XML 18 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME        
Interest on Loans $ 43,938 $ 44,785 $ 87,154 $ 88,832
Interest on Loans Held for Sale 70 110 189 216
Taxable Interest and Dividends on Securities 5,357 6,129 10,850 12,598
Non-taxable Interest and Dividends on Securities 95 187 208 389
Interest on Federal Funds Sold 14 108 31 132
TOTAL INTEREST AND DIVIDEND INCOME 49,474 51,319 98,432 102,167
INTEREST EXPENSE        
Interest on Deposits 3,544 5,485 7,029 11,424
Interest on Borrowings 3,854 4,667 7,854 9,366
TOTAL INTEREST EXPENSE 7,398 10,152 14,883 20,790
NET INTEREST INCOME 42,076 41,167 83,549 81,377
PROVISION FOR LOAN LOSSES 3,482 6,931 5,682 11,580
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 38,594 34,236 77,867 69,797
NON-INTEREST INCOME        
Service Charges on Deposit Accounts 4,192 3,257 8,151 6,388
Interchange and ATM Fees 1,974 1,258 3,676 2,348
Investment Management 3,603 3,189 6,819 5,918
Mortgage Banking Income, Net 683 622 1,730 1,622
Bank Owned Life Insurance Income 860 731 1,566 1,452
Net Gain on Sales of Securities Available for Sale 723 481 723 481
Gross Change on Write-Down of Certain Investments to Fair Value 170 (63) 419 118
Less: Non-Credit Related Other-Than-Temporary Impairment (306) (21) (595) (380)
Net Loss on Write-Down of Certain Investments to Fair Value (136) (84) (176) (262)
Other Non-Interest Income 1,575 1,484 3,583 3,041
TOTAL NON-INTEREST INCOME 13,474 10,938 26,072 20,988
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 19,762 18,406 40,014 36,869
Occupancy and Equipment Expenses 4,263 4,094 8,838 8,229
Advertising Expense 1,606 789 2,544 1,230
Data Processing and Facilities Management 1,038 1,497 2,676 2,791
FDIC Assessment 778 1,271 2,069 2,592
Legal 647 1,052 1,066 1,855
Foreclosure Expenses 594 217 1,021 462
Telephone 534 532 1,061 1,078
Gain(Loss) on Other Real Estate Owned and Foreclosed Assets 528 114 1,074 125
Fair Value Mark on a Terminated Hedging Relationship   554   792
Other Non-Interest Expense 7,106 6,403 12,975 12,495
TOTAL NON-INTEREST EXPENSE 36,856 34,929 73,338 68,518
INCOME BEFORE INCOME TAXES 15,212 10,245 30,601 22,267
PROVISION FOR INCOME TAXES 4,092 2,215 8,293 5,010
NET INCOME $ 11,120 $ 8,030 $ 22,308 $ 17,257
BASIC EARNINGS PER SHARE $ 0.52 $ 0.38 $ 1.04 $ 0.82
DILUTED EARNINGS PER SHARE $ 0.52 $ 0.38 $ 1.04 $ 0.82
WEIGHTED AVERAGE COMMON SHARES (BASIC) 21,441,864 20,964,706 21,370,457 20,951,264
Common Share Equivalents 39,159 90,939 43,775 83,289
WEIGHTED AVERAGE COMMON SHARES (DILUTED) 21,481,023 21,055,645 21,414,232 21,034,553