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CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (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        
Loans, including fees $ 21,332 $ 23,725 $ 42,752 $ 47,695
Securities 6,275 7,333 12,729 14,517
Other interest income 71 64 106 87
Total interest income 27,678 31,122 55,587 62,299
Interest expense        
Deposits 2,040 3,829 4,275 8,115
Federal Home Loan Bank advances 1,404 1,421 2,805 2,881
Subordinated debentures 456 437 922 866
Other borrowings 28 45 57 97
Total interest expense 3,928 5,732 8,059 11,959
Net interest income 23,750 25,390 47,528 50,340
Provision for loan losses 2,500 4,000 5,600 9,600
Net interest income after provision for loan losses 21,250 21,390 41,928 40,740
Non-interest income        
Mortgage banking 2,099 1,197 4,214 2,515
Trust and investment product fees 908 813 1,736 1,753
Service charges on deposit accounts 4,910 4,517 9,286 8,415
Net realized gains on securities 48 2,521 1,035 3,654
Other-than-temporary loss        
Total impairment loss 0   (500)  
Loss recognized in other comprehensive income 0   0  
Net impairment loss recognized in earnings 0   (500)  
Increase in cash surrender value of life insurance 280 303 567 594
Interchange income 1,732 1,564 3,382 2,980
Gain/(Loss) on sale and write-down of OREO 39 (196) (213) (561)
Other income 727 801 1,058 1,489
Total non-interest income 10,743 11,520 20,565 20,839
Non-interest expense        
Salaries and employee benefits 12,535 12,580 24,791 25,413
Net occupancy 1,684 1,648 3,346 3,415
Equipment 2,159 1,938 4,243 3,918
Intangibles amortization 448 492 900 984
Telecommunications 432 493 837 965
Stationery printing and supplies 355 385 672 799
FDIC assessment 512 907 1,420 2,168
Marketing 994 1,126 1,942 2,207
Collection expense 968 902 2,017 1,916
Consultant expense 250   250  
Other expenses 3,105 2,912 6,305 5,418
Total non-interest expense 23,442 23,383 46,723 47,203
Income before income tax 8,551 9,527 15,770 14,376
Income tax expense 1,569 1,901 2,777 2,204
Net income 6,982 7,626 12,993 12,172
Preferred dividends and discount accretion (473) (764) (1,236) (1,527)
Net income available to common shareholders 6,509 6,862 11,757 10,645
Net income 6,982 7,626 12,993 12,172
Other comprehensive income, net of tax: 2,824 3,063 2,785 5,902
Comprehensive income $ 9,806 $ 10,689 $ 15,778 $ 18,074
Cash dividends declared per common share (in dollars per share) $ 0.01 $ 0.01 $ 0.02 $ 0.02
Net income per common share-basic and diluted (in dollars per share) $ 0.32 $ 0.34 $ 0.58 $ 0.53