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Consolidated Statements of Operations (Unaudited) (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:        
Loans $ 113,647 $ 148,797 $ 237,147 $ 305,047
Investment securities 12,688 15,619 31,040 30,210
Other 1,090 304 1,390 877
Total interest income 127,425 164,720 269,577 336,134
Interest expense:        
Deposits 13,398 15,279 26,781 31,637
Borrowings 32,409 45,478 65,778 94,121
Total interest expense 45,807 60,757 92,559 125,758
Net interest income 81,618 103,963 177,018 210,376
Provision for loan losses 1,523 25,262 46,332 244,202
Net interest income (loss) after provision for loan losses 80,095 78,701 130,686 (33,826)
Operating expenses:        
Compensation and benefits 29,098 29,423 59,477 63,606
Professional fees 10,914 8,497 18,102 18,867
Other administrative expenses 15,310 15,671 32,004 34,323
Total operating expenses 55,322 53,591 109,583 116,796
Other income (expense):        
Gain on investments, net 8,725 10,257 32,240 16,336
Loss on derivatives (271) (3,614) (2,149) (7,951)
Net expense of real estate owned and other foreclosed assets (10,355) (43,175) (20,528) (83,667)
Other income, net 10,971 1,726 17,498 18,201
Total other income (expense) 9,070 (34,806) 27,061 (57,081)
Net income (loss) from continuing operations before income taxes 33,843 (9,696) 48,164 (207,703)
Income tax expense (benefit) 17,249 (4,174) 28,411 16,832
Net income (loss) from continuing operations 16,594 (5,522) 19,753 (224,535)
Net income from discontinued operations, net of taxes   2,166   9,489
Net gain from sale of discontinued operations, net of taxes   21,696   21,696
Net income (loss) $ 16,594 $ 18,340 $ 19,753 $ (193,350)
Basic income (loss) per share:        
From continuing operations $ 0.05 $ (0.02) $ 0.06 $ (0.70)
From discontinued operations   $ 0.08   $ 0.10
Net income (loss) per share $ 0.05 $ 0.06 $ 0.06 $ (0.60)
Diluted income (loss) per share:        
From continuing operations $ 0.05 $ (0.02) $ 0.06 $ (0.70)
From discontinued operations   $ 0.08   $ 0.10
Net income (loss) per share $ 0.05 $ 0.06 $ 0.06 $ (0.60)
Average shares outstanding:        
Basic 320,426,484 320,802,358 320,311,588 320,547,818
Diluted 327,087,717 320,802,358 327,025,588 320,547,818
Dividends declared per share $ 0.01 $ 0.01 $ 0.02 $ 0.02