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Consolidated Statements 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 income:        
Interest and fees on loans $ 29,478 $ 33,891 $ 60,017 $ 68,263
Investment securities:        
U.S. Government and agency obligations 410 553 786 1,149
Mortgage-backed securities 1,325 1,453 2,570 2,899
State and political subdivisions 99 77 179 142
Other securities 30 92 75 155
Other interest-earning assets 130 213 270 430
Total interest income 31,472 36,279 63,897 73,038
Interest expense:        
Interest-bearing demand 103 140 227 272
Money market accounts 582 1,037 1,259 2,050
Savings accounts 10 16 26 32
Time deposits of $100,000 or more 2,077 3,517 4,426 7,541
Other time deposits 1,759 2,661 3,726 5,650
Other borrowings 494 524 991 1,041
Subordinated debentures 1,462 1,276 2,836 2,543
Total interest expense 6,487 9,171 13,491 19,129
Net interest income 24,985 27,108 50,406 53,909
Provision for loan losses 20,140 7,776 29,190 16,307
Net interest income after provision for loan losses 4,845 19,332 21,216 37,602
Noninterest income:        
Service charges and fees 3,231 3,170 6,109 6,266
Other noninterest income (loss) (28) 342 149 432
Gain on sales of loans, net 401 416 595 1,401
Gain on sale/call of investment securities, net   34   41
Total noninterest income 3,604 3,962 6,853 8,140
Noninterest expense:        
Salaries and employee benefits 6,974 7,637 14,489 15,217
Occupancy 2,703 2,836 5,507 5,619
FDIC and other insurance 937 1,521 2,180 3,108
Other real estate, net 2,602 629 3,038 735
General and administrative 1,764 3,523 5,391 6,725
Total noninterest expense 14,980 16,146 30,605 31,404
Income (loss) before taxes (6,531) 7,148 (2,536) 14,338
Taxes on income (3,561) 2,737 (2,027) 5,555
Net income (loss) (2,970) 4,411 (509) 8,783
Net income (loss) available to common shareholders $ (4,027) $ 3,366 $ (2,619) $ 6,695
Basic earnings per common share $ (0.21) $ 0.19 $ (0.13) $ 0.41
Diluted earnings per common share $ (0.21) $ 0.19 $ (0.13) $ 0.41
Cash dividends declared per share