Summary of Quarterly Statements of Income (Unaudited)

12 Months Ended

Dec. 31, 2011

Summary of Quarterly Statements of Income (Unaudited) [Abstract]

SUMMARY OF QUARTERLY STATEMENTS OF INCOME (UNAUDITED)

NOTE 24 — SUMMARY OF QUARTERLY STATEMENTS OF INCOME (UNAUDITED)

The following quarterly information is unaudited. However, in the opinion of management, the information reflects all adjustments that are necessary for the fair presentation of the results of operations for the periods presented.

	2011
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
	(In thousands, except per share data)
Interest income	$	53,675	$	53,439	$	53,998	$	54,130	$	215,242
Interest expense		8,470		8,145		7,729		7,045		31,389
Net interest income		45,205		45,294		46,269		47,085		183,853
Provision for loan losses		7,500		7,000		6,400		5,100		26,000
Noninterest income		10,772		10,902		11,225		11,501		44,400
Operating expenses		35,389		33,413		35,394		37,807		142,003
Income before income taxes		13,088		15,783		15,700		15,679		60,250
Federal income tax expense		3,900		4,750		4,075		4,475		17,200
Net income	$	9,188	$	11,033	$	11,625	$	11,204	$	43,050
Net income per common share:
Basic	$	0.33	$	0.40	$	0.42	$	0.41	$	1.57
Diluted		0.33		0.40		0.42		0.41		1.57

	2010 (1)
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
	(In thousands, except per share data)
Interest income	$	46,122	$	52,962	$	55,998	$	55,348	$	210,430
Interest expense		9,734		10,071		10,105		9,400		39,310
Net interest income		36,388		42,891		45,893		45,948		171,120
Provision for loan losses		14,000		12,700		8,600		10,300		45,600
Noninterest income		9,440		11,000		11,119		10,913		42,472
Operating expenses		29,189		34,650		36,216		36,747		136,802
Income before income taxes		2,639		6,541		12,196		9,814		31,190
Federal income tax expense		350		2,150		3,325		2,275		8,100
Net income	$	2,289	$	4,391	$	8,871	$	7,539	$	23,090
Net income per common share:
Basic	$	0.10	$	0.17	$	0.32	$	0.27	$	0.88
Diluted		0.10		0.17		0.32		0.27		0.88

(1) On April 30, 2010, the Corporation acquired 100% of OAK for total consideration of $83.7 million. The total consideration consisted of the issuance of approximately 3.5 million shares of the Corporation’s common stock with a total value of $83.7 million at the acquisition date, the exchange of 26,425 stock options for the outstanding vested stock options of OAK with a value of the exchange equal to approximately $41,000 at the acquisition date, and approximately $8,000 of cash in lieu of fractional shares. At the acquisition date, OAK had $820 million in total assets, $627 million of loans and $693 million of total deposits.