XML 16 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statement of Operations Statement (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 and dividend income:        
Loans $ 54,565 $ 57,434 $ 107,123 $ 115,300
Taxable investment securities 1,391 1,624 2,770 3,129
Non-taxable investment securities 930 1,262 2,031 2,587
Mortgage-backed securities 1,841 1,894 3,648 4,326
Federal funds sold and other 283 277 604 720
Total interest and dividend income 59,010 62,491 116,176 126,062
Interest expense:        
Deposits 6,301 9,381 12,951 20,011
Federal Home Loan Bank borrowings 4,261 5,073 8,653 10,489
Junior subordinated debentures 1,905 2,504 3,797 4,994
Other short-term borrowings 519 516 1,040 1,241
Total interest expense 12,986 17,474 26,441 36,735
Net interest income 46,024 45,017 89,735 89,327
Provision/ (Credit) for loan losses (2,190) 14,962 11,160 22,577
Net interest income/(loss) after provision for loan losses 48,214 30,055 78,575 66,750
Fees and other income:        
Investment management and trust fees 16,337 15,262 32,420 30,231
Wealth advisory fees 10,277 9,304 20,348 18,562
Other banking fee income 1,287 1,264 2,520 2,441
Gain on repurchase of debt 1,838 0 1,838 0
Gain on sale of investments, net 168 987 586 2,419
Gain on sale of loans, net 1,125 500 1,511 958
Gain/(loss) on OREO, net 844 (1,611) 954 (2,020)
Other 437 (73) 2,230 470
Total fees and other income 32,313 25,633 62,407 53,061
Operating expense:        
Salaries and employee benefits 35,867 34,653 72,639 68,501
Occupancy and equipment 7,431 6,696 14,774 13,482
Professional services 5,314 4,324 10,497 9,168
Marketing and business development 1,896 2,042 3,359 3,553
Contract services and data processing 1,388 1,437 2,710 2,763
Amortization of intangibles 1,450 1,339 2,662 2,669
FDIC insurance 1,294 2,266 3,530 4,353
Restructuring expense 4,304 0 6,286 0
Other 3,521 3,908 7,713 8,209
Total operating expense 62,465 56,665 124,170 112,698
Income/(loss) before income taxes 18,062 (977) 16,812 7,113
Income tax expense/(benefit) 4,229 (1,202) 4,051 1,134
Net income/(loss) from continuing operations 13,833 225 12,761 5,979
Net income/(loss) from discontinued operations 1,516 1,509 3,186 1,545
Net income/ (loss) before attrubution to noncontrolling interests 15,349 1,734 15,947 7,524
Less: Net income/ (loss) attributable to noncontrolling interests 804 616 1,551 1,301
Net income/(loss) attributable to the Company 14,545 1,118 14,396 6,223
Adjustments to net income/(loss) attributable to the Company to arrive at net income/(loss) attributable to common stockholders (199) (6,160) (475) (9,628)
Net income/(loss) attributable to common stockholders for earnings/(loss) per share calculation $ 14,346 $ (5,042) $ 13,921 $ (3,405)
Basic earnings/(loss) per share attributable to common stockholders:        
From continuing operations: $ 0.17 $ (0.09) $ 0.15 $ (0.07)
From discontinued operations: $ 0.02 $ 0.02 $ 0.04 $ 0.02
Total attributable to common stockholders: $ 0.19 $ (0.07) $ 0.19 $ (0.05)
Weighted average basic common shares outstanding 75,194,687 68,787,389 74,934,058 68,331,183
Diluted earnings/(loss) per share attributable to common stockholders:        
From continuing operations: $ 0.15 $ (0.09) $ 0.13 $ (0.07)
From discontinued operations: $ 0.02 $ 0.02 $ 0.04 $ 0.02
Total attributable to common stockholders: $ 0.17 $ (0.07) $ 0.17 $ (0.05)
Weighted average diluted common shares outstanding 83,264,842 68,787,389 83,114,698 68,331,183