XML 15 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Income (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 $ 39,690 $ 33,136 $ 78,645 $ 63,002
Investment securities        
Taxable 2,204 1,935 4,364 3,562
Tax-exempt 1,543 1,500 3,071 2,979
Deposits - other banks 142 81 247 166
Federal funds sold 1 5 8 10
Total interest income 43,580 36,657 86,335 69,719
Interest expense:        
Interest on deposits 5,986 5,872 12,246 11,167
FHLB borrowed funds 1,227 2,082 2,518 4,259
Securities sold under agreements to repurchase 125 118 264 212
Subordinated debentures 543 600 1,081 1,197
Total interest expense 7,881 8,672 16,109 16,835
Net interest income 35,699 27,985 70,226 52,884
Provision for loan losses   3,750 1,250 6,850
Net interest income after provision for loan losses 35,699 24,235 68,976 46,034
Non-interest income:        
Service charges on deposit accounts 3,639 3,583 6,790 6,724
Other service charges and fees 2,602 1,899 4,886 3,537
Mortgage lending income 661 650 1,306 1,062
Mortgage servicing income   154   314
Insurance commissions 470 309 1,077 656
Income from title services 110 148 201 255
Increase in cash value of life insurance 287 348 526 776
Dividends from FHLB, FRB & bankers' bank 181 142 322 268
Gain on acquisitions       9,334
Gain on sale of SBA loans   18 259 18
Gain (loss) on sale of premises and equipment, net 77 12 73 219
Gain (loss) on OREO, net (1,007) (404) (1,101) (245)
Gain (loss) on securities, net        
FDIC indemnification asset 1,463 663 3,300 736
Other income 644 698 1,528 1,211
Total non-interest income 9,127 8,220 19,167 24,865
Non-interest expense:        
Salaries and employee benefits 10,680 9,080 21,758 17,614
Occupancy and equipment 3,648 2,973 7,361 5,772
Data processing expense 1,137 954 2,422 1,816
Other operating expenses 8,391 5,983 16,176 12,343
Total non-interest expense 23,856 18,990 47,717 37,545
Income before income taxes 20,970 13,465 40,426 33,354
Income tax expense 7,424 4,508 14,164 11,516
Net income available to all stockholders 13,546 8,957 26,262 21,838
Preferred stock dividends and accretion of discount on preferred stock 670 670 1,340 1,340
Net income available to common stockholders $ 12,876 $ 8,287 $ 24,922 $ 20,498
Basic earnings per common share $ 0.46 $ 0.29 $ 0.88 $ 0.72
Diluted earnings per common share $ 0.45 $ 0.29 $ 0.87 $ 0.72