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Consolidated Statements of Income (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 $ 74,574 $ 78,766 $ 149,254 $ 159,380
Investment securities:        
Taxable 29,208 32,348 59,463 69,681
Tax-exempt 2,386 1,783 4,514 3,416
Other interest income 1,676 183 1,751 425
Total interest income 107,844 113,080 214,982 232,902
Interest expense:        
Savings deposits 2,232 2,410 4,494 4,891
Time deposits 8,145 12,822 16,915 25,875
Securities sold under repurchase agreements 10,613 11,235 21,199 22,287
Other borrowings 445 129 1,095 440
Junior subordinated interest deferrable debentures 2,998 3,047 6,035 6,077
Total interest expense 24,433 29,643 49,738 59,570
Net interest income 83,411 83,437 165,244 173,332
(Credit) provision for probable loan losses (1,917) 1,429 2,163 8,658
Net interest income after (credit) provision for probable loan losses 85,328 82,008 163,081 164,674
Non-interest income:        
Service charges on deposit accounts 23,918 24,954 48,700 49,234
Other service charges, commissions and fees        
Banking 14,412 12,167 27,438 23,787
Non-banking 1,177 1,855 2,669 3,523
Gain on investment securities transactions, net 1,445 2,573 2,861 30,837
Other investments, net 4,220 4,116 9,576 7,473
Other income 2,692 3,735 4,986 6,144
Total non-interest income 47,864 49,400 96,230 120,998
Non-interest expense:        
Employee compensation and benefits 32,620 32,498 64,655 64,162
Occupancy 9,015 8,724 17,616 17,242
Depreciation of bank premises and equipment 7,931 8,969 16,258 17,981
Professional fees 3,689 3,781 7,575 7,763
Deposit insurance assessments 2,592 2,668 5,049 5,212
Net expense, other real estate owned 8,150 905 9,264 1,885
Amortization of identified intangible assets 1,323 1,324 2,626 2,625
Advertising 1,840 2,453 3,627 5,067
Litigation expense       21,803
Impairment charges (Total other-than-temporary impairment charges, $(254), net of $(420), $17, net of ($241), $1,055, net of $640, and $4,045, net of $(3,416) included in other comprehensive income) 166 258 415 7,461
Other 16,616 17,884 32,322 33,842
Total non-interest expense 83,942 79,464 159,407 185,043
Income before income taxes 49,250 51,944 99,904 100,629
Provision for income taxes 16,626 17,936 33,759 34,575
Net income 32,624 34,008 66,145 66,054
Preferred Stock Dividends 3,315 3,277 6,620 6,545
Net income available to common shareholders $ 29,309 $ 30,731 $ 59,525 $ 59,509
Basic earnings per common share:        
Weighted average number of shares outstanding: (in shares) 67,628,223 68,063,899 67,664,567 68,083,089
Net income (in dollars per share) $ 0.43 $ 0.45 $ 0.88 $ 0.87
Fully diluted earnings per common share:        
Weighted average number of shares outstanding: (in shares) 67,689,784 68,163,864 67,734,494 68,184,767
Net income (in dollars per share) $ 0.43 $ 0.45 $ 0.88 $ 0.87