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Consolidated Statement of Operations - Unaudited (USD $)
In Thousands, except Per 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:        
Loans receivable, including fees $ 17,350 $ 10,176 $ 32,973 $ 19,678
Loans receivable, non-taxable, including fees 41 22 55 45
Investment securities, taxable 2,219 4,351 5,131 6,368
Investment securities, non-taxable 21 22 43 43
Other 69 75 134 313
Total interest income 19,700 14,646 38,336 26,447
Interest expense:        
Deposits 5,424 5,646 10,496 11,096
Federal funds purchased 1 0 3 0
Securities sold under repurchase agreements 0 7 0 7
Borrowed funds 106 121 240 210
Subordinated debt 17 16 35 33
Total interest expense 5,548 5,790 10,774 11,346
Net interest income 14,152 8,856 27,562 15,101
Provision for loan and lease losses 2,738 2,850 4,538 5,650
Net interest income after provision for loan and lease losses 11,414 6,006 23,024 9,451
Non-interest income:        
Deposit fees 117 94 233 198
Loan fees 9 66 201 146
Mortgage warehouse transactional fees 3,384 1,277 5,483 2,388
Bank owned life insurance 323 263 589 864
Gain on sale of investment securities 8,797 0 9,006 0
Accretion of FDIC loss sharing receivable 0 800 655 1,709
Loss on sale of other real estate owned (660) 0 (601) 0
Gain on sale of loans 339 0 339 78
Gain on sale of repossessed assets 59 0 59 0
Gain on sale of bank premises and equipment 22 0 22 0
Other 247 142 443 533
Total non-interest income 12,637 2,642 16,429 5,916
Non-interest expense:        
Salaries and employee benefits 5,598 3,973 11,095 8,088
Occupancy 1,849 1,004 3,228 1,991
Technology, communication and bank operations 691 513 1,338 826
Advertising and promotion 301 205 576 433
Professional services 769 1,304 1,655 2,730
FDIC assessments, taxes, and regulatory fees 867 431 1,536 1,253
Loan workout and other real estate owned 651 415 1,176 799
Impairment and losses on other real estate owned 0 15 0 211
Merger related expenses 0 0 28 0
Stock offering expenses 1,340 0 1,340 0
Other 1,907 578 2,688 1,198
Total non-interest expense 13,973 8,438 24,660 17,529
Income (loss) before tax expense (benefit) 10,078 210 14,793 (2,162)
Income tax expense (benefit) 3,574 65 5,177 (631)
Net income (loss) $ 6,504 $ 145 $ 9,616 $ (1,531)
Basic income (loss) per share $ 0.57 $ 0.01 $ 0.85 $ (0.16)
Diluted income (loss) per share $ 0.56 $ 0.01 $ 0.83 $ (0.16)