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Consolidated Statement of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and dividend income:      
Loans $ 211,997 $ 229,281 $ 232,017
Taxable investment securities 5,593 6,123 6,566
Non-taxable investment securities 3,768 5,134 6,041
Mortgage-backed securities 7,297 8,086 13,487
Federal funds sold and other 1,077 1,313 1,203
Total interest and dividend income 229,732 249,937 259,314
Interest expense:      
Deposits 24,479 36,770 58,872
Federal Home Loan Bank borrowings 16,915 20,125 25,324
Junior subordinated debentures 7,434 10,028 12,324
Repurchase agreements and other short-term borrowings 1,960 2,289 3,309
Total interest expense 50,788 69,212 99,829
Net interest income 178,944 180,725 159,485
Provision for loan losses 13,160 87,178 44,959
Net interest income/(loss) after provision for loan losses 165,784 93,547 114,526
Fees and other income:      
Investment management and trust fees 63,356 60,198 54,697
Wealth advisory fees 41,082 37,874 34,834
Other banking fee income 5,038 5,401 4,954
Gain on repurchase of debt 4,230 0 18,739
Gain on sale of investments, net 798 3,653 5,803
Gain on sale of loans, net 2,489 5,249 5,467
Gain/(loss) on OREO, net 5,372 (2,839) (1,165)
Other 2,605 2,236 3,120
Total fees and other income 124,970 111,772 126,449
Operating expense:      
Salaries and employee benefits 147,311 143,248 127,707
Occupancy and equipment 30,078 27,773 26,818
Professional services 16,932 19,495 19,841
Marketing and business development 6,922 7,312 6,462
Contract services and data processing 5,293 5,398 5,271
Amortization of intangibles 5,014 5,264 8,289
Impairment of goodwill and intangibles 0 0 1,699
FDIC insurance 6,139 8,603 9,746
Restructuring expense 8,055 0 0
Other 14,389 19,762 17,125
Total operating expense 240,133 236,855 222,958
Income/(loss) before income taxes 50,621 (31,536) 18,017
Income tax expense/(benefit) 14,367 (19,451) 1,632
Net income/(loss) from continuing operations 36,254 (12,085) 16,385
Net income/(loss) from discontinued operations 6,099 3,729 (7,505)
Net income/ (loss) before attrubution to noncontrolling interests 42,353 (8,356) 8,880
Less: Net income/ (loss) attributable to noncontrolling interests 3,216 2,614 3,649
Net income/(loss) attributable to the Company 39,137 (10,970) 5,231
Adjustments to net income/(loss) attributable to the Company to arrive at net income/(loss) attributable to common shareholders (805) (9,766) (40,231)
Net income/(loss) attributable to common shareholders for basic earnings/(loss) per share calculation $ 38,332 $ (20,736) $ (35,000)
Basic earnings/(loss) per share attributable to common shareholders:      
From continuing operations: $ 0.43 $ (0.34) $ (0.41)
From discontinued operations: $ 0.08 $ 0.05 $ (0.11)
Total attributable to common shareholders: $ 0.51 $ (0.29) $ (0.52)
Weighted average basic common shares outstanding 75,169,611 71,321,162 66,696,977
Diluted earnings/(loss) per share attributable to common shareholders:      
From continuing operations: $ 0.39 $ (0.34) $ (0.41)
From discontinued operations: $ 0.07 $ 0.05 $ (0.11)
Total attributable to common shareholders: $ 0.46 $ (0.29) $ (0.52)
Weighted average diluted common shares outstanding 83,451,422 71,321,162 66,696,977