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Condensed Consolidated Statements of Income and Other Comprehensive Income (unaudited) (USD $)
In Thousands, except 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, including loans held for sale $ 36,182 $ 35,165 $ 72,868 $ 70,316
Interest and dividends on securities        
Taxable 2,751 2,394 5,033 4,608
Tax exempt 412 394 808 818
Interest and dividends on Federal Reserve and Federal Home Loan Bank stock 357 343 713 962
Other, including interest on federal funds sold 139 148 279 237
Total interest income 39,841 38,444 79,701 76,941
Interest expense:        
Interest on deposits 5,511 7,637 11,341 15,233
Interest on repurchase agreements and other short-term borrowings 426 512 854 1,047
Interest on advances from Federal Home Loan Bank 26 17 54 38
Interest on long-term debt 1,000 1,000 2,000 2,000
Total interest expense 6,963 9,166 14,249 18,318
Net interest income 32,878 29,278 65,452 58,623
Provision for loan losses 3,320 3,106 7,707 8,828
Net interest income after provision for loan losses 29,558 26,172 57,745 49,795
Noninterest income:        
Service charges on deposit accounts 6,438 5,949 12,318 11,246
Gains on sales of loans, net 347 337 728 779
Trust income 1,577 1,458 3,193 2,882
Loan related fees 476 46 1,359 886
Bank owned life insurance 426 407 836 812
Other noninterest income 1,329 1,345 2,897 2,678
Total noninterest income 10,593 9,542 21,331 19,283
Noninterest expense:        
Officer salaries and employee benefits 2,337 1,945 4,510 3,847
Other salaries and employee benefits 10,380 9,687 20,291 19,230
Occupancy, net 1,933 1,742 4,030 3,483
Equipment 905 959 1,773 1,942
Data processing 1,650 1,697 3,442 3,283
Bank franchise tax 1,119 977 2,283 1,955
Legal fees 570 688 1,500 1,281
Professional fees 279 326 685 557
FDIC insurance 839 1,140 1,963 2,139
Other real estate owned provision and expense (2,186) (606) (3,032) (1,478)
Other noninterest expense 4,948 3,888 10,184 7,901
Total noninterest expense 27,146 23,655 53,693 47,096
Income before income taxes 13,005 12,059 25,383 21,982
Income taxes 4,035 3,506 7,109 6,638
Net income 8,970 8,553 18,274 15,344
Other comprehensive income, net of tax:        
Unrealized holding gains on securities available-for-sale 2,978 964 3,646 1,281
Comprehensive income $ 11,948 $ 9,517 $ 21,920 $ 16,625
Basic earnings per share (in dollars per share) $ 0.59 $ 0.56 $ 1.19 $ 1.01
Diluted earnings per share (in dollars per share) $ 0.58 $ 0.56 $ 1.19 $ 1.01
Weighted average shares outstanding-basic (in shares) 15,308 15,228 15,301 15,215
Weighted average shares outstanding-diluted (in shares) 15,332 15,305 15,328 15,252
Dividends declared per share (in dollars per share) $ 0.305 $ 0.300 $ 0.610 $ 0.600