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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest Income        
Interest and fees on loans $ 27,279 $ 21,878 $ 51,894 $ 42,340
Interest and dividends on investment securities 1,665 1,738 3,285 3,715
Interest on balances with other banks and short-term investments 17 26 36 59
Interest on federal funds sold 35 47 77 83
Total interest income 28,996 23,689 55,292 46,197
Interest Expense        
Interest on deposits 4,397 4,317 8,508 8,855
Interest on customer repurchase agreements 171 195 321 378
Interest on short-term borrowings   9   27
Interest on long-term borrowings 534 551 1,063 1,097
Total interest expense 5,102 5,072 9,892 10,357
Net Interest Income 23,894 18,617 45,400 35,840
Provision for Credit Losses 3,215 2,101 5,331 3,790
Net Interest Income After Provision For Credit Losses 20,679 16,516 40,069 32,050
Noninterest Income        
Service charges on deposits 672 756 1,421 1,486
Gain on sale of loans 1,106 197 2,807 251
Gain on sale of investment securities 591 573 591 573
Increase in the cash surrender value of bank owned life insurance 100 107 201 217
Other income 724 377 1,106 705
Total noninterest income 3,193 2,010 6,126 3,232
Noninterest Expense        
Salaries and employee benefits 7,761 5,969 15,072 11,644
Premises and equipment expenses 2,052 2,612 4,043 4,704
Marketing and advertising 747 281 981 528
Data processing 912 643 1,601 1,258
Legal, accounting and professional fees 1,003 952 2,139 1,526
FDIC insurance 600 701 1,343 1,335
Other expenses 1,858 1,979 4,067 3,605
Total noninterest expense 14,933 13,137 29,246 24,600
Income Before Income Tax Expense 8,939 5,389 16,949 10,682
Income Tax Expense 3,185 1,942 6,059 3,844
Net Income 5,754 3,447 10,890 6,838
Preferred Stock Dividends and Discount Accretion 883 324 1,203 644
Net Income Available to Common Shareholders $ 4,871 $ 3,123 $ 9,687 $ 6,194
Earnings Per Common Share        
Basic (in dollars per share) $ 0.25 $ 0.16 $ 0.49 $ 0.32
Diluted (in dollars per share) $ 0.24 $ 0.16 $ 0.48 $ 0.31