XML 40 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest income:      
Interest and fees on non-covered loans $ 49,760 $ 53,414 $ 53,128
Interest and fees on covered loans 34,819 19,173 0
Interest on taxable investment securities 3,967 2,348 809
Interest on tax-exempt investment securities 902 716 402
Other 259 298 53
Total interest income 89,707 75,949 54,392
Interest expense:      
Interest on deposits 9,492 11,091 12,920
Interest on other borrowed funds 0 243 434
Interest on junior subordinated debentures 489 496 665
Total interest expense 9,981 11,830 14,019
Net interest income 79,726 64,119 40,373
Provision for loan losses, non-covered loans 10,500 12,150 10,200
Provision (recovery) for loan losses, covered loans (450) 1,336 0
Net interest income after provision for loan losses 69,676 50,633 30,173
Noninterest income:      
Service charges and fees 3,818 3,346 3,426
Electronic banking income 3,197 2,306 1,397
Investment products 1,072 522 532
Bank owned life insurance income 311 226 154
Income from the sale of mortgage loans 1,197 1,134 865
SBA premium income 444 578 180
Change in FDIC indemnification asset (9,232) 1,884 0
Gain on disposition of covered assets 6,312 1,840 0
Bargain purchase gain on acquisition 0 19,925 0
Other 2,093 1,770 1,107
Total noninterest income 9,212 33,531 7,661
Noninterest expense:      
Salaries and benefits 27,496 23,527 14,374
Occupancy and equipment 6,553 5,631 4,244
Office supplies and printing 1,665 1,594 799
Data processing 1,916 1,434 555
Consulting and professional fees 1,152 891 811
Intangible amortization 622 672 0
Merger related expenses 324 2,113 0
FDIC premiums 1,818 1,609 1,374
FDIC clawback liability 1,576 0 0
Non-covered OREO and repossession expenses 1,358 1,196 1,531
Covered OREO and repossession expenses 2,192 1,240 0
Other 9,153 6,890 5,046
Total noninterest expense 55,825 46,797 28,734
Income before provision for income taxes 23,063 37,367 9,100
Provision for income taxes 7,111 11,797 2,886
Net income before preferred dividends 15,952 25,570 6,214
Preferred stock dividends and discount accretion 1,084 1,659 1,600
Net income available to common shareholders $ 14,868 $ 23,911 $ 4,614
Net income available per common share, basis (in dollars per share) $ 0.97 $ 1.56 $ 0.46
Net income available per common share, diluted (in dollars per share) $ 0.97 $ 1.55 $ 0.46
Average number of common shares outstanding, basis (in shares) 15,329,000 15,307,000 10,011,000
Average number of common shares outstanding, diluted (in shares) 15,393,000 15,465,000 10,079,000