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Condensed Consolidated Statements of Income (unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income:        
Interest and fees on non-covered loans $ 11,613 $ 12,577 $ 23,366 $ 25,206
Interest and fees on covered loans 9,382 8,487 19,250 16,808
Interest on taxable investment securities 1,387 808 2,743 1,601
Interest on tax-exempt investment securities 276 219 531 429
Other 68 66 119 111
Total interest income 22,726 22,157 46,009 44,155
Interest expense:        
Interest on deposits 1,704 2,548 3,549 5,139
Interest on junior subordinated debentures 133 121 269 241
Total interest expense 1,837 2,669 3,818 5,380
Net interest income 20,889 19,488 42,191 38,775
Provision for loan losses, non-covered loans 2,350 3,000 4,350 6,000
Provision (recovery) of loan losses, covered loans 398 (318) 398 (318)
Net interest income after provision for loan losses 18,141 16,806 37,443 33,093
Noninterest income:        
Service charges and fees 921 965 1,814 1,928
Electronic banking income 1,012 824 1,908 1,517
Investment products 367 383 729 605
Gain on sale of investment securities, net 0 0 342 0
Bank owned life insurance income 55 81 115 161
Income from the sale of mortgage loans 776 204 1,481 542
SBA premium income 105 151 192 272
Change in FDIC indemnification asset (3,145) (1,728) (6,136) (3,044)
Gain on disposition of covered assets 556 785 1,185 3,055
Other 341 957 655 1,318
Total noninterest income 988 2,622 2,285 6,354
Noninterest expense:        
Salaries and benefits 7,242 6,909 14,576 13,728
Occupancy and equipment 1,659 1,571 3,388 3,238
Office supplies and printing 425 470 838 902
Data processing 536 502 1,064 972
Consulting and professional fees 273 201 516 645
Intangible amortization 128 158 254 315
Merger related expenses 0 135 0 254
FDIC premiums 317 561 653 1,150
FDIC clawback liability adjustment 1,098 0 1,138 0
Non-covered OREO and repossession expenses, net 739 341 1,113 641
Covered OREO and repossession expenses, net 578 349 1,152 1,119
Other 2,114 2,474 4,072 4,763
Total noninterest expense 15,109 13,671 28,764 27,727
Income before provision for income taxes 4,020 5,757 10,964 11,720
Provision for income taxes 1,173 1,745 3,344 3,632
Net income before preferred dividends 2,847 4,012 7,620 8,088
Preferred stock dividends and discount accretion 0 0 0 1,084
Net income available to common shareholders $ 2,847 $ 4,012 $ 7,620 $ 7,004
Net income available per common share, basis (in dollars per share) $ 0.18 $ 0.26 $ 0.49 $ 0.46
Net income available per common share, diluted (in dollars per share) $ 0.18 $ 0.26 $ 0.49 $ 0.45
Average number of common shares outstanding, basis (in shares) 15,411,000 15,334,000 15,414,000 15,332,000
Average number of common shares outstanding, diluted (in shares) 15,446,000 15,404,000 15,449,000 15,435,000