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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest income        
Interest and fees on loans $ 30,334 $ 32,876 $ 59,816 $ 61,847
Interest on taxable securities 2,187 2,574 4,496 5,232
Interest on nontaxable securities 374 314 739 634
Interest on deposits in other banks and federal funds sold 112 159 238 347
Total interest income 33,007 35,923 65,289 68,060
Interest expense        
Interest on deposits 3,635 6,828 7,719 14,200
Interest on other borrowings 491 351 962 906
Total interest expense 4,126 7,179 8,681 15,106
Net interest income 28,881 28,747 56,608 52,954
Provision for loan losses 7,225 9,115 20,107 16,158
Net interest income after provision for loan losses 21,656 19,632 36,501 36,796
Noninterest income        
Service charges on deposit accounts 4,770 4,665 9,156 8,932
Mortgage banking activity 3,006 376 4,481 826
Other service charges, commissions and fees 322 273 713 515
Gain on acquisitions     20,037  
Gain on sale of securities   14   238
Other noninterest income 777 646 1,752 1,656
Total noninterest income 8,875 5,974 36,139 12,167
Noninterest expense        
Salaries and employee benefits 12,125 9,421 23,571 19,264
Equipment and occupancy expenses 2,880 2,752 6,215 5,482
Amortization of intangible assets 412 242 632 505
Data processing and telecommunications expenses 2,905 2,452 4,830 4,848
Advertising and marketing expenses 364 149 713 312
Other non-interest expenses 7,937 7,580 24,908 13,340
Total noninterest expense 26,623 22,596 60,869 43,751
Income before income tax expense 3,908 3,010 11,771 5,212
Applicable income tax expense 1,413 896 3,911 1,720
Net income 2,495 2,114 7,860 3,492
Preferred stock dividends 817 807 1,632 1,605
Net income available to common shareholders 1,678 1,307 6,228 1,887
Other comprehensive income        
Unrealized holding gain arising during period on investment securities available for sale, net of tax 1,934 2,250 1,244 1,988
Reclassification adjustment for gains included in net loss, net of tax   (8)   (154)
Unrealized loss on cash flow hedges arising during period, net of tax (642) (574) (736) (628)
Other comprehensive income 1,292 1,668 508 1,206
Comprehensive income $ 2,970 $ 2,975 $ 6,736 $ 3,093
Basic and Diluted earnings per share $ 0.07 $ 0.06 $ 0.26 $ 0.08
Weighted Average Common Shares Outstanding        
Basic 23,819 23,449 23,791 23,445
Diluted 23,973 23,508 23,945 23,491