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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income:        
Loans secured by real estate $ 44,692 $ 47,259 $ 87,840 $ 97,772
Other loans 25 28 50 48
Mortgage-backed securities 354 832 813 1,779
Investment securities 103 505 232 820
Federal funds sold and other short-term investments 462 639 1,006 1,313
Total interest income 45,636 49,263 89,941 101,732
Interest expense:        
Deposits and escrow 5,132 5,422 10,332 11,148
Borrowed funds 6,752 9,343 13,542 22,692
Total interest expense 11,884 14,765 23,874 33,840
Net interest income 33,752 34,498 66,067 67,892
Provision for loan losses 28 2,275 185 3,732
Net interest income after provision for loan losses 33,724 32,223 65,882 64,160
Non-interest income:        
Total other than temporary impairment (OTTI) losses 0 0 0 (187)
Less: Non-credit portion of OTTI recorded in other comprehensive income (before taxes) 0 0 0 6
Net OTTI recognized in earnings 0 0 0 (181)
Service charges and other fees 827 802 1,539 1,596
Net mortgage banking income 112 1,095 273 1,216
Net (loss) gain on sales of securities (17) 8 193 114
Income from bank owned life insurance 417 420 830 841
Other 382 663 783 1,192
Total non-interest income 1,721 2,988 3,618 4,778
Non-interest expense:        
Salaries and employee benefits 8,338 8,519 17,271 17,507
Stock benefit plan amortization expense 960 958 1,978 1,909
Occupancy and equipment 2,506 2,434 5,038 4,905
Federal deposit insurance premiums 445 457 956 1,055
Data processing costs 863 742 1,675 1,476
Other 2,235 2,566 4,738 5,232
Total non-interest expense 15,347 15,676 31,656 32,084
Income before income taxes 20,098 19,535 37,844 36,854
Income tax expense 8,059 8,004 15,235 15,076
Net income 12,039 11,531 22,609 21,778
Earnings per Share:        
Basic $ 0.34 $ 0.34 $ 0.65 $ 0.64
Diluted $ 0.34 $ 0.34 $ 0.65 $ 0.64
STATEMENTS OF COMPREHENSIVE INCOME        
Net income 12,039 11,531 22,609 21,778
Amortization and reversal of net unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of taxes of $23 and $43 during the three months ended June 30, 2013 and 2012, respectively, and $50 and $64 during the six months ended June 30, 2013 and 2012, respectively 28 53 62 78
Reduction in non-credit component of OTTI charge, net of taxes of $4 and $122 during the three months ended June 30, 2013 and 2012, respectively, and $8 and $127 during the six months ended June 30, 2013 and 2012, respectively 4 149 8 154
Non-credit component of OTTI charge recognized during the period, net of tax benefit of $(3) during the six months ended June 30, 2012 0 0 0 (3)
Reclassification adjustment for securities sold during the period, net of taxes of $(20) during the three months ended June 30, 2012, and $(50) and $(20) during the six months ended June 30, 2013 and 2012, respectively 0 (24) (60) (24)
Net unrealized securities gains (losses) arising during the period, net of (tax benefits) taxes of $(145) and $(245) during the three months ended June 30, 2013 and 2012, respectively and $51 and $(218) during the six months ended June 30, 2013 and 2012, respectively (175) (252) 66 (217)
Defined benefit plan adjustments, net of taxes of $256 during the six months ended June 30, 2012 0 0 0 312
Comprehensive Income $ 11,896 $ 11,457 $ 22,685 $ 22,078