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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 $ 71,929 $ 74,944 $ 145,945 $ 154,282
Investment securities        
Taxable 7,080 5,444 13,883 10,840
Tax-exempt 192 245 390 480
Total investment securities interest 7,272 5,689 14,273 11,320
Other earning assets (1,384) 5,305 (2,338) 10,895
Total interest income 77,817 85,938 157,880 176,497
Interest expense        
Deposits 10,767 15,308 22,167 30,956
Short-term borrowings 49 17 94 36
Long-term borrowings 937 2,556 2,026 5,113
Subordinated debentures and capital securities 197 319 391 634
Total interest expense 11,950 18,200 24,678 36,739
Net interest income 65,867 67,738 133,202 139,758
Provision for loan and lease losses - uncovered 5,756 6,158 6,403 17,536
Provision for loan and lease losses - covered 23,895 18,962 49,911 28,422
Net interest income after provision for loan losses 36,216 42,618 76,888 93,800
Noninterest income        
Service charges on deposit accounts 4,883 5,855 9,493 11,466
Trust and wealth management fees 3,507 3,668 7,432 7,213
Bankcard income 2,328 2,102 4,483 4,070
Net gains from sales of loans 854 473 1,843 642
FDIC loss sharing income 21,643 15,170 45,078 22,738
Accelerated discount on covered loans 4,756 7,408 10,539 13,506
Loss on preferred securities 0 0 0 (30)
Other 3,147 5,791 5,908 7,797
Total noninterest income 41,118 40,467 84,776 67,402
Noninterest expenses        
Salaries and employee benefits 25,123 29,513 52,693 59,754
Net occupancy 4,493 5,340 11,353 13,462
Furniture and equipment 2,581 2,514 5,134 4,787
Data processing 1,453 1,136 2,691 2,368
Marketing 1,402 1,600 2,643 2,674
Communication 753 822 1,567 2,030
Professional services 3,095 2,446 5,322 4,189
State intangible tax 1,236 1,426 2,601 2,757
FDIC expense 1,152 1,907 3,273 3,917
Loss-Other real estate owned 163 138 3,485 608
Loss-Covered other real estate owned 2,621 70 5,733 70
Other 8,425 8,907 13,792 19,464
Total noninterest expenses 52,497 55,819 110,287 116,080
Income before income taxes 24,837 27,266 51,377 45,122
Income tax expense 8,864 9,492 18,197 15,750
Net income 15,973 17,774 33,180 29,372
Dividends on preferred stock 0 0 0 1,865
Net income available to common shareholders $ 15,973 $ 17,774 $ 33,180 $ 27,507
Net earnings per common share - basic: $ 0.28 $ 0.31 $ 0.58 $ 0.49
Net earnings per common share - diluted: $ 0.27 $ 0.30 $ 0.57 $ 0.48
Cash dividends declared per share $ 0.12 $ 0.10 $ 0.24 $ 0.20
Average basic shares outstanding 57,694,792 57,539,901 57,642,970 56,356,877
Average diluted shares outstanding 58,734,662 58,604,039 58,722,448 57,365,322