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Consolidated Statement of Operations (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Interest revenue:        
Loans, including fees $ 60,958 $ 70,611 $ 122,065 $ 142,826
Investment securities, including tax exempt of $251, $295, $510 and $606 14,792 15,829 28,396 32,032
Federal funds sold, commercial paper and deposits in banks 752 759 1,571 1,697
Total interest revenue 76,502 87,199 152,032 176,555
Deposits:        
NOW 1,036 1,745 2,360 3,599
Money market 1,499 1,829 3,527 3,586
Savings 64 83 141 167
Time 10,995 17,718 22,727 37,916
Total deposit interest expense 13,594 21,375 28,755 45,268
Federal funds purchased, repurchase agreements and other short-term borrowings 1,074 1,056 2,116 2,094
Federal Home Loan Bank advances 570 974 1,160 1,951
Long-term debt 2,747 2,667 5,527 5,329
Total interest expense 17,985 26,072 37,558 54,642
Net interest revenue 58,517 61,127 114,474 121,913
Provision for loan losses 11,000 61,500 201,000 136,500
Net interest revenue after provision for loan losses 47,517 (373) (86,526) (14,587)
Fee revenue:        
Service charges and fees 7,608 7,993 14,328 15,440
Mortgage loan and other related fees 952 1,601 2,446 3,080
Brokerage fees 691 586 1,368 1,153
Securities gains, net 783   838 61
Loss from prepayment of debt (791)   (791)  
Other 4,662 1,399 7,554 3,511
Total fee revenue 13,905 11,579 25,743 23,245
Total revenue 61,422 11,206 (60,783) 8,658
Operating expenses:        
Salaries and employee benefits 26,436 23,590 51,360 47,950
Communications and equipment 3,378 3,511 6,722 6,784
Occupancy 3,805 3,836 7,879 7,650
Advertising and public relations 1,317 1,352 2,295 2,395
Postage, printing and supplies 1,085 765 2,203 1,990
Professional fees 2,350 2,178 5,680 4,121
Foreclosed property 1,891 14,540 66,790 25,353
FDIC assessments and other regulatory charges 3,644 3,566 9,057 7,192
Amortization of intangibles 760 794 1,522 1,596
Other 4,062 4,176 10,491 8,097
Loss on sale of nonperforming assets   45,349   45,349
Total operating expenses 48,728 103,657 163,999 158,477
Income (loss) from continuing operations before income taxes 12,694 (92,451) (224,782) (149,819)
Income tax expense (benefit) 5,077 (32,919) (89,913) (55,829)
Net income (loss) from continuing operations 7,617 (59,532) (134,869) (93,990)
Loss from discontinued operations, net of income taxes       (101)
Gain from sale of subsidiary, net of income taxes and selling costs       1,266
Net income (loss) 7,617 (59,532) (134,869) (92,825)
Preferred stock dividends and discount accretion 3,016 2,577 5,794 5,149
Net income (loss) available to common shareholders $ 4,601 $ (62,109) $ (140,663) $ (97,974)
Earnings (loss) from continuing operations per common share - Basic $ 0.18 $ (3.29) $ (6.40) $ (5.25)
Earnings (loss) from continuing operations per common share - Diluted $ 0.08 $ (3.29) $ (6.40) $ (5.25)
Earnings (loss) per common share - Basic $ 0.18 $ (3.29) $ (6.40) $ (5.19)
Earnings (loss) per common share - Diluted $ 0.08 $ (3.29) $ (6.40) $ (5.19)
Weighted average common shares outstanding - Basic 25,427 18,905 21,965 18,891
Weighted average common shares outstanding - Diluted 57,543 18,905 21,965 18,891