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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
INTEREST INCOME    
Interest on Loans$ 43,763$ 44,436$ 130,917$ 133,267
Interest on Loans Held for Sale116174305390
Taxable Interest and Dividends on Securities4,9295,67915,77918,277
Non-taxable Interest and Dividends on Securities78164286553
Interest on Federal Funds Sold4913580267
TOTAL INTEREST AND DIVIDEND INCOME48,93550,588147,367152,754
INTEREST EXPENSE    
Interest on Deposits3,4194,80110,44816,225
Interest on Borrowings3,8424,59011,69613,955
TOTAL INTEREST EXPENSE7,2619,39122,14430,180
NET INTEREST INCOME41,67441,197125,223122,574
PROVISION FOR LOAN LOSSES2,0003,5007,68215,081
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES39,67437,697117,541107,493
NON-INTEREST INCOME    
Service Charges on Deposit Accounts4,2233,17812,3749,566
Interchange and ATM Fees2,0051,2635,6813,611
Investment Management3,4912,85110,3108,768
Mortgage Banking Income, Net9071,4692,6373,091
Bank Owned Life Insurance Income7579012,3232,353
Net Gain(Loss) on Sales of Securities Available for Sale (22)723458
Gross Change on Write-Down of Certain Investments to Fair Value(318)207101325
Less: Portion of Other-Than-Temporary Impairment Losses Recognized in Other Comprehensive Income290(214)(305)(594)
Net Loss on Write-Down of Certain Investments to Fair Value(28)(7)(204)(269)
Other Non-Interest Income9602,0214,5425,065
TOTAL NON-INTEREST INCOME12,31511,65438,38632,643
NON-INTEREST EXPENSE    
Salaries and Employee Benefits20,56819,79260,58256,662
Occupancy and Equipment Expenses4,1073,83912,94612,068
Data Processing and Facilities Management1,1521,4043,8284,195
Advertising Expense7034693,2471,699
FDIC Assessment6911,3522,7603,944
Consulting Expense6858031,7151,600
OREO Valuation Write-Off6561891,461272
Legal5807201,6472,575
Telephone5225131,5841,591
Other Non-Interest Expense5,7595,45918,99018,452
TOTAL NON-INTEREST EXPENSE35,42334,540108,760103,058
INCOME BEFORE INCOME TAXES16,56614,81147,16737,078
PROVISION FOR INCOME TAXES4,6073,66612,9008,676
NET INCOME$ 11,959$ 11,145$ 34,267$ 28,402
BASIC EARNINGS PER SHARE$ 0.56$ 0.53$ 1.60$ 1.35
DILUTED EARNINGS PER SHARE$ 0.56$ 0.53$ 1.60$ 1.35
WEIGHTED AVERAGE COMMON SHARES (BASIC)21,463,71420,981,37221,401,88520,961,378
Common Share Equivalents13,07752,79332,45274,536
WEIGHTED AVERAGE COMMON SHARES (DILUTED)21,476,79121,034,16521,434,33721,035,914