XML 13 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Consolidated Statements of Income (unaudited) (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income:    
Interest and fees on non-covered loans$ 12,466$ 13,407$ 37,670$ 39,816
Interest and fees on covered loans8,6146,84825,42211,225
Interest on taxable investment securities1,1236992,7241,620
Interest on tax-exempt investment securities220187649514
Other8999200231
Total interest income22,51221,24066,66553,406
Interest expense:    
Interest on deposits2,3103,0757,4498,383
Interest on other borrowed funds0590243
Interest on junior subordinated debentures120135361374
Total interest expense2,4303,2697,8109,000
Net interest income20,08217,97158,85544,406
Provision for loan losses, non-covered loans2,5003,9508,5008,650
Recovery of loan losses, covered loans00(318)0
Net interest income after provision for loan losses17,58214,02150,67335,756
Noninterest income:    
Service charges and fees9568762,8842,413
Electronic banking income8386272,3551,644
Investment products230120835348
Bank owned life insurance income8461245241
Income from the sale of mortgage loans215352757697
SBA premium income103126375378
Change in FDIC indemnification asset(2,586)790(5,630)1,575
Gain on disposition of covered assets1,1193324,1041,065
Bargain purchase gain on acquisition019,925019,925
Other4723631,8601,076
Total noninterest income1,43123,5727,78529,362
Noninterest expense:    
Salaries and benefits7,3106,61521,03817,471
Occupancy and equipment1,6601,6774,8984,042
Office supplies and printing3854151,2871,115
Data processing4464031,4181,011
Consulting and professional fees20292847491
Intangible amortization160234475425
Merger related expenses709783241,653
FDIC premiums3195621,4691,068
Non-covered OREO and repossession expenses5592581,199641
Covered OREO and repossession expenses501(130)1,620151
Other2,1951,7406,9574,477
Total noninterest expense13,80712,84441,53232,545
Income before provision for income taxes5,20624,74916,92632,573
Provision for income taxes1,5818,3775,21310,712
Net income before preferred dividends3,62516,37211,71321,861
Preferred stock dividends and discount accretion04151,0841,244
Net income available to common shareholders$ 3,625$ 15,957$ 10,629$ 20,617
Net income available per common share, basic (in dollars per share)$ 0.24$ 1.04$ 0.69$ 1.35
Net income available per common share, diluted (in dollars per share)$ 0.24$ 1.03$ 0.69$ 1.33
Average number of common shares outstanding, basic (in shares)15,343,00015,309,00015,339,00015,303,000
Average number of common shares outstanding, diluted (in shares)15,391,00015,473,00015,421,00015,452,000