XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest and Dividend Income    
Loans, including fees $ 123,067 $ 123,934
Mortgage loans held for sale, including fees 1,325 1,049
Investment securities:    
Taxable interest 7,105 9,538
Tax-exempt interest 1,756 1,917
Amortization of FDIC loss share receivable (27,702) (27,927)
Other 865 676
Total interest and dividend income 106,416 109,187
Interest Expense    
NOW and MMDA 5,406 6,146
Savings 94 149
Time deposits 4,654 7,666
Short-term borrowings 141 142
Long-term debt 3,250 3,223
Total interest expense 13,545 17,326
Net interest income 92,871 91,861
(Reversal of) provision for credit losses (3,377) 2,857
Net interest income after provision for credit losses 96,248 89,004
Noninterest Income    
Service charges on deposit accounts 6,797 5,980
Mortgage income 18,931 13,718
Title revenue 5,021 4,533
ATM/debit card fee income 2,183 2,024
Income from bank owned life insurance 939 951
Gain (loss) on sale of assets 47 (25)
Gain on sale of available for sale investments 2,328 2,800
Derivative losses reclassified from other comprehensive income (425) (386)
Broker commissions 3,534 3,060
Other income 5,136 4,741
Total noninterest income 44,491 37,396
Noninterest Expense    
Salaries and employee benefits 62,529 54,819
Net occupancy and equipment 15,195 12,719
Impairment of FDIC loss share receivables 31,813  
Franchise and shares tax 1,220 1,020
Communication and delivery 3,271 3,133
Marketing and business development 3,087 3,022
Data processing 3,992 3,176
Printing, stationery and supplies 757 790
Amortization of acquisition intangibles 1,183 1,290
Professional services 4,418 4,100
Net costs of OREO property 972 2,684
Credit and other loan related expense 3,739 4,027
Insurance 2,501 2,609
Travel and entertainment 2,268 2,124
Other expenses 7,953 4,361
Total noninterest expense 144,898 99,873
Income (loss) before income tax expense (4,159) 26,527
Income tax expense (benefit) (4,876) 7,134
Net Income 717 19,393
Income Available to Common Shareholders - Basic 717 19,393
Earnings Allocated to Unvested Restricted Stock   (364)
Earnings Available to Common Shareholders - Diluted 717 19,029
Earnings per common share - Basic $ 0.02 $ 0.66
Earnings per common share - Diluted $ 0.02 $ 0.66
Cash dividends declared per common share $ 0.34 $ 0.34
Unrealized gains on securities:    
Unrealized holding gains (losses) arising during the period (1,994) (1,056)
Other than temporary impairment realized in net income      
Less: reclassification adjustment for gains included in net income (2,328) (2,800)
Unrealized (loss) gain on securities, before tax (4,322) (3,856)
Fair value of derivative instruments designated as cash flow hedges:    
Change in fair value of derivative instruments designated as cash flow hedges during the period 2,073 4,951
Less: reclassification adjustment for losses (gains) included in net income 425 386
Fair value of derivative instruments designated as cash flow hedges, before tax 2,498 5,337
Other comprehensive income (loss), before tax (1,824) 1,481
Income tax expense (benefit) related to items of other comprehensive income (639) 518
Other comprehensive income (loss), net of tax (1,185) 963
Comprehensive income (loss) $ (468) $ 20,356