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Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except 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:        
Interest on Loans $ 44,251 $ 43,763 $ 131,142 $ 130,917
Taxable Interest and Dividends on Securities 3,995 4,929 12,938 15,779
Nontaxable Interest and Dividends on Securities 20 78 72 286
Interest on Loans Held for Sale 255 116 541 305
Interest on Federal Funds Sold 34 49 85 80
TOTAL INTEREST AND DIVIDEND INCOME 48,555 48,935 144,778 147,367
INTEREST EXPENSE:        
Interest on Deposits 2,619 3,419 8,045 10,448
Interest on Borrowings 3,098 3,842 9,413 11,696
TOTAL INTEREST EXPENSE 5,717 7,261 17,458 22,144
NET INTEREST INCOME 42,838 41,674 127,320 125,223
PROVISION FOR LOAN LOSSES 3,606 2,000 13,706 7,682
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 39,232 39,674 113,614 117,541
NONINTEREST INCOME:        
Service Charges on Deposit Accounts 3,959 4,223 11,771 12,374
Interchange and ATM Fees 2,422 2,005 7,189 5,681
Investment Management 3,723 3,491 11,113 10,310
Mortgage Banking Income 1,445 907 4,238 2,637
Increase in Cash Surrender Value of Life Insurance Policies 757 757 2,211 2,323
Proceeds from Life Insurance Policies 1,307 0 1,307 0
Loan Level Derivative Income 1,047 295 2,747 1,241
Net Gain on Sales of Securities          723
Gross Change on OTTI securities 403 (318) 571 101
Less: Portion of OTTI Losses Recognized in OCI (403) 290 (647) (305)
Net Impairment Losses Recognized in Earnings on Securities    (28) (76) (204)
Other Noninterest Income 1,448 665 4,500 3,301
TOTAL NONINTEREST INCOME 16,108 12,315 45,000 38,386
NONINTEREST EXPENSES:        
Salaries and Employee Benefits 20,704 20,568 61,915 60,582
Occupancy and Equipment Expenses 4,218 4,107 12,752 12,946
Goodwill Impairment 2,227    2,227   
Advertising Expense 1,267 703 3,478 3,247
Data Processing & Facilities Management 1,144 1,152 3,418 3,828
FDIC Assessment 775 691 2,354 2,760
Consulting Expense 691 685 1,900 1,715
Merger and Acquisition Expenses 595    1,267   
Legal Fees 503 580 1,598 1,647
Telecommunications 479 522 1,763 1,584
Other Non-Interest Expenses 7,449 6,415 21,738 20,451
TOTAL NONINTEREST EXPENSES 40,052 35,423 114,410 108,760
INCOME BEFORE INCOME TAXES 15,288 16,566 44,204 47,167
PROVISION FOR INCOME TAXES 3,687 4,607 11,546 12,900
NET INCOME $ 11,601 $ 11,959 $ 32,658 $ 34,267
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.54 $ 0.56 $ 1.51 $ 1.60
DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.53 $ 0.56 $ 1.51 $ 1.60
WEIGHTED AVERAGE COMMON SHARES (BASIC) (in shares) 21,654,188 21,463,714 21,613,157 21,401,885
COMMON SHARE EQUIVALENTS (in shares) 52,116 13,077 31,300 32,452
WEIGHTED AVERAGE COMMON SHARES (DILUTED) (in shares) 21,706,304 21,476,791 21,644,457 21,434,337
CASH DIVIDENDS DECLARED PER COMMON SHARE (in shares) $ 0.21 $ 0.19 $ 0.63 $ 0.57