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Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income    
Interest and fees on loans$ 12,638$ 15,234$ 39,801$ 46,595
Interest on investment securities: Taxable1,1279532,9225,356
Interest on investment securities: Exempt from federal income tax6308832,1822,689
Total investment income1,7571,8365,1048,045
Other88183327407
Total interest income14,48317,25345,23255,047
Interest expense    
Interest on deposits2,8214,6829,72413,904
Interest on short-term borrowings5068177207
Interest on long-term borrowings2,1872,6026,8888,205
Total interest expense5,0587,35216,78922,316
Net interest income9,4259,90128,44332,731
Provision for loan losses1,3343,4675,93910,653
Net interest income after provision for loan losses8,0916,43422,50422,078
Other operating income    
Changes in fair value on impaired securities(589)397204(10,401)
Portion of (gain)/loss recognized in other comprehensive income (before taxes)589(607)(223)2,126
Net securities impairment losses recognized in operations0(210)(19)(8,275)
Net losses -- other(793)(687)(125)(3,396)
Total net losses(793)(897)(144)(11,671)
Service charges9251,1192,7283,449
Trust department1,0949403,2372,978
Insurance commissions6486781,9362,003
Debit card income4864011,5981,198
Bank owned life insurance260255769754
Other2054579301,070
Total other income3,6183,85011,19811,452
Total other operating income/(loss)2,8252,95311,054(219)
Other operating expenses    
Salaries and employee benefits5,0275,38415,18516,321
FDIC premiums4319801,8183,054
Equipment7357382,3102,384
Occupancy7137672,1382,208
Data processing6556622,0421,966
Other2,5902,7017,6617,864
Total other operating expenses10,15111,23231,15433,797
Income/(Loss) before income tax expense/(benefit)765(1,845)2,404(11,938)
Applicable income tax expense/(benefit)79(2,167)(372)(6,233)
Net Income/(Loss)6863222,776(5,705)
Accumulated preferred stock dividends and discount accretion(404)(390)(1,198)(1,169)
Net Income Available to/(Loss Attributable to) Common Shareholders$ 282$ (68)$ 1,578$ (6,874)
Basic net income/(loss) per common share$ 0.05$ (0.01)$ 0.26$ (1.12)
Diluted net income/(loss) per common share$ 0.05$ (0.01)$ 0.26$ (1.12)
Dividends declared per common share$ 0$ 0.01$ 0$ 0.03
Weighted average number of basic and diluted shares outstanding6,1836,1606,1756,153