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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
INTEREST INCOME:        
Interest and fees on loans $ 18,706 $ 20,060 $ 56,614 $ 60,590
Interest on taxable investment securities 3,439 4,092 10,647 12,437
Interest on nontaxable investment securities 546 534 1,547 1,548
Interest on deposits in other banks 35 35 91 166
Interest on federal funds sold 0 0 1 2
Total interest income 22,726 24,721 68,900 74,743
INTEREST EXPENSE:        
Savings, interest bearing demand deposits and money market 183 392 560 1,846
Time deposits 202 594 833 2,425
Short-term borrowings 37 282 42 328
Long-term borrowings 315 1,060 959 3,670
Borrowings prepayment charge 0 2,775 0 2,775
Junior subordinated debentures 302 277 913 885
Total interest expense 1,039 5,380 3,307 11,929
Net interest income 21,687 19,341 65,593 62,814
Provision (benefit) for credit losses (593) 1,132 (996) 6,634
Net interest income after provision for credit losses 22,280 18,209 66,589 56,180
NONINTEREST INCOME:        
Service charges on deposit accounts 3,017 3,129 9,047 10,348
Payment systems related revenue 3,073 3,201 9,230 9,300
Trust and investment services revenue 1,231 1,033 3,623 3,389
Gains on sales of loans 492 222 1,949 1,035
Other real estate owned valuation adjustments and (loss) gain on sales (457) (11) (2,061) (1,255)
Gain (loss) on securities, net:        
Gains on sales of securities 0 124 375 521
Other-than-temporary impairment losses on securities 0 0 (1,726) (1,636)
Portion of other-than-temporary, non-credit related losses recognized in other comprehensive income 0 0 1,677 1,457
Total net gains on securities 0 124 326 342
Other noninterest income 816 716 2,439 2,241
Total noninterest income 8,172 8,414 24,553 25,400
NONINTEREST EXPENSE:        
Salaries and employee benefits 11,499 11,977 35,058 35,973
Equipment 1,480 1,461 4,726 4,553
Occupancy 1,901 2,115 6,095 6,512
Payment systems related expense 1,148 1,279 3,342 3,876
Professional fees 777 1,038 2,948 2,996
Postage, printing and office supplies 735 772 2,283 2,444
Marketing 520 862 1,087 2,344
Communications 411 387 1,210 1,154
Merger expenses 578 0 578 0
Other noninterest expense 2,258 2,729 6,481 8,279
Total noninterest expense 21,307 22,620 63,808 68,131
INCOME BEFORE INCOME TAXES 9,145 4,003 27,334 13,449
PROVISION (BENEFIT) FOR INCOME TAXES 3,201 (2,273) 9,567 (2,566)
NET INCOME $ 5,944 $ 6,276 $ 17,767 $ 16,015
Basic earnings per share (in dollars per share) $ 0.29 $ 0.31 $ 0.87 $ 0.78
Diluted earnings per share (in dollars per share) $ 0.27 $ 0.29 $ 0.82 $ 0.75
Weighted average common shares (in shares) 19,110 19,029 19,077 18,999
Weighted average diluted shares (in shares) 20,344 19,880 20,225 19,951