XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Income Statements (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Loans, including fees $ 81,093 $ 68,342 $ 155,818 $ 136,102
Investment securities-taxable 3,616 5,815 7,448 12,227
Investment securities-non-taxable 3,227 2,528 6,356 4,768
Dividends-taxable 294 314 653 594
Dividends-non-taxable 685 732 1,523 1,385
Other 370 115 595 207
Total interest income 89,285 77,846 172,393 155,283
Interest expense:        
Deposits 3,929 4,168 7,661 8,930
Customer repurchase agreements 22 58 57 122
Other borrowings 2,727 2,328 5,399 4,398
Junior subordinated debt 455 487 921 971
Total interest expense 7,133 7,041 14,038 14,421
Net interest income 82,152 70,805 158,355 140,862
Provision for credit losses 3,481 13,330 8,920 26,411
Net interest income after provision for credit losses 78,671 57,475 149,435 114,451
Non-interest income:        
Service charges and fees 2,449 2,317 4,983 4,602
Income from bank owned life insurance 1,036 1,120 2,072 2,243
Amortization of affordable housing investments (900) (59) (1,800) (59)
(Loss) Gain on sales of securities, net (5) 1,110 143 1,471
Mark to market (losses) gains, net (3,290) 564 (3,761) 232
Other fee revenue   870   1,870
Bargain purchase gain from acquisition 10,044   10,044  
Other 1,528 1,475 3,080 2,922
Total non-interest income 10,862 7,397 14,761 13,281
Non-interest expense:        
Salaries and employee benefits 28,100 25,995 54,675 52,659
Occupancy expense, net 4,753 4,669 9,599 9,391
Legal, professional and directors' fees 2,228 2,517 5,012 4,089
Data processing 2,175 1,293 4,040 2,288
Insurance 2,096 2,152 4,466 4,202
Marketing 1,607 1,459 3,372 2,830
Loan and repossessed asset expenses 721 1,653 2,317 3,337
Customer service 717 682 1,360 1,274
Net (gain) loss on sales/valuations of repossessed assets and bank premises, net (1,124) 901 (605) 3,552
Intangible amortization 597 890 1,194 1,779
Merger/ restructure expenses 2,620   2,815  
Other 4,041 3,220 7,215 6,927
Total non-interest expense 48,531 45,431 95,460 92,328
Income from continuing operations before provision for income taxes 41,002 19,441 68,736 35,404
Income tax expense 6,817 5,259 13,625 9,700
Income from continuing operations 34,185 14,182 55,111 25,704
Loss from discontinued operations, net of tax benefit (169) (221) (131) (443)
Net income 34,016 13,961 54,980 25,261
Dividends on preferred stock 353 1,325 705 3,088
Net income available to common shareholders $ 33,663 $ 12,636 $ 54,275 $ 22,173
Earnings per share from continuing operations:        
Basic $ 0.39 $ 0.16 $ 0.64 $ 0.28
Diluted $ 0.39 $ 0.16 $ 0.63 $ 0.28
Loss per share from discontinued operations:        
Basic $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Diluted $ 0.00 $ 0.00 $ 0.00 $ (0.01)
Earnings per share applicable to common shareholders:        
Basic $ 0.39 $ 0.15 $ 0.63 $ 0.27
Diluted $ 0.39 $ 0.15 $ 0.63 $ 0.27
Weighted average number of common shares outstanding:        
Basic 85,659 81,590 85,493 81,475
Diluted 86,524 81,955 86,254 82,091
Dividends declared per common share