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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
INTEREST INCOME      
Loans and loan fees $ 46,625 $ 48,083 $ 61,844
U.S. Treasury securities 0 0 96
U.S. Government agency obligations 2,012 241 337
Obligations of states and political subdivisions 5,975 6,085 6,864
Collateralized mortgage obligations 2,062 4,696 5,839
Mortgage-backed securities 1,871 418 30
Corporate bonds 396 204 0
Federal funds sold and interest-bearing deposits due from banks 591 599 232
Dividends 146 121 191
Total interest income 59,678 60,447 75,433
INTEREST EXPENSE      
Saving, N.O.W. and money market deposits 1,190 1,192 1,960
Time certificates of $100,000 or more 1,128 1,567 2,029
Other time deposits 612 960 1,281
Borrowings 0 0 655
Total interest expense 2,930 3,719 5,925
Net interest income 56,748 56,728 69,508
Provision for loan losses 1,250 8,500 24,888
Net interest income after provision (credit) for loan losses 55,498 48,228 44,620
NON-INTEREST INCOME      
Service charges on deposit accounts 3,800 3,932 3,898
Other service charges, commissions and fees 3,290 3,515 3,467
Fiduciary Fees 1,084 945 853
Net gain (loss) on sale of securities available for sale 403 (217) 1,648
Other-than-temporary impairment ("OTTI") of securities 0 0 (1,052)
Net gain on sale of portfolio loans 445 755 0
Net gain on sale of mortgage loans originated for sale 1,062 1,182 405
Gain on Visa shares sold 7,766 0 0
Income from bank owned life insurance 755 0 0
Other operating income 902 769 902
Total non-interest income 19,507 10,881 10,121
OPERATING EXPENSES      
Employee compensation and benefits 33,090 35,879 30,914
Occupancy expense 6,496 5,809 5,794
Equipment expense 2,410 2,024 1,940
Consulting and professional services 2,663 3,126 4,320
FDIC assessment 1,645 1,573 3,069
Data processing 2,390 2,404 1,531
Accounting and audit fees 504 1,057 2,312
Branch consolidation costs 2,074 0 0
Reserve and carrying costs related to Visa shares sold 989 0 0
Other operating expenses 6,304 9,699 9,162
Total operating expenses 58,565 61,571 59,042
Income (loss) before income tax expense (benefit) 16,440 (2,462) (4,301)
Income tax expense (benefit) 3,722 (714) (4,223)
NET INCOME (LOSS) $ 12,718 $ (1,748) $ (78)
EARNINGS (LOSS) PER COMMON SHARE - BASIC (in dollars per share) $ 1.10 $ (0.17) $ (0.01)
EARNINGS (LOSS) PER COMMON SHARE - DILUTED (in dollars per share) $ 1.10 $ (0.17) $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES - BASIC (in shares) 11,570,731 10,248,751 9,720,827
WEIGHTED AVERAGE NUMBER OF COMMON SHARES - DILUTED (in shares) 11,591,121 10,248,751 9,720,827