Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

25. QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following table presents summarized quarterly data for each of the years indicated.

		September 30,		September 30,			September 30,			September 30,		September 30,
	Unaudited
	First		Second			Third			Fourth
2011:	Quarter		Quarter			Quarter			Quarter		Total
	(Dollars in thousands, except per share data)
Interest income	$	25,732	$	24,863		$	23,321		$	22,471	$	96,387
Interest expense		8,078		7,805			7,696			7,633		31,212
Net interest income		17,654		17,058			15,625			14,838		65,175
Provision for loan losses		2,192		8,244			11,836			2,386		24,658
Net interest income after provision for loan losses		15,462		8,814			3,789			12,452		40,517
Non-interest income		3,988		5,300			1,916			12,021		23,225
Non-interest expenses		16,488		15,910			14,569			16,545		63,512
Income (loss) before taxes		2,962		(1,796	)		(8,864	)		7,928		230
Income tax expense (benefit)		—		—			—			—		—
Net income (loss)	$	2,962	$	(1,796	)	$	(8,864	)	$	7,928		230
Earnings (loss) per share:
Basic earnings (loss)	$	0.10	$	(0.06	)	$	(0.29	)	$	0.25	$	0.01
Diluted earnings (loss)		0.10		(0.06	)		(0.29	)		0.25		0.01

The increase in noninterest income in the fourth quarter was due primarily to gains recognized of the sale of four branches.

		September 30,			September 30,			September 30,			September 30,			September 30,
	Unaudited
	First			Second			Third			Fourth
2010:	Quarter			Quarter			Quarter			Quarter			Total
	(Dollars in thousands, except per share data)
Interest income	$	28,805		$	28,185		$	28,240		$	25,518		$	110,748
Interest expense		11,089			10,214			9,454			8,630			39,387
Net interest income		17,716			17,971			18,786			16,888			71,361
Provision for loan losses		12,450			10,310			17,116			22,551			62,427
Net interest income after provision for loan losses		5,266			7,661			1,670			(5,663	)		8,934
Non-interest income		6,560			4,745			4,115			6,473			21,893
Non-interest expenses		16,968			17,291			15,700			18,372			68,331
Loss before taxes		(5,142	)		(4,885	)		(9,915	)		(17,562	)		(37,504	)
Income tax benefit		—			—			—			(231	)		(231	)
Net income (loss)	$	(5,142	)	$	(4,885	)	$	(9,915	)	$	(17,331	)		(37,273	)
Earnings (loss) per share:
Basic earnings (loss)	$	(0.17	)	$	(0.16	)	$	(0.32	)	$	(0.56	)	$	(1.22	)
Diluted earnings (loss)		(0.17	)		(0.16	)		(0.32	)		(0.56	)		(1.22	)

The loss incurred for the year of 2010 was primarily due to an increased provision for loan losses as the Company continues its resolution of problem loans.