,959
Non-covered OREO expense, net		(1,714	)		(2,293	)		(2,300	)		(703	)
Covered OREO expense, net		(226	)		(4,813	)		(1,205	)		2,578
Other noninterest expense		(41,529	)		(41,481	)		(43,033	)		(43,274	)
Income tax expense		(10,553	)		(9,345	)		(9,160	)		(7,742	)
Net earnings	$	13,883		$	13,304		$	12,841		$	10,676
Earnings per share:
Basic	$	0.38		$	0.36		$	0.35		$	0.29
Diluted	$	0.38		$	0.36		$	0.35		$	0.29

	Three Months Ended
	December 31, 2010			September 30, 2010			June 30, 2010			March 31, 2010
	(Dollars in thousands, except per share data)
Interest income	$	77,898		$	75,130		$	68,261		$	68,995
Interest expense		(9,378	)		(9,963	)		(10,644	)		(10,972	)
Net interest income		68,520			65,167			57,617			58,023
Provision for credit losses:
Non-covered loans		(35,315	)		(17,050	)		(14,100	)		(112,527	)
Covered loans		1,100			(6,500	)		(7,825	)		(20,275	)
Total provision for credit losses		(34,215	)		(23,550	)		(21,925	)		(132,802	)
Net interest income (expense) after provision for credit losses		34,305			41,617			35,692			(74,779	)
FDIC loss sharing income (expense), net		(4,473	)		5,506			6,004			15,747
Other noninterest income		5,925			4,379			5,053			5,097
Non-covered OREO expense, net		(1,093	)		(2,151	)		(625	)		(8,441	)
Covered OREO expense, net		(699	)		319			89			(2,169	)
Other noninterest expense		(47,494	)		(44,342	)		(42,237	)		(39,960	)
Income tax benefit (expense)		5,841			(1,828	)		(1,271	)		43,972
Net earnings (loss)	$	(7,688	)	$	3,500		$	2,705		$	(60,533	)
Earnings (loss) per share:
Basic	$	(0.22	)	$	0.10		$	0.07		$	(1.76	)
Diluted	$	(0.22	)	$	0.10		$	0.07		$	(1.76	)