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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest income:        
Interest and fees on loans $ 49,471 $ 44,851 $ 91,768 $ 89,524
Interest and dividends on taxable investments 14,640 12,168 26,869 23,101
Interest and dividends on nontaxable investments 5,739 5,604 11,500 11,050
Total interest income 69,850 62,623 130,137 123,675
Interest expense:        
Interest on deposits 6,791 7,747 12,797 16,350
Interest on borrowings 7,389 7,446 14,680 15,149
Interest on subordinated debt held by unconsolidated subsidiary trusts 1,483 1,485 2,950 2,949
Total interest expense 15,663 16,678 30,427 34,448
Net interest income 54,187 45,945 99,710 89,227
Less: provision for loan losses 1,050 2,050 2,100 3,870
Net interest income after provision for loan losses 53,137 43,895 97,610 85,357
Noninterest income:        
Deposit service fees 10,488 11,337 20,173 21,856
Mortgage banking and other services 1,627 1,115 2,421 2,038
Benefit plan administration, consulting and actuarial fees 7,854 7,260 16,037 15,159
Wealth management services 2,782 2,666 4,962 5,042
Gain on investment securities & debt extinguishments, net 14 0 14 0
Total noninterest income 22,765 22,378 43,607 44,095
Operating expenses:        
Salaries and employee benefits 25,531 22,509 48,642 45,445
Occupancy and equipment 6,253 5,614 12,310 11,839
Data processing and communications 5,179 5,309 9,949 10,423
Amortization of intangible assets 1,189 1,849 2,090 3,708
Legal and professional fees 1,307 1,505 2,646 2,805
Office supplies and postage 1,377 1,311 2,573 2,560
Business development and marketing 2,183 1,731 3,438 2,745
FDIC insurance premiums 1,177 1,485 2,538 3,057
Acquisition expenses 3,617 199 4,308 199
Other 3,313 2,708 5,948 5,632
Total operating expenses 51,126 44,220 94,442 88,413
Income before income taxes 24,776 22,053 46,775 41,039
Income taxes 6,790 5,891 12,629 10,875
Net income $ 17,986 $ 16,162 $ 34,146 $ 30,164
Basic earnings per share (in dollars per share) $ 0.49 $ 0.49 $ 0.97 $ 0.91
Diluted earnings per share (in dollars per share) $ 0.49 $ 0.48 $ 0.96 $ 0.90
Dividends declared per share (in dollars per share) $ 0.24 $ 0.24 $ 0.48 $ 0.46