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Quarterly Results
12 Months Ended
Dec. 31, 2011
Quarterly Results [Abstract]  
Quarterly Results

NOTE 13 — QUARTERLY RESULTS (UNAUDITED)

Summarized quarterly results of operations were as follows (in thousands, except per share amounts).

 

     First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 

Year Ended December 31, 2011

        

Interest income

   $ 53,254      $ 63,194      $ 62,949      $ 63,981   

Interest expense

     (14,513     (15,894     (17,930     (17,743
  

 

 

   

 

 

   

 

 

   

 

 

 
     38,741        47,300        45,019        46,238   

Other revenue (expense)

     (4,114     (4,824     (4,080     (4,335

Equity in earnings of unconsolidated affiliates

     65        65        64        65   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 34,692      $ 42,541      $ 41,003      $ 41,968   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted net income per common share

   $ 0.41      $ 0.48      $ 0.43      $ 0.43   

Year Ended December 31, 2010

        

Interest income

   $ 60,242      $ 47,769      $ 40,725      $ 51,042   

Interest expense

     (15,555     (13,333     (13,282     (14,081
  

 

 

   

 

 

   

 

 

   

 

 

 
     44,687        34,436        27,443        36,961   

Other revenue (expense)

     (4,315     (4,742     (3,834     (3,999

Equity in earnings of unconsolidated affiliates

     65        65        64        65   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 40,437      $ 29,759      $ 23,673      $ 33,027   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted net income per common share

   $ 0.51      $ 0.35      $ 0.27      $ 0.40