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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
INTEREST INCOME:      
Interest and fees on loans $ 80,641 $ 90,837 $ 88,321
Interest on federal funds sold 28 10 25
Interest and dividends on securities:      
Taxable 5,946 5,570 5,112
Non-taxable 2,272 2,200 2,039
Interest-bearing deposits 348 385 45
Interest Income, Operating 89,235 99,002 95,542
INTEREST EXPENSE      
Time deposits of $100 or more 10,075 13,274 11,354
Other time and savings deposits 13,800 18,619 17,630
Borrowed funds 2,098 2,440 2,847
TOTAL INTEREST EXPENSE 25,973 34,333 31,831
NET INTEREST INCOME 63,262 64,669 63,711
PROVISION FOR LOAN LOSSES 20,843 24,349 48,439
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 42,419 40,320 15,272
NON-INTEREST INCOME:      
Service charges on deposit accounts 5,894 5,961 5,731
Other service fees 3,707 3,997 4,869
Net gain on sales and fees of mortgage loans 4,488 9,022 13,563
Net gain on sales of investment securities 2,756 2,180 0
Income on investment in bank-owned life insurance 657 824 846
Mortgage banking income (loss) 296 103 (21)
Other than temporary impairment of securities (116) (482) (372)
Other income 474 533 227
TOTAL NON-INTEREST INCOME 18,156 22,138 24,843
NON-INTEREST EXPENSES:      
Salaries and employee benefits 28,244 29,538 28,626
Occupancy and equipment expense 8,242 8,380 6,893
Data processing 1,536 1,453 1,397
Amortization of core deposit intangible 1,174 1,280 1,240
Communications expense 1,658 1,793 1,471
FDIC assessment expense 3,475 4,366 4,052
Acquisition related costs 0 0 2,590
Other professional fees 1,380 1,258 656
Loan collection costs 1,595 1,210 1,232
Goodwill impairment 4,944 0 61,566
Net cost of operation of other real estate 5,068 3,927 1,558
Loss (gain) on sale and impairment of fixed assets 1,494 55 71
Other expenses 9,466 10,599 12,696
TOTAL NON-INTEREST EXPENSES 68,276 63,859 124,048
INCOME (LOSS) BEFORE INCOME TAXES (7,701) (1,401) (83,933)
INCOME TAX EXPENSE (BENEFIT) 6,694 (1,389) (8,876)
NET LOSS (14,395) (12) (75,057)
Preferred stock dividend and accretion of preferred stock discount 2,987 3,181 2,435
NET LOSS TO COMMON SHAREHOLDERS $ (17,382) $ (3,193) $ (77,492)
NET LOSS PER COMMON SHARE:      
Basic $ (0.95) $ (0.20) $ (5.23)
Diluted $ (0.95) $ (0.20) $ (5.23)
CASH DIVIDENDS PER COMMON SHARE $ 0.00 $ 0.00 $ 0.12