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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest Income        
Interest and fees on loans $ 17,235 $ 12,221 $ 34,194 $ 25,282
Taxable income 2,887 2,717 5,571 4,798
Non-taxable income 0 134 0 297
Other interest income 310 118 660 284
Total interest income 20,432 15,190 40,425 30,661
Interest Expense        
Deposits 3,701 4,963 7,924 10,132
Retail repurchase agreements 9 14 17 31
Federal Home Loan Bank advances 387 703 666 1,401
Other borrowed funds 286 318 589 696
Total interest expense 4,383 5,998 9,196 12,260
Net Interest Income before Provision for Loan Losses 16,049 9,192 31,229 18,401
Provision for loan losses 7,778 33,580 10,845 53,763
Net Interest Income/(Loss) after Provision for Loan Losses 8,271 (24,388) 20,384 (35,362)
Noninterest Income [Abstract]        
Service charges on deposit accounts 1,960 1,485 3,920 2,929
Mortgage loan income 287 (14) 323 107
Cardholder and merchant services income 1,046 841 2,043 1,607
Trust and investment services 256 350 458 752
Bank owned life insurance 314 266 620 666
Other service charges, commissions and fees 271 216 525 356
Securities (loss)/gains, net 2,002 (98) 1,956 (84)
Gain on fair value swap 0 77 0 169
Other income 396 162 513 365
Total noninterest income 6,532 3,285 10,358 6,867
Noninterest Expense [Abstract]        
Personnel expense 10,541 6,231 20,528 12,725
Net occupancy expense 1,603 1,117 3,156 2,303
Furniture, equipment and data processing expense 2,020 1,613 3,996 3,219
Professional fees 1,109 1,628 2,373 2,879
Stationery, printing and supplies 153 99 294 218
Advertising and marketing 125 196 254 336
Other real estate owned expense 12,473 10,586 17,992 26,773
Credit/debit card expense 437 427 847 818
FDIC insurance 1,225 1,575 1,823 3,438
Loan collection expense 514 1,651 1,260 2,651
Merger-related expense (840) 0 1,418 0
Core deposit intangible amortization 352 199 704 397
Other expense 3,203 1,008 5,118 3,323
Total noninterest expense 32,915 26,330 59,763 59,080
Loss from continuing operations, before income taxes (18,112) (47,433) (29,021) (87,575)
Income tax expense (benefit) - continuing operations 26 (448) (51) (576)
Loss from continuing operations, net of tax (18,138) (46,985) (28,970) (86,999)
Loss from discontinued operations, net of tax 0 (1,989) (27) (5,682)
Net loss (18,138) (48,974) (28,997) (92,681)
Dividends on preferred stock 0 (1,087) 0 (2,104)
Net loss to common shareholders $ (18,138) $ (50,061) $ (28,997) $ (94,785)
Weighted average number of common shares outstanding - basic and diluted 21,190,848 114,265 21,146,758 114,256
Net loss per common share from continuing operations - basic and diluted $ (0.86) $ (420.71) $ (1.37) $ (779.85)
Net loss per common share from discontinued operations - basic and diluted $ 0.00 $ (17.40) $ 0.00 $ (49.73)
Net loss per common share - basic and diluted $ (0.86) $ (438.11) $ (1.37) $ (829.58)