Quarterly Results Of Operations

12 Months Ended

Dec. 31, 2011

Quarterly Results Of Operations [Abstract]

Quarterly Results Of Operations

NOTE 25 – QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

(dollars in thousands, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Year Ended December 31, 2011
Total interest income	$	99,434		$	97,127		$	111,966		$	111,799
Total interest expense		20,686			21,162			20,995			19,226
Net interest income		78,748			75,965			90,971			92,573
Provision for loan losses		5,471			9,990			6,127			4,278
Net interest income after provision for loan losses		73,277			65,975			84,844			88,295
Gain (loss) on sale of investments, net		47			1,428			1,206			793
Other noninterest income		28,248			29,560			35,914			34,662
Noninterest expense		81,732			92,706			99,566			99,726
Income before income taxes		19,840			4,257			22,398			24,024
Income tax expense (benefit)		5,193			(929	)		6,051			6,667
Net income	$	14,647		$	5,186			16,347		$	17,357
Preferred stock dividends		—			—			—			—
Income available to common shareholders	$	14,647		$	5,186		$	16,347		$	17,357
Earnings allocated to unvested restricted stock		(291	)		(87	)		(290	)		(307	)
Earnings available to common shareholders – Diluted	$	14,356		$	5,099		$	16,057		$	17,050
Earnings per share – basic	$	0.54		$	0.19		$	0.55		$	0.59
Earnings per share – diluted		0.54			0.18			0.54			0.59

(dollars in thousands, except per share data)	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Year ended December 31, 2010
Total interest income	$	97,620		$	101,217		$	99,818		$	97,716
Total interest expense		28,414			31,078			29,885			25,367
Net interest income		69,206			70,139			69,933			72,349
Provision for loan losses		13,201			12,899			5,128			11,224
Net interest income after provision for loan losses		56,005			57,240			64,805			61,125
Gain (Loss) on sale of investments, net		922			60			4,176			93
Other noninterest income		27,431			30,644			32,605			37,959
Noninterest expense		67,000			75,775			80,371			81,102
Income before income taxes		17,358			12,169			21,215			18,075
Income tax expense		4,354			3,329			7,275			5,033
Net income	$	13,004		$	8,840		$	13,940		$	13,042
Preferred stock dividends		—			—			—			—
Income available to common shareholders	$	13,004		$	8,840		$	13,940		$	13,042
Earnings allocated to unvested restricted stock		(252	)		(189	)		(288	)		(261	)
Earnings available to common shareholders – Diluted	$	12,752		$	8,651		$	13,652		$	12,781
Earnings per share – basic	$	0.60		$	0.33		$	0.52		$	0.49
Earnings per share – diluted		0.59			0.33			0.52			0.48

The results of operations for the third quarter of 2011 presented in the table above have been revised from amounts previously disclosed in the Company's Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2011 as a result of the Company's revised goodwill recorded on its OMNI and Cameron acquisitions. The Company revised its acquired loan and OREO valuations during the fourth quarter of 2011, which resulted in a change in the estimated income earned on the acquired loan and OREO portfolios.

The following table presents the effect this revision has on the Company's results of operations for the three months ended September 30, 2011.

(dollars in thousands)	As Previously Reported		Adjustment			As Adjusted
Selected Income Statement Data
Interest income	$	113,430	$	(1,464	)	$	111,966
Net interest income		92,435		(1,464	)		90,971
Net interest income after provision for loan losses		86,308		(1,464	)		84,844
Income before income taxes		23,862		(1,464	)		22,398
Income tax expense		6,563		(512	)		6,051
Net Income		17,299		(952	)		16,347
Income Available to Common Shareholders – Basic		17,299		(952	)		16,347
Income Available to Common Shareholders – Diluted		16,992		(935	)		16,057
Earnings per common share – Basic	$	0.58	$	0.03		$	0.55
Earnings per common share – Diluted	$	0.58	$	0.04		$	0.54