Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Income

 v2.3.0.11
Condensed Consolidated Statements Of Income (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 and dividend income:        
Interest and fees on loans $ 42,332 $ 44,269 $ 84,335 $ 82,663
Interest on Federal funds sold   3   15
Interest on deposits in other banks 28 15 33 23
Interest and dividends on securities:        
Taxable 3,627 3,503 7,257 7,042
Nontaxable 1,769 1,532 3,523 2,897
Total interest and dividend income 47,756 49,322 95,148 92,640
Interest expense:        
Interest on deposits 6,166 7,837 12,850 15,100
Interest on Federal funds purchased     7 14
Interest on short-term borrowings 211 663 372 1,261
Interest on long-term borrowings 1,756 1,255 3,496 2,538
Total interest expense 8,133 9,755 16,725 18,913
Net interest income 39,623 39,567 78,423 73,727
Provision for loan losses 4,500 3,955 10,800 8,956
Net interest income after provision for loan losses 35,123 35,612 67,623 64,771
Noninterest income:        
Service charges on deposit accounts 2,216 2,381 4,274 4,552
Other service charges, commissions and fees 3,351 3,136 6,275 5,451
Gains (losses) on securities transactions, net   5 (16) 24
Gains on sales of loans 4,303 5,248 9,271 9,739
Gains (losses) on sales of other real estate and bank premises, net (791) 5 (1,090) 44
Other operating income 884 1,326 1,796 2,030
Total noninterest income 9,963 12,101 20,510 21,840
Noninterest expenses:        
Salaries and benefits 17,580 17,403 35,234 32,818
Occupancy expenses 2,668 2,871 5,422 5,506
Furniture and equipment expenses 1,679 1,781 3,341 3,183
Other operating expenses 13,945 13,093 26,642 30,441
Total noninterest expenses 35,872 35,148 70,639 71,948
Income before income taxes 9,214 12,565 17,494 14,663
Income tax expense 2,394 3,839 4,480 4,238
Net income 6,820 8,726 13,014 10,425
Dividends paid and accumulated on preferred stock 462 462 924 765
Accretion of discount on preferred stock 65 50 129 101
Net income available to common shareholders $ 6,293 $ 8,214 $ 11,961 $ 9,559
Earnings per common share, basic $ 0.24 $ 0.32 $ 0.46 $ 0.39
Earnings per common share, diluted $ 0.24 $ 0.32 $ 0.46 $ 0.39