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UNAUDITED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income:    
Loans receivable, including fees$ 11,297$ 9,204$ 31,024$ 17,900
Investment Securities, taxable3,97311510,341933
Investment Securities, non-taxable22226588
Other117125515219
Total interest income15,4099,46641,94519,140
Interest expense:    
Deposits5,5643,11116,6606,656
Securities sold under repurchase agreements219228276
Other borrowings1111735349
Total interest expense5,6963,22017,0416,981
Net interest income9,7136,24624,90412,159
Provision for loan losses9004,0756,5509,547
Net interest income after provision for loan losses8,8132,17118,3542,612
Non-interest income:    
Service fees156266463456
Mortgage warehouse transactional fees1,3667803,7541,483
Bank owned life insurance264591,128175
Gains on sales of securities1,413351,4131,111
Gains on sales of SBA loans29903770
Bargain purchase gains on bank acquisitions040,254040,254
Accretion of FDIC loss sharing receivable01491,709149
Other93117402197
Total non-interest income3,59141,6609,24643,825
Non-interest expense:    
Salaries and employee benefits3,8667,55211,93010,773
Occupancy7496012,2361,234
Technology, communication and bank operations8291,0492,2991,759
Advertising and promotion206239639567
Professional services1,1777953,7851,493
Merger related expenses53005300
FDIC assessments, taxes, and regulatory fees3464631,5991,078
Loan workout and other real estate owned6955311,5571,174
Other7313121,915609
Total non-interest expense9,12911,54226,49018,687
Income before tax expense3,27532,2891,11027,750
Income tax expense9304,4552994,455
Net income2,34527,83481123,295
Dividends on preferred stock5050
Net income available to common stockholders$ 2,340$ 27,834$ 806$ 23,295
Basic earnings per common share$ 0.24$ 3.86$ 0.08$ 3.96
Diluted earnings per common share$ 0.23$ 3.81$ 0.08$ 3.92