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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest Income        
Residential real estate loans $ 7,740 $ 7,990 $ 23,019 $ 24,862
Commercial loans 30,293 32,585 91,764 98,620
Consumer and other loans 8,826 10,224 26,809 30,885
Investment securities 15,156 20,634 52,499 57,001
Total interest income 62,015 71,433 194,091 211,368
Interest Expense        
Deposits 4,485 6,218 14,048 19,890
Securities sold under agreements to repurchase 395 357 997 1,033
Federal Home Loan Bank advances 3,116 3,491 9,715 9,132
Federal funds purchased and other borrowed funds 53 60 176 155
Subordinated debentures 858 1,171 2,613 4,087
Total interest expense 8,907 11,297 27,549 34,297
Net Interest Income 53,108 60,136 166,542 177,071
Provision for loan losses 2,700 17,175 19,250 55,825
Net interest income after provision for loan losses 50,408 42,961 147,292 121,246
Non-Interest Income        
Service charges and other fees 11,939 11,563 33,722 33,101
Miscellaneous loan fees and charges 1,080 973 3,139 2,878
Gain on sale of loans 8,728 5,121 23,063 14,106
Gain on sale of investments 0 813 0 346
Other income 2,227 2,466 6,179 5,751
Total non-interest income 23,974 20,936 66,103 56,182
Non-Interest Expense        
Compensation and employee benefits 24,046 21,607 71,290 64,380
Occupancy and equipment 6,001 6,027 17,794 17,709
Advertising and promotions 1,820 1,762 4,935 4,881
Outsourced data processing 801 740 2,435 2,304
Other real estate owned 6,373 7,198 15,394 14,359
Federal Deposit Insurance Corporation premiums 1,767 1,638 4,779 6,159
Core deposit intangibles amortization 532 599 1,619 1,916
Goodwill impairment charge 0 40,159 0 40,159
Other expense 8,838 8,568 27,167 25,127
Total non-interest expense 50,178 88,298 145,413 176,994
Income (Loss) Before Income Taxes 24,204 (24,401) 67,982 434
Federal and state income tax expense (benefit) 4,760 (5,353) 13,224 (2,689)
Net Income (Loss) $ 19,444 $ (19,048) $ 54,758 $ 3,123
Basic earnings (loss) per share $ 0.27 $ (0.27) $ 0.76 $ 0.04
Diluted earnings (loss) per share $ 0.27 $ (0.27) $ 0.76 $ 0.04
Dividends declared per share $ 0.13 $ 0.13 $ 0.39 $ 0.39
Average outstanding shares - basic 71,933,141 71,915,073 71,925,664 71,915,073
Average outstanding shares - diluted 71,973,985 71,915,073 71,925,761 71,915,073