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Consolidated Statements Of Income (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest and Dividend Income        
Loans, including fees $ 100,959,000 $ 88,354,000 $ 208,567,000 $ 170,771,000
Mortgage loans held for sale, including fees 752,000 1,048,000 1,714,000 1,706,000
Investment securities:        
Taxable interest 12,109,000 11,022,000 23,540,000 22,343,000
Tax-exempt interest 1,210,000 1,094,000 2,136,000 2,224,000
Accretion (amortization) of FDIC loss share receivable (18,315,000) (1,141,000) (40,228,000) 621,000
Other 412,000 840,000 833,000 1,172,000
Total interest and dividend income 97,127,000 101,217,000 196,562,000 198,837,000
Interest Expense        
Deposits 18,126,000 26,010,000 37,062,000 49,065,000
Short-term borrowings 141,000 196,000 268,000 390,000
Long-term debt 2,895,000 4,872,000 4,518,000 10,037,000
Total interest expense 21,162,000 31,078,000 41,848,000 59,492,000
Net interest income 75,965,000 70,139,000 154,714,000 139,345,000
Provision for loan losses 9,990,000 12,899,000 15,461,000 26,100,000
Net interest income after provision for loan losses 65,975,000 57,240,000 139,253,000 113,245,000
Noninterest Income        
Service charges on deposit accounts 6,343,000 6,376,000 11,855,000 12,277,000
ATM/debit card fee income 2,966,000 2,557,000 5,879,000 4,882,000
Income from bank owned life insurance 748,000 717,000 1,473,000 1,426,000
Gain on sale of loans, net 9,389,000 10,625,000 18,281,000 17,999,000
Gain on acquisitions       3,781,000
Title income 4,492,000 4,813,000 8,302,000 8,516,000
Broker commissions 2,624,000 1,671,000 5,266,000 2,883,000
Other income 4,426,000 3,945,000 8,227,000 7,293,000
Total noninterest income 30,988,000 30,704,000 59,283,000 59,057,000
Noninterest Expense        
Salaries and employee benefits 46,048,000 39,578,000 89,678,000 75,390,000
Occupancy and equipment 12,067,000 8,121,000 21,179,000 15,714,000
Franchise and shares tax 1,018,000 916,000 1,999,000 1,496,000
Communication and delivery 2,495,000 2,377,000 5,023,000 4,764,000
Marketing and business development 2,718,000 1,482,000 4,804,000 2,938,000
Data processing 4,755,000 3,333,000 7,774,000 6,161,000
Printing, stationery and supplies 807,000 794,000 1,637,000 1,511,000
Amortization of acquisition intangibles 1,183,000 1,269,000 2,352,000 2,279,000
Professional services 4,228,000 4,209,000 7,355,000 7,746,000
Other expenses 17,387,000 13,696,000 32,638,000 24,776,000
Total noninterest expense 92,706,000 75,775,000 174,439,000 142,775,000
Income before income tax expense 4,257,000 12,169,000 24,097,000 29,527,000
Income tax (benefit) expense (929,000) 3,329,000 4,264,000 7,684,000
Net Income 5,186,000 8,840,000 19,833,000 21,843,000
Preferred Stock Dividends        
Earnings Available to Common Shareholders - Basic 5,186,000 8,840,000 19,833,000 21,843,000
Earnings Allocated to Unvested Restricted Stock (87,000) (189,000) (378,000) (433,000)
Earnings Available to Common Shareholders - Diluted $ 5,099,000 $ 8,651,000 $ 19,455,000 $ 21,410,000
Earnings per common share - Basic $ 0.19 [1] $ 0.33 [1] $ 0.72 [1] $ 0.89 [1]
Earnings per common share - Diluted $ 0.18 $ 0.33 $ 0.72 $ 0.88
Cash dividends declared per common share $ 0.34 $ 0.34 $ 0.68 $ 0.68
[1] Total earnings available to common shareholders include distributed earnings of $10,093,000, or $0.37 per weighted average share, and an undistributed loss of $4,998,000, or $0.18 per weighted average share for the three months ended June 30, 2011. Total earnings available to common shareholders include distributed earnings of $8,940,000, or $0.34 per weighted average share, and an undistributed loss of $288,000, or $0.01 per weighted average share for the three months ended June 30, 2010. Total earnings available to common shareholders include distributed earnings of $19,076,000, or $0.71 per weighted average share, and undistributed earnings of $378,000, or $0.01 per weighted average share for the six months ended June 30, 2011. Total earnings available to common shareholders include distributed earnings of $17,870,000 or $0.74 per weighted average share, and undistributed earnings of $3,541,000, or $0.15 per weighted average share for the six months ended June 30, 2010.