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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest Income        
Residential real estate loans $ 7,026 $ 7,495 $ 14,286 $ 15,279
Commercial loans 29,865 30,430 58,497 61,471
Consumer and other loans 7,909 8,813 15,773 17,983
Investment securities 17,351 17,454 31,550 37,343
Total interest income 62,151 64,192 120,106 132,076
Interest Expense        
Deposits 3,474 4,609 7,186 9,563
Securities sold under agreements to repurchase 210 303 437 602
Federal Home Loan Bank advances 2,648 3,218 5,299 6,599
Federal funds purchased and other borrowed funds 54 61 106 123
Subordinated debentures 799 853 1,615 1,755
Total interest expense 7,185 9,044 14,643 18,642
Net Interest Income 54,966 55,148 105,463 113,434
Provision for loan losses 1,078 7,925 3,178 16,550
Net interest income after provision for loan losses 53,888 47,223 102,285 96,884
Non-Interest Income        
Service charges and other fees 11,818 11,291 22,404 21,783
Miscellaneous loan fees and charges 1,153 1,113 2,242 2,059
Gain on sale of loans 7,472 7,522 16,561 14,335
Gain on sale of investments 241 0 104 0
Other income 2,538 1,865 4,861 3,952
Total non-interest income 23,222 21,791 46,172 42,129
Non-Interest Expense        
Compensation and employee benefits 24,917 23,684 49,494 47,244
Occupancy and equipment 5,906 5,825 11,731 11,793
Advertising and promotions 1,621 1,713 3,169 3,115
Outsourced data processing 813 788 1,638 1,634
Other real estate owned 2,968 2,199 3,852 9,021
Federal Deposit Insurance Corporation premiums 1,154 1,300 2,458 3,012
Core deposit intangibles amortization 505 535 991 1,087
Other expense 10,597 10,146 18,582 18,329
Total non-interest expense 48,481 46,190 91,915 95,235
Income Before Income Taxes 28,629 22,824 56,542 43,778
Federal and state income tax expense 5,927 3,843 13,072 8,464
Net Income $ 22,702 $ 18,981 $ 43,470 $ 35,314
Basic earnings per share $ 0.31 $ 0.26 $ 0.60 $ 0.49
Diluted earnings per share $ 0.31 $ 0.26 $ 0.60 $ 0.49
Dividends declared per share $ 0.15 $ 0.13 $ 0.29 $ 0.26
Average outstanding shares - basic 72,480,019 71,928,697 72,224,263 71,921,885
Average outstanding shares - diluted 72,548,172 71,928,853 72,282,104 71,921,990