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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest Income        
Interest and fees on loans $ 13,969 $ 14,084 $ 41,135 $ 43,587
Interest on investment securities        
Taxable 2,975 3,061 8,546 9,994
Tax exempt 196 186 576 571
Interest bearing bank balances and federal funds sold 2 10 15 30
Total interest income 17,142 17,341 50,272 54,182
Interest Expense        
Deposits 737 1,088 2,247 4,217
Borrowings from the Federal Home Loan Bank 271 232 768 760
Other borrowings 338 343 994 1,032
Total interest expense 1,346 1,663 4,009 6,009
Net interest income 15,796 15,678 46,263 48,173
Provision for credit losses 33 28,881 2,049 34,684
Net interest income after provision for credit losses 15,763 (13,203) 44,214 13,489
Noninterest Income        
Retail banking 2,614 2,308 7,592 6,888
Mortgage banking services 302 732 1,347 1,848
Wealth management services 682 645 1,932 1,800
Gain on sales of investment securities 458 3 736 3
Bank-owned life insurance 317 326 1,107 1,171
Other 124 171 671 468
Total noninterest income 4,497 4,185 13,385 12,178
Noninterest Expense        
Personnel 8,052 7,513 23,387 21,800
Occupancy 1,034 2,155 3,073 4,183
Furniture and equipment 840 832 2,510 2,495
Technology and data processing 1,032 1,039 3,071 3,074
Legal and professional 603 858 2,031 2,219
FDIC insurance 444 444 1,329 1,326
Real estate acquired in settlement of loans 152 11,066 (285) 15,573
Other 2,254 3,225 6,878 7,786
Total noninterest expense 14,411 27,132 41,994 58,456
Income (Loss) before income taxes 5,849 (36,150) 15,605 (32,789)
Income tax expense (benefit) 2,861 (3,700) (3,740) (2,771)
Net Income (Loss) 2,988 (32,450) 19,345 (30,018)
Dividends and accretion on preferred stock (208) (729) (1,616) (2,188)
Net Income (Loss) available to common shareholders $ 2,780 $ (33,179) $ 17,729 $ (32,206)
Earnings per share        
Basic (in dollar per share) $ 0.10 $ (2.12) $ 0.68 $ (2.06)
Diluted (in dollar per share) $ 0.10 $ (2.12) $ 0.61 $ (2.06)
Weighted average shares outstanding        
Basic (in shares) 28,478,316 15,655,868 26,025,601 15,655,868
Diluted (in shares) 28,572,565 15,655,868 29,203,192 15,655,868