XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Loans receivable:    
Taxable $ 37,159 $ 35,848
Tax exempt 117 117
Investment securities:    
Taxable 3,618 4,574
Tax exempt 2,454 2,562
Deposits with financial institutions 19 25
Federal Reserve and Federal Home Loan Bank stock 371 343
Total Interest Income 43,738 43,469
INTEREST EXPENSE    
Deposits 2,891 4,110
Federal funds purchased 11 12
Securities sold under repurchase agreements 194 295
Federal Home Loan Bank advances 459 994
Subordinated debentures and term loans 725 1,942
Total Interest Expense 4,280 7,353
NET INTEREST INCOME 39,458 36,116
Provision for loan losses 2,102 4,875
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,356 31,241
OTHER INCOME    
Service charges on deposit accounts 2,729 2,819
Fiduciary activities 2,107 1,983
Other customer fees 2,780 2,586
Commission income 2,172 1,667
Earnings on cash surrender value of life insurance 700 1,378
Net gains and fees on sales of loans 2,378 1,952
Net realized gains on sales of available for sale securities 248 789
Gain on FDIC modified whole bank transaction    9,124
Other income 763 360
Total Other Income 13,877 22,658
OTHER EXPENSES    
Salaries and employee benefits 20,791 19,354
Net occupancy 2,602 2,651
Equipment 1,774 1,805
Marketing 467 442
Outside data processing fees 1,480 1,376
Printing and office supplies 331 267
Core deposit amortization 387 469
FDIC assessments 744 1,117
Other real estate owned and credit-related expenses 1,866 2,186
Other expenses 4,258 4,361
Total Other Expenses 34,700 34,028
INCOME BEFORE INCOME TAX 16,533 19,871
Income tax expense 4,668 5,500
NET INCOME 11,865 14,371
Preferred stock dividends and discount accretion (857) (1,135)
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 11,008 $ 13,236
Per Share Data:    
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.38 $ 0.46
Diluted Net Income Available to Common Stockholders (in dollars per share) $ 0.38 $ 0.46
Cash Dividends Paid (in dollars per share) $ 0.03 $ 0.01
Average Diluted Shares Outstanding (in shares) 28,971,238 28,754,713