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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Cash and due from banks $ 41,136 $ 35,358
Interest bearing deposits with other banks 125,945 176,047
Total cash and cash equivalents 167,081 211,405
Securities available for sale (at fair value) 648,362 435,140
Securities held for investment (fair values: $20,487 in 2011 and $26,853 in 2010) 19,977 26,861
Total securities 668,339 462,001
Loans available for sale 6,795 12,519
Loans, net of deferred costs of $1,632 in 2011 and $973 in 2010 1,208,074 1,240,608
Less: Allowance for loan losses (25,565) (37,744)
Net loans 1,182,509 1,202,864
Bank premises and equipment, net 34,227 36,045
Other real estate owned 20,946 25,697
Other intangible assets 2,289 3,137
Other assets 55,189 62,713
TOTAL ASSETS 2,137,375 2,016,381
LIABILITIES    
Demand deposits (noninterest bearing) 328,356 289,621
NOW 469,631 401,005
Savings deposits 133,578 113,082
Money market accounts 319,152 298,538
Other time deposits 244,886 281,681
Brokered time certificates 4,558 7,093
Time certificates of $100,000 or more 218,580 246,208
Total deposits 1,718,741 1,637,228
Federal funds purchased and securities sold under agreement to repurchase, maturing within 30 days 136,252 98,213
Borrowed funds 50,000 50,000
Subordinated debt 53,610 53,610
Other liabilities 8,695 11,031
Total liabilities 1,967,298 1,850,082
Commitments and Contingencies (Notes K and P)      
SHAREHOLDERS' EQUITY    
Series A preferred stock, par value $0.10 per share - authorized 4,000,000 shares, issued and outstanding 2,000 shares of Series A 47,497 46,248
Warrant for purchase of 589,625 shares of common stock at $6.36 per share 3,123 3,123
Common stock, par value $.10 per share authorized 300,000,000 shares, issued 94,693,002 and outstanding 94,686,801 shares in 2011 and authorized 300,000,000 shares, issued 93,487,652 and outstanding 93,487,581 shares in 2010 9,469 9,349
Additional paid-in capital 218,925 218,399
Accumulated deficit (114,152) (112,652)
Less: Treasury stock (6,201 shares in 2011 and 71 shares in 2010), at cost (13) (1)
Total shareholders' equity 164,849 164,466
Accumulated other comprehensive income, net 5,228 1,833
TOTAL SHAREHOLDERS' EQUITY 170,077 166,299
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 2,137,375 $ 2,016,381