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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Interest income:      
Interest and fees on loans $ 55,005 $ 60,201 $ 62,070
Interest on loans held for sale 767 275 232
Taxable investments 5,682 6,745 7,616
Tax-exempt investments 1,292 1,252 1,549
Federal funds sold 30 63 82
Interest bearing bank balances 146 179 143
Total interest income 62,922 68,715 71,692
Interest expense:      
Deposits 8,627 13,501 18,809
Federal funds purchased and repurchase agreements 21 36 66
Other borrowings 1,704 1,979 3,024
Junior subordinated debt 1,177 1,335 1,992
Total interest expense 11,529 16,851 23,891
Net interest income 51,393 51,864 47,801
Provision for loan losses 8,520 9,720 9,220
Net interest income after provision for loan losses 42,873 42,144 38,581
Noninterest income:      
Deposit account income 10,180 10,293 10,221
Mortgage banking income 5,304 1,821 1,581
Agency commission income 3,486 3,636 3,809
Trust and brokerage income 587 584 526
Bank owned life insurance income 696 638 667
Other income 2,017 2,464 1,865
Securities gains, net 557 2,769 2,255
Total investment other-than-temporary impairment losses (8) (368) (435)
Portion of loss recognized in (reclassified from) other comprehensive income (before taxes) (21) (263) 32
Net investment impairment losses recognized (29) (631) (403)
Total noninterest income 22,798 21,574 20,521
Noninterest expenses:      
Salaries and employee benefits 26,887 28,469 27,303
Net occupancy expenses 3,554 3,935 3,937
Equipment expenses 1,726 1,871 2,382
Software and processing expenses 1,428 1,540 1,627
Telecommunication expenses 913 909 980
Marketing and business development expenses 1,071 1,139 1,014
Foreclosed property expenses 5,186 7,351 2,946
FDIC insurance assessments 1,911 2,426 3,261
Intangible asset amortization 427 427 426
Other expenses 13,175 10,267 10,614
Total noninterest expenses 56,278 58,334 54,490
Income before income taxes 9,393 5,384 4,612
Income tax expense 2,408 1,011 602
Net income 6,985 4,373 4,010
Net loss attributable to noncontrolling interests 0 0 (1)
Net income attributable to First M&F Corporation 6,985 4,373 4,011
Dividends and accretion on preferred stock 1,901 1,774 1,692
Add: Gain on exchange of preferred stock 0 0 12,867
Net income applicable to common stock 5,084 2,599 15,186
Net income allocated to common shareholders $ 4,919 $ 2,584 $ 15,071
Earnings per share:      
Basic (per share) $ 0.54 $ 0.28 $ 1.66
Diluted (per share) $ 0.54 $ 0.28 $ 1.66