XML 14 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Operations and Comprehensive Income/(Loss) (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 $ 32,876 $ 28,187 $ 61,847 $ 53,343
Interest on taxable securities 2,574 2,502 5,232 4,964
Interest on nontaxable securities 314 299 634 603
Interest on deposits in other banks and federal funds sold 159 109 347 178
Total interest income 35,923 31,097 68,060 59,088
Interest expense        
Interest on deposits 6,828 7,084 14,200 14,416
Interest on other borrowings 351 154 906 400
Total interest expense 7,176 7,238 15,106 14,816
Net interest income 28,747 23,859 52,954 44,272
Provision for loan losses 9,115 18,608 16,158 29,378
Net interest income after provision for loan losses 19,632 5,251 36,796 14,894
Noninterest income        
Service charges on deposit accounts 4,665 3,620 8,932 7,059
Mortgage banking activity 376 675 826 1,229
Other service charges, commissions and fees 273 232 515 445
Gain on acquisitions   8,208   8,208
Gain/(loss) on sale of securities 14   238 200
Other noninterest income 646 314 1,656 793
Total noninterest income 5,974 13,049 12,167 17,934
Noninterest expense        
Salaries and employee benefits 9,421 8,027 19,264 15,853
Equipment and occupancy expenses 2,752 2,025 5,482 4,052
Amortization of intangible assets 242 186 505 457
Data processing and telecommunications expenses 2,452 2,077 4,848 3,840
Advertising and marketing expenses 149 143 312 302
Other non-interest expenses 7,580 10,925 13,340 15,810
Total noninterest expense 22,596 23,383 43,751 40,314
Income (loss) before income tax expense (benefit) 3,010 (5,083) 5,212 (7,486)
Applicable income tax expense (benefit) 896 (1,664) 1,720 (2,533)
Net income (loss) 2,114 (3,419) 3,492 (4,953)
Preferred stock dividends 807 799 1,605 1,595
Net income (loss) available to common shareholders 1,307 (4,218) 1,887 (6,548)
Other comprehensive income (loss)        
Unrealized holding gain arising during period on investment securities available for sale, net of tax 2,250 374 1,988 1,073
Unrealized loss on cash flow hedges arising during period , net of tax (574) (216) (628) (349)
Reclassification adjustment for gains included in net loss, net of tax (8)   (154) (130)
Other comprehensive income/(loss) 1,668 158 1,206 594
Total comprehensive income/(loss) $ 2,975 $ (4,060) $ 3,093 $ (5,954)
Basic and Diluted earnings/(loss) per share $ 0.06 $ (0.20) $ 0.08 $ (0.37)
Weighted Average Common Shares Outstanding        
Basic 23,449 21,231 23,445 17,569
Diluted 23,508 21,231 23,491 17,569