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Consolidated Statements of Income Statement (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest Income:    
Interest and fees on loans$ 12,147$ 14,262$ 37,214$ 43,656
Interest and dividends on taxable investment securities5,8717,68818,23723,392
Interest on tax-exempt investment securities3785901,1871,850
Other interest income4322057
Total interest income18,40022,57256,65868,955
Interest Expense:    
Interest on deposits3,3324,69310,99114,790
Interest on short-term borrowings246285209
Interest on long-term borrowings1,2852,0583,9126,630
Interest on junior subordinated notes held by subsidiary trust4954951,4801,485
Total interest expense5,1367,30816,46823,114
Net interest income13,26415,26440,19045,841
Provision for loan losses(865)(8,005)(8,471)(19,964)
Net interest income after provision for loan losses12,3997,25931,71925,877
Gross impairment losses on investment securities000(1,620)
Less: Non-credit losses included in other comprehensive income000166
Net impairment losses on investment securities000(1,786)
Other Income:    
Deposit account service charges2,6282,4157,2567,170
Insurance income2,3242,2167,3216,888
Trust and investment income1,3851,2264,1193,991
Electronic banking income1,3131,1803,8183,443
Mortgage banking income3703541,030856
Bank owned life insurance96137275495
Net gain on investment securities573,8184736,852
Net loss on assets389(4,638)(107)(5,969)
Other non-interest income275183837691
Total other income8,8376,89125,02224,417
Other Expenses:    
Salaries and employee benefit costs8,7017,23224,28122,105
Net occupancy and equipment1,4531,3834,4264,341
Professional fees8078472,6152,140
FDIC insurance4406171,5521,846
Electronic banking expense7136682,0161,830
Data processing and software4904611,4061,558
Foreclosed real estate and other loan expenses2512828251,400
Franchise tax3693731,1281,120
Amortization of other intangible assets141224455704
Other non-interest expense2,0651,8716,0635,798
Total other expenses15,43013,95844,76742,842
Income (loss) before income taxes5,80619211,9745,666
Income taxes (benefit) expense(1,885)2213,263653
Net income3,9214138,7115,013
Preferred dividends(237)(514)(998)(1,539)
Net (loss) income available to common shareholders3,684(101)7,7133,474
Earnings per common share - basic$ 0.35$ (0.01)$ 0.74$ 0.33
Earnings per common share - diluted$ 0.35$ (0.01)$ 0.73$ 0.33
Weighted-average number of common shares outstanding - basic10,484,60910,437,77010,478,31010,417,316
Weighted-average number of common shares outstanding - diluted10,519,67310,437,77010,498,70810,425,463
Cash dividends declared on common shares$ 1,060$ 1,053$ 2,118$ 3,158
Cash dividends declared per common share$ 0.1$ 0.1$ 0.2$ 0.3