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CONSOLIDATED STATEMENTS OF INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
INTEREST INCOME:      
Interest and fees on loans $ 80,237 $ 88,409 $ 100,356
Interest on taxable investment securities 16,177 14,493 8,646
Interest on nontaxable investment securities 2,074 2,175 2,776
Interest on deposits in other banks 184 493 366
Interest on federal funds sold 3 6 6
Total interest income 98,675 105,576 112,150
INTEREST EXPENSE:      
Savings, interest bearing demand deposits and money market 2,074 4,664 9,684
Time deposits 2,899 7,466 14,758
Short-term borrowings 1,004 494 806
Long-term borrowings 3,626 6,176 6,693
Borrowings prepayment charge 7,140 2,326 0
Junior subordinated debentures 1,178 1,143 1,482
Total interest expense 17,921 22,269 33,423
Net interest income 80,754 83,307 78,727
Provision for credit losses 8,133 18,652 90,057
Net interest income (loss) after provision for credit losses 72,621 64,655 (11,330)
NONINTEREST INCOME:      
Service charges on deposit accounts 13,353 15,690 15,765
Payment systems related revenue 12,381 11,393 9,399
Trust and investment services revenue 4,503 4,267 4,101
Gains on sales of loans 1,335 1,197 1,738
Other real estate owned valuation adjustments and (loss) gain on sales (3,236) (4,415) (26,953)
Gain (loss) on securities, net:      
Gains on sales of securities, net 713 1,562 833
Other-than-temporary impairment losses on securities (1,636) 0 (6,738)
Portion of other-than-temporary, non-credit related losses recognized in other comprehensive income 1,457 0 6,546
Total net gains on securities 534 1,562 641
Other noninterest income 2,949 3,003 4,438
Total noninterest income 31,819 32,697 9,129
NONINTEREST EXPENSE:      
Salaries and employee benefits 48,587 45,854 44,608
Equipment 6,113 6,247 8,120
Occupancy 8,674 8,894 9,585
Payment systems related expense 5,141 4,727 4,036
Professional fees 4,118 3,991 4,342
Postage, printing and office supplies 3,265 3,148 3,201
Marketing 3,003 3,086 2,990
Communications 1,549 1,525 1,574
Goodwill impairment 0 0 13,059
Other noninterest expense 10,425 12,865 16,773
Total noninterest expense 90,875 90,337 108,288
INCOME (LOSS) BEFORE INCOME TAXES 13,565 7,015 (110,489)
PROVISION (BENEFIT) FOR INCOME TAXES (20,212) 3,790 (19,276)
NET INCOME (LOSS) $ 33,777 $ 3,225 $ (91,213)
Basic earnings (loss) per share (in dollars per share) $ 1.65 $ 0.16 $ (29.15)
Diluted earnings (loss) per share (in dollars per share) $ 1.58 $ 0.16 $ (29.15)
Weighted average common shares (in shares) 19,007 17,460 3,102
Weighted average diluted shares (in shares) 19,940 18,059 3,102