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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Loans, including fees $ 38,905,155 $ 40,323,693 $ 77,258,636 $ 81,398,800
Securities:        
Taxable 6,479,280 8,058,265 12,840,179 17,145,853
Tax-exempt 1,837,811 1,985,946 3,773,699 4,036,199
Federal funds sold 566,874 560,611 1,140,880 1,037,753
Total interest income 47,789,120 50,928,515 95,013,394 103,618,605
Interest expense:        
Deposits 8,306,751 12,925,139 17,730,992 26,388,954
Securities sold under agreements to repurchase 345,444 364,648 727,013 916,961
Federal Home Loan Bank advances and other borrowings 1,341,546 1,941,437 2,739,377 4,055,492
Total interest expense 9,993,741 15,231,224 21,197,382 31,361,407
Net interest income 37,795,379 35,697,291 73,816,012 72,257,198
Provision for loan losses 6,587,189 30,508,685 12,726,327 43,734,605
Net interest income after provision for loan losses 31,208,190 5,188,606 61,089,685 28,522,593
Noninterest income:        
Service charges on deposit accounts 2,330,206 2,429,200 4,591,663 4,794,511
Investment services 1,637,426 1,315,263 3,145,512 2,551,646
Insurance sales commissions 1,004,246 904,359 2,053,478 2,003,378
Gain on loans sold, net 789,258 908,611 1,398,635 1,423,809
Net gain on sale of investment securities 610,302 2,259,124 451,199 2,623,674
Trust fees 769,935 754,515 1,499,923 1,651,088
Other noninterest income 2,668,041 1,998,082 4,993,061 4,006,694
Total noninterest income 9,809,414 10,569,154 18,133,471 19,054,800
Noninterest expense:        
Salaries and employee benefits 18,523,531 15,847,121 36,447,153 32,851,647
Equipment and occupancy 5,060,014 5,492,406 10,066,724 10,858,593
Other real estate expense 3,825,608 7,411,206 8,159,726 12,813,359
Marketing and other business development 766,422 793,696 1,520,173 1,547,614
Postage and supplies 545,097 700,505 1,034,974 1,434,044
Amortization of intangibles 715,905 746,001 1,431,809 1,492,002
Other noninterest expense 4,920,766 5,500,424 10,397,612 11,660,655
Total noninterest expense 34,357,343 36,491,359 69,058,171 72,657,914
Income (loss) before income taxes 6,660,261 (20,733,599) 10,164,985 (25,080,521)
Income tax expense (benefit) 288,414 5,630,431 288,414 5,106,734
Net income (loss) 6,371,847 (26,364,030) 9,876,571 (30,187,255)
Preferred stock dividends 1,200,694 1,200,694 2,388,194 2,388,194
Accretion on preferred stock discount 327,657 306,466 633,631 664,459
Net income (loss) available to common stockholders $ 4,843,496 $ (27,871,190) $ 6,854,746 $ (33,239,908)
Per share information:        
Basic net income (loss) per common share available to common stockholders $ 0.14 $ (0.85) $ 0.21 $ (1.02)
Diluted net income (loss) per common share available to common stockholders $ 0.14 $ (0.85) $ 0.20 $ (1.02)
Weighted average shares outstanding:        
Basic 33,454,229 32,675,221 33,410,385 32,616,943
Diluted 34,095,636 32,675,221 34,054,746 32,616,943