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Condensed Consolidated Statements of Operations (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 income:        
Interest and fees on loans $ 16,362 $ 20,554 $ 33,268 $ 41,674
Taxable interest on investments 1,197 1,427 2,441 2,998
Nontaxable interest on investments 15 19 33 45
Interest on interest bearing deposits 134 111 270 259
Total interest income 17,708 22,111 36,012 44,976
Deposits:        
Interest bearing demand 547 1,372 1,132 2,877
Savings 17 20 34 37
Time 1,365 2,971 3,390 6,480
Federal funds purchased and other borrowings 1,113 1,737 2,456 3,461
Total interest expense 3,042 6,100 7,012 12,855
Net interest income 14,666 16,011 29,000 32,121
Loan loss provision 2,000 2,500 7,500 16,000
Net interest income after loan loss provision 12,666 13,511 21,500 16,121
Noninterest income:        
Service charges on deposit accounts 1,206 1,709 2,394 3,429
Mortgage loan origination and processing fees 38 110 96 218
Gains on sales of mortgage loans, net 7 18 12 61
Gains on sales of investment securities available-for-sale   573   644
Card issuer and merchant services fees, net 689 703 1,264 1,326
Earnings on bank-owned life insurance 314 1 585 1
Other income 558 624 1,129 1,309
Total noninterest income 2,812 3,738 5,480 6,988
Noninterest expense:        
Salaries and employee benefits 7,031 7,267 14,370 14,951
Occupancy and equipment 1,610 1,629 3,179 3,264
Communications 411 477 838 950
FDIC insurance 623 1,946 1,752 4,632
OREO 1,302 3,496 2,890 3,980
Other expenses 4,532 3,380 8,123 7,554
Total noninterest expense 15,509 18,195 31,152 35,331
Loss before income taxes and extraordinary net gain (31) (946) (4,172) (12,222)
Credit for income taxes 2,042 609 4,388 609
Income (loss) before extraordinary net gain 2,011 (337) 216 (11,613)
Extraordinary gain on extinguishment of junior subordinated debentures, net of income taxes     32,839  
Net income (loss) $ 2,011 $ (337) $ 33,055 $ (11,613)
Basic and diluted:        
Income (loss) before extraordinary net gain $ 0.04 $ (0.12) $ 0.01 $ (4.14)
Extraordinary net gain     $ 0.81  
Net income (loss) per common share $ 0.04 $ (0.12) $ 0.82 $ (4.14)