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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest Income:    
Loans, including fees$ 28,641$ 26,557$ 82,914$ 81,248
Securities:    
Taxable2,7783,3548,87510,601
Exempt from Federal income taxes9891,3213,3004,652
Federal funds sold244573123
Deposits in banks154260519519
Total interest income32,58631,53795,68197,143
Interest Expense:    
Deposits2,2263,0256,7909,679
Securities sold under repurchase agreements and other short-term borrowings6869172217
Other borrowings2541,1901,5994,128
Total interest expense2,5484,2848,56114,024
Net Interest Income30,03827,25387,12083,119
Provision for loan losses2,5366,5729,53340,702
Net interest income after provision for loan losses27,50220,68177,58742,417
Non Interest Income:    
Service charges1,6711,6045,2635,019
Investment advisory fees2,6392,1627,9986,676
Recognized impairment charge on securities available for sale (includes $361 of total losses and$172 of total gains in 2011 and 2010, respectively, less $242 of losses and $247 of gains on securities available for sale, recognized in other comprehensive income in 2011 and 2010, respectively)(119)(75)(323)(2,358)
Realized gains on securities available for sale, net8758150
Gains (losses) on sales and revaluation of loans held for sale and other real estate owned, net946(550)73(1,974)
Other income5696271,7451,807
Total non interest income5,7143,84314,7649,320
Non Interest Expense:    
Salaries and employee benefits11,2969,48333,37728,863
Occupancy2,2172,1086,7646,204
Professional services1,7001,2394,9024,103
Equipment1,1011,0053,2182,940
Business development4524801,5481,590
FDIC assessment5531,2462,3503,521
Other operating expenses2,7712,8619,0297,793
Total non interest expense20,09018,42261,18855,014
Income (Loss) Before Income Taxes13,1266,10231,163(3,277)
Income Taxes (Benefit)4,6182,03110,399(1,248)
Net Income$ 8,508$ 4,071$ 20,764$ (2,029)
Basic Earnings Per Common Share$ 0.48$ 0.23$ 1.17$ (0.12)
Diluted Earnings Per Common Share$ 0.48$ 0.23$ 1.17$ (0.12)