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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Loans receivable:        
Taxable $ 38,160 $ 37,024 $ 110,660 $ 113,219
Tax exempt 118 86 358 435
Investment securities:        
Taxable 4,176 5,078 13,218 14,665
Tax exempt 2,532 2,529 7,645 7,617
Federal funds sold       3
Deposits with financial institutions 16 45 69 228
Federal Reserve and Federal Home Loan Bank stock 345 323 1,035 1,005
Total Interest Income 45,347 45,085 132,985 137,172
INTEREST EXPENSE        
Deposits 3,517 5,046 11,566 17,776
Federal funds purchased 38 16 62 22
Securities sold under repurchase agreements 211 384 703 1,148
Federal Home Loan Bank advances 492 1,089 2,123 3,067
Subordinated debentures and term loans 1,187 2,699 4,460 7,984
Total Interest Expense 5,445 9,234 18,914 29,997
NET INTEREST INCOME 39,902 35,851 114,071 107,175
Provision for loan losses 4,609 5,556 14,029 16,775
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 35,293 30,295 100,042 90,400
OTHER INCOME        
Service charges on deposit accounts 2,913 3,169 8,625 8,945
Fiduciary activities 1,986 1,881 5,907 5,846
Other customer fees 2,740 2,583 8,476 7,452
Commission income 1,618 1,528 4,770 4,440
Earnings on cash surrender value of life insurance 685 644 2,725 1,793
Net gains and fees on sales of loans 2,849 1,768 7,115 4,671
Net realized gains on sales of available for sale securities 843 861 2,134 2,149
Other-than-temporary impairment on available for sale securities       (2,780)
Portion of loss recognized in other comprehensive income before taxes       2,380
Net impairment losses recognized in earnings       (400)
Gain on FDIC modified whole bank transaction     9,124  
Other income 639 796 1,220 1,253
Total Other Income 14,273 13,230 50,096 36,149
OTHER EXPENSES        
Salaries and employee benefits 20,083 19,964 59,078 55,700
Net occupancy 2,568 2,530 7,692 7,690
Equipment 1,798 1,662 5,259 5,122
Marketing 536 534 1,542 1,352
Outside data processing fees 1,413 1,391 4,295 4,294
Printing and office supplies 287 301 848 902
Core deposit amortization 489 755 1,438 2,957
FDIC assessments 792 1,201 2,771 4,756
Other real estate owned and credit-related expenses 2,104 2,007 6,412 8,045
Other expenses 4,334 3,877 13,277 11,684
Total Other Expenses 34,404 34,222 102,612 102,502
INCOME BEFORE INCOME TAX 15,162 9,303 47,526 24,047
Income tax expense 3,926 2,561 12,714 6,356
NET INCOME 11,236 6,742 34,812 17,691
Loss on retirement of CPP preferred stock   (1,401)   (1,401)
Loss on extinguishment of trust preferred securities   (10,857)   (10,857)
Preferred stock dividends and discount accretion (1,134) (868) (3,404) (2,846)
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ 10,102 $ (6,384) $ 31,408 $ 2,587
Per Share Data:        
Basic Net Income (Loss) Available to Common Stockholders $ 0.35 $ (0.25) $ 1.09 $ 0.10
Diluted Net Income (Loss) Available to Common Stockholders $ 0.35 $ (0.25) $ 1.09 $ 0.10
Cash Dividends Paid $ 0.03 $ 0.01 $ 0.07 $ 0.03
Average Diluted Shares Outstanding 28,888,076 26,367,067 28,819,283 26,018,936