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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST INCOME        
Loans not covered by FDIC loss share $ 23,483,000 $ 23,192,000 $ 69,781,000 $ 67,822,000
Loans covered by FDIC loss share 7,132,000 5,041,000 19,776,000 16,009,000
Federal funds sold 6,000 2,000 14,000 4,000
Investment securities 3,428,000 3,027,000 9,349,000 9,615,000
Mortgage loans held for sale 122,000 171,000 395,000 487,000
Assets held in trading accounts 6,000 12,000 23,000 37,000
Interest bearing balances due from banks 234,000 267,000 875,000 919,000
TOTAL INTEREST INCOME 34,411,000 31,712,000 100,213,000 94,893,000
INTEREST EXPENSE        
Deposits 1,993,000 2,521,000 6,274,000 8,165,000
Federal funds purchased and securities sold under agreements to repurchase 46,000 69,000 165,000 248,000
Other borrowings 646,000 792,000 2,072,000 2,406,000
Subordinated debentures 162,000 389,000 483,000 1,166,000
TOTAL INTEREST EXPENSE 2,847,000 3,771,000 8,994,000 11,985,000
NET INTEREST INCOME 31,564,000 27,941,000 91,219,000 82,908,000
Provision for loan losses 1,081,000 1,299,000 3,034,000 2,846,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 30,483,000 26,642,000 88,185,000 80,062,000
NON-INTEREST INCOME        
Trust income 1,448,000 1,440,000 4,234,000 3,988,000
Service charges on deposit accounts 4,603,000 4,368,000 13,318,000 12,163,000
Other service charges and fees 728,000 684,000 2,294,000 2,211,000
Mortgage lending income 1,122,000 1,705,000 3,677,000 4,441,000
Investment banking income 240,000 560,000 1,390,000 1,700,000
Credit card fees 4,400,000 4,104,000 12,779,000 12,390,000
Bank owned life insurance income 328,000 355,000 974,000 1,078,000
Gain on FDIC-assisted transactions   1,120,000   1,120,000
Loss on sale of securities 0 0 (193,000) 0
Net (loss) gain on assets covered by FDIC loss share agreements (3,443,000) (2,689,000) (8,200,000) (7,507,000)
Other income 887,000 165,000 2,626,000 2,037,000
TOTAL NON-INTEREST INCOME 10,313,000 11,812,000 32,899,000 33,621,000
NON-INTEREST EXPENSE        
Salaries and employee benefits 17,701,000 15,911,000 54,146,000 49,323,000
Occupancy expense, net 2,485,000 2,182,000 7,490,000 6,291,000
Furniture and equipment expense 1,613,000 1,835,000 5,367,000 5,047,000
Other real estate and foreclosure expense 385,000 280,000 775,000 681,000
Deposit insurance 595,000 444,000 1,862,000 1,472,000
Merger related costs 190,000 815,000 (37,000) 815,000
Other operating expenses 7,934,000 7,219,000 23,529,000 21,928,000
TOTAL NON-INTEREST EXPENSE 30,903,000 28,686,000 93,132,000 85,557,000
INCOME BEFORE INCOME TAXES 9,893,000 9,768,000 27,952,000 28,126,000
Provision for income taxes 2,961,000 3,008,000 8,507,000 8,475,000
NET INCOME $ 6,932,000 $ 6,760,000 $ 19,445,000 $ 19,651,000
BASIC EARNINGS PER SHARE (in Dollars per share) $ 0.43 $ 0.41 $ 1.19 $ 1.16
DILUTED EARNINGS PER SHARE (in Dollars per share) $ 0.43 $ 0.41 $ 1.19 $ 1.16