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Consolidated Statements of Income (Loss) (unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
INTEREST INCOME        
Interest and fees on loans $ 37,030 $ 35,636 $ 70,581 $ 70,678
Interest on investment securities:        
Taxable interest income 824 1,149 1,729 2,407
Tax-exempt interest income 477 491 956 984
Other, principally overnight investments 173 178 327 317
Total interest income 38,504 37,454 73,593 74,386
INTEREST EXPENSE        
Savings, checking and money market 381 759 891 1,608
Time deposits of $100,000 or more 1,546 2,085 3,159 4,260
Other time deposits 719 1,169 1,508 2,438
Securities sold under agreements to repurchase          4
Borrowings 256 490 512 1,034
Total interest expense 2,902 4,503 6,070 9,344
Net interest income 35,602 32,951 67,523 65,042
Provision for loan losses - non-covered 4,043 5,194 9,814 23,751
Provision for loan losses - covered 1,548 1,273 6,926 4,271
Total provision for loan losses 5,591 6,467 16,740 28,022
Net interest income after provision for loan losses 30,011 26,484 50,783 37,020
NONINTEREST INCOME        
Service charges on deposit accounts 3,254 2,967 6,189 5,814
Other service charges, commissions and fees 2,340 2,167 4,515 4,359
Fees from presold mortgage loans 820 489 1,567 900
Commissions from sales of insurance and financial products 579 432 978 815
Bank-owned life insurance income 212 162 420 173
Foreclosed property gains (losses and write-downs) - non-covered 777 (1,318) 1,535 (2,006)
Foreclosed property losses and write-downs - covered (520) (6,554) (5,136) (11,101)
FDIC indemnification asset income (expense), net (3,407) 3,558 1,490 7,663
Securities gains 7 (3) 7 449
Other gains (losses) 425 (130) 30 53
Total noninterest income 4,487 1,770 11,595 7,119
NONINTEREST EXPENSES        
Salaries 11,003 10,173 21,680 20,347
Employee benefits 2,546 2,777 5,173 6,691
Total personnel expense 13,549 12,950 26,853 27,038
Net occupancy expense 1,759 1,615 3,433 3,296
Equipment related expenses 1,106 1,164 2,194 2,334
Intangibles amortization 220 223 419 446
Other operating expenses 9,122 7,496 16,081 14,709
Total noninterest expenses 25,756 23,448 48,980 47,823
Income (loss) before income taxes 8,742 4,806 13,398 (3,684)
Income tax expense (benefit) 3,154 1,516 4,710 (1,792)
Net income (loss) 5,588 3,290 8,688 (1,892)
Preferred stock dividends (217) (829) (462) (1,589)
Net income (loss) available to common shareholders $ 5,371 $ 2,461 $ 8,226 $ (3,481)
Earnings (loss) per common share - Basic $ 0.27 $ 0.15 $ 0.42 $ (0.21)
Earnings (loss) per common share - Diluted $ 0.27 $ 0.15 $ 0.41 $ (0.21)
Dividends declared per common share $ 0.08 $ 0.08 $ 0.16 $ 0.16
Weighted average common shares outstanding: Basic 19,673,634 16,952,624 19,671,468 16,938,620
Weighted average common shares outstanding: Diluted 20,415,103 16,952,624 20,412,456 16,938,620