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CONSOLIDATED STATEMENTS OF INCOME (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:        
Interest and fees on loans $ 29,173 $ 35,544 $ 59,681 $ 71,580
Interest and dividends on investment securities:        
Taxable interest income 4,023 3,696 7,712 7,601
Non-taxable interest income 677 744 1,382 1,496
Dividends     4  
Total interest income 33,873 39,984 68,779 80,677
Interest expense:        
Deposits 4,820 9,259 10,079 19,210
Securities sold under agreements to repurchase 100 148 211 311
Short-term borrowings 10 3 20 3
Long-term debt 486 790 982 1,684
Junior subordinated debt owed to unconsolidated trusts 616 684 1,299 1,364
Total interest expense 6,032 10,884 12,591 22,572
Net interest income 27,841 29,100 56,188 58,105
Provision for loan losses 5,000 7,500 10,000 22,200
Net interest income after provision for loan losses 22,841 21,600 46,188 35,905
Other income:        
Trust fees 3,757 3,435 8,305 7,645
Commissions and brokers' fees, net 479 471 920 911
Remittance processing 2,403 2,233 4,784 4,853
Service charges on deposit accounts 3,183 2,728 6,230 5,461
Other service charges and fees 1,340 1,293 2,622 2,503
Gain on sales of loans 1,835 3,442 4,467 5,880
Security (losses) gains, net     (2) 742
Other 749 802 1,959 2,703
Total other income 13,746 14,404 29,285 30,698
Other expenses:        
Salaries and wages 10,028 10,068 19,588 19,734
Employee benefits 2,506 2,543 5,265 5,182
Net occupancy expense of premises 2,136 2,231 4,551 4,573
Furniture and equipment expense 1,340 1,578 2,664 3,109
Data processing 2,170 1,951 4,280 3,847
Amortization of intangible assets 884 1,022 1,768 2,045
Regulatory expense 1,308 2,040 3,155 3,503
OREO expense 135 670 347 1,063
Other 4,678 5,564 9,232 9,824
Total other expenses 25,185 27,667 50,850 52,880
Income before income taxes 11,402 8,337 24,623 13,723
Income taxes 3,955 2,652 8,066 3,821
Net income 7,447 5,685 16,557 9,902
Preferred stock dividends and discount accretion 1,283 1,283 3,059 2,565
Net income available to common stockholders $ 6,164 $ 4,402 $ 13,498 $ 7,337
Basic earnings per common share (in dollars per share) $ 0.07 $ 0.07 $ 0.16 $ 0.11
Diluted earnings per common share (in dollars per share) $ 0.07 $ 0.07 $ 0.16 $ 0.11
Dividends declared per share of common stock (in dollars per share) $ 0.04 $ 0.04 $ 0.08 $ 0.08