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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE 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        
Loans, including fees $ 20,843 $ 23,128 $ 63,595 $ 70,823
Securities 5,954 7,163 18,683 21,680
Other interest income 35 54 141 141
Total interest income 26,832 30,345 82,419 92,644
Interest expense        
Deposits 1,771 3,361 6,046 11,476
Federal Home Loan Bank advances 1,239 1,449 4,044 4,330
Subordinated debentures 460 430 1,382 1,296
Other borrowings 31 35 88 132
Total interest expense 3,501 5,275 11,560 17,234
Net interest income 23,331 25,070 70,859 75,410
Provision for loan losses 2,000 5,000 7,600 14,600
Net interest income after provision for loan losses 21,331 20,070 63,259 60,810
Non-interest income        
Mortgage banking 2,114 1,428 6,328 3,943
Trust and investment product fees 819 740 2,555 2,493
Service charges on deposit accounts 5,282 4,872 14,568 13,287
Net realized gains on securities 832 1,263 1,867 4,917
Other-than-temporary loss        
Total impairment loss     (500)  
Loss recognized in other comprehensive income 0   0  
Net impairment loss recognized in earnings     (500)  
Increase in cash surrender value of life insurance 293 309 860 903
Interchange income 1,582 1,642 4,964 4,622
Gain/(Loss) on sale and write-down of OREO (172) (651) (385) (1,212)
Other income 827 675 1,885 2,164
Total non-interest income 11,577 10,278 32,142 31,117
Non-interest expense        
Salaries and employee benefits 12,151 12,713 36,942 38,126
Net occupancy 1,762 1,616 5,108 5,031
Equipment 2,137 1,970 6,380 5,888
Intangibles amortization 445 493 1,345 1,477
Telecommunications 441 507 1,278 1,472
Stationery printing and supplies 321 358 993 1,157
FDIC assessment 542 898 1,962 3,066
Marketing 1,139 1,085 3,081 3,292
Prepayment penalty on FHLB advance 1,313   1,313  
Collection expense 821 1,298 2,838 3,214
Consultant expense 325   575  
Other expenses 3,006 2,967 9,311 8,385
Total non-interest expense 24,403 23,905 71,126 71,108
Income before income tax 8,505 6,443 24,275 20,819
Income tax expense 1,519 828 4,296 3,032
Net income 6,986 5,615 19,979 17,787
Preferred dividends and discount accretion (458) (763) (1,694) (2,290)
Redemption of preferred stock     1,302  
Net income available to common shareholders 6,528 4,852 19,587 15,497
Net income 6,986 5,615 19,979 17,787
Other comprehensive income:        
Unrealized holding gain arising during the period 4,594 17,165 9,415 29,900
Reclassification adjustment for (gains) included in net income (832) (1,263) (1,867) (4,917)
Reclassification adjustment for other than temporary loss included in net income     500  
Tax effect (1,317) (5,565) (2,818) (8,744)
Net of tax 2,445 10,337 5,230 16,239
Comprehensive income $ 9,431 $ 15,952 $ 25,209 $ 34,026
Cash dividends declared per common share (in dollars per share) $ 0.03 $ 0.01 $ 0.05 $ 0.03
Net income per common share - Basic (in dollars per share) $ 0.32 $ 0.24 $ 0.97 $ 0.77
Net income per common share - Diluted (in dollars per share) $ 0.32 $ 0.24 $ 0.96 $ 0.77