XML 48 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Comprehensive Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 40,957 $ 44,511 $ 82,922 $ 88,859
Interest and dividends on securities:        
Taxable 8,471 9,431 17,061 18,139
Tax-exempt 3,079 3,046 6,158 6,032
Total interest and dividends on securities 11,550 12,477 23,219 24,171
Other interest income 38 54 85 109
Total interest and dividend income 52,545 57,042 106,226 113,139
INTEREST EXPENSE        
Interest bearing demand deposits 393 579 734 1,211
Money market deposits 493 1,130 1,299 2,572
Savings deposits 200 349 495 837
Certificates of deposit 6,621 7,929 13,600 15,980
Total interest expense on deposits 7,707 9,987 16,128 20,600
Federal Home Loan Bank borrowings 1,288 2,003 2,665 4,028
Other short-term borrowings 1,156 1,188 2,334 2,370
Junior subordinated debt owed to unconsolidated subsidiary trusts 854 811 1,728 1,612
Total interest expense 11,005 13,989 22,855 28,610
Net Interest Income 41,540 43,053 83,371 84,529
Provision for credit losses 5,903 6,802 12,105 14,843
Net interest income after provision for credit losses 35,637 36,251 71,266 69,686
NON-INTEREST INCOME        
Trust fees 4,258 4,272 9,011 9,034
Service charges on deposits 4,218 4,889 8,211 9,111
Electronic banking fees 2,920 2,523 5,683 4,807
Net securities brokerage revenue 1,114 1,088 2,189 2,184
Bank-owned life insurance 874 900 1,754 1,794
Net gains on sales of mortgage loans 599 389 867 971
Net securities gains 1,294 14 1,394 30
Net loss on other real estate owned and other assets (282) (271) (250) (816)
Other income 899 1,212 2,356 2,406
Total non-interest income 15,894 15,016 31,215 29,521
NON-INTEREST EXPENSE        
Salaries and wages 13,955 13,959 28,270 27,612
Employee benefits 4,920 4,249 10,538 9,405
Net occupancy 2,703 2,461 5,479 5,382
Equipment 2,144 2,145 4,318 4,444
Marketing 1,716 1,642 2,487 2,647
FDIC insurance 965 1,015 2,011 2,669
Amortization of intangible assets 524 605 1,061 1,223
Other operating expenses 9,157 9,627 17,585 17,812
Total non-interest expense 36,084 35,703 71,749 71,194
Income before provision for income taxes 15,447 15,564 30,732 28,013
Provision for income taxes 3,449 3,646 6,744 5,854
Net Income 11,998 11,918 23,988 22,159
EARNINGS PER COMMON SHARE        
Basic $ 0.45 $ 0.45 $ 0.90 $ 0.83
Diluted $ 0.45 $ 0.45 $ 0.90 $ 0.83
AVERAGE COMMON SHARES OUTSTANDING        
Basic 26,647,050 26,610,450 26,637,537 26,599,791
Diluted 26,650,325 26,611,409 26,640,879 26,601,088
DIVIDENDS DECLARED PER COMMON SHARE $ 0.17 $ 0.15 $ 0.34 $ 0.30
COMPREHENSIVE INCOME $ 11,481 $ 14,895 $ 24,047 $ 23,903