XML 42 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and fees on loans $ 61,783 $ 70,071 $ 76,614
Interest on investment securities:      
Taxable 14,387 16,565 20,424
Nontaxable 1,938 2,835 3,570
Interest on deposits in other banks 237 272 278
Interest on federal funds sold and securities purchased under agreements to resell 4 8 24
Total interest income 78,349 89,751 100,910
Interest on deposits 14,488 22,373 33,197
Interest on federal funds purchased and other short-term borrowings 191 324 453
Interest on subordinated notes payable to unconsolidated trusts 2,026 2,035 2,178
Interest on securities sold under agreements to repurchase and other long-term borrowings 7,965 10,216 11,237
Total interest expense 24,670 34,948 47,065
Net interest income 53,679 54,803 53,845
Provision for loan losses 13,487 17,233 20,768
Net interest income after provision for loan losses 40,192 37,570 33,077
Service charges and fees on deposits 8,617 9,171 9,347
Allotment processing fees 5,346 5,573 5,403
Other service charges, commissions, and fees 4,248 4,566 4,414
Data processing income 792 1,328 1,317
Trust income 2,085 1,688 1,763
Investment securities gains, net 1,355 8,889 3,488
Gains on sale of mortgage loans, net 982 1,244 1,034
Income from company-owned life insurance 939 1,300 1,282
Other 27 351 121
Total noninterest income 24,391 34,110 28,169
Salaries and employee benefits 26,986 27,026 29,816
Occupancy expenses, net 4,846 4,849 4,991
Equipment expenses 2,503 2,647 3,075
Data processing and communications expenses 4,636 5,448 5,568
Bank franchise tax 2,572 2,482 2,265
Correspondent bank fees 376 618 1,009
Goodwill impairment     52,408
Amortization of intangibles 1,143 1,437 1,952
Deposit insurance expense 2,948 4,279 3,777
Other real estate expenses, net 7,355 6,054 2,074
Other 9,127 7,871 8,206
Total noninterest expense 62,492 62,711 115,141
Income (loss) before income taxes 2,091 8,969 (53,895)
Income tax (benefit) expense (647) 2,037 (9,153)
Net income (loss) 2,738 6,932 (44,742)
Dividends and accretion on preferred shares (1,896) (1,871) (1,802)
Net income (loss) available to common shareholders $ 842 $ 5,061 $ (46,544)
Per Common Share      
Net income (loss) – basic and diluted (in Dollars per share) $ 0.11 $ 0.68 $ (6.32)
Cash dividends declared (in Dollars per share)     $ 0.85
Weighted Average Shares Outstanding      
Basic and diluted (in Shares) 7,424 7,390 7,365