XML 29 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income:      
Loans $ 82,994 $ 88,180 $ 90,595
Mortgage-backed securities 10,060 11,503 3,512
Investment securities and other 2,333 1,684 1,754
Total interest income 95,387 101,367 95,861
Interest expense:      
Deposits (note 9) 10,401 14,340 18,032
Borrowed funds (note 10) 7,659 9,913 12,366
Total interest expense 18,060 24,253 30,398
Net interest income 77,327 77,114 65,463
Provision for loan losses (note 5) 7,750 8,000 5,700
Net interest income after provision for loan losses 69,577 69,114 59,763
Other income:      
Loan servicing income (loss) (note 6) 427 292 (18)
Fees and service charges 11,431 11,214 10,506
Net gain on sales of loans available for sale (note 14) 3,002 3,657 3,895
Other than temporary impairment losses on investment securities and net loss on sales of securities available for sale (note 3) (148)   (4)
Income from Bank Owned Life Insurance 1,172 845 835
Net loss from other real estate operations (623) (701) (2)
Other 40 5 377
Total other income 15,301 15,312 15,589
Operating expenses:      
Compensation and employee benefits (notes 1 and 12) 28,077 28,148 24,014
Occupancy (note 14) 5,066 5,501 5,991
Equipment 2,436 2,196 2,141
Marketing 1,766 1,745 1,767
Federal deposit insurance 2,553 2,705 3,099
Data processing 3,593 3,426 3,388
Legal 761 1,066 1,464
Check card processing 1,197 1,250 1,079
Accounting and audit 519 624 689
Merger related expenses     1,285
Other operating expense 6,696 6,986 5,627
Total operating expenses 52,664 53,647 50,544
Income before provision for income taxes 32,214 30,779 24,808
Provision for income taxes (note 11) 11,473 10,401 9,155
Net income 20,741 20,378 15,653
Dividends on preferred stock and discount accretion (note 18)     3,170
Net income available to common stockholders $ 20,741 $ 20,378 $ 12,483
Basic earnings per share $ 1.14 $ 1.12 $ 0.98
Diluted earnings per share $ 1.14 $ 1.12 $ 0.98
Average basic shares outstanding (note 1) 18,191 18,142 12,737
Average diluted shares outstanding (note 1) 18,240 18,191 12,784