Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Income

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Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest and dividend income:      
Interest and fees on loans $ 168,479 $ 169,549 $ 112,316
Interest on Federal funds sold 1 17 1
Interest on deposits in other banks 123 77 135
Interest and dividends on securities:      
Taxable 13,387 13,958 10,606
Nontaxable 7,083 6,220 5,529
Total interest and dividend income 189,073 189,821 128,587
Interest expense:      
Interest on deposits 24,346 30,742 39,451
Interest on Federal funds purchased 7 33 27
Interest on short-term borrowings 1,307 1,790 2,261
Interest on long-term borrowings 7,053 5,680 7,032
Total interest expense 32,713 38,245 48,771
Net interest income 156,360 151,576 79,816
Provision for loan losses 16,800 24,368 18,246
Net interest income after provision for loan losses 139,560 127,208 61,570
Noninterest income:      
Service charges on deposit accounts 8,826 9,105 8,252
Other service charges, commissions and fees 12,825 11,395 6,003
Gains on securities transactions, net 913 58 163
Other-than-temporary impairment losses (400)      
Gains on sales of loans 19,840 22,151 16,654
Gains (losses) on sales of other real estate owned and bank premises, net (2,060) 628 (37)
Other operating income 3,833 3,961 1,932
Total noninterest income 43,777 47,298 32,967
Noninterest expenses:      
Salaries and benefits 71,652 67,913 43,315
Occupancy expenses 11,104 11,417 7,051
Furniture and equipment expenses 6,920 6,594 4,573
Other operating expenses 51,952 57,077 30,348
Total noninterest expenses 141,628 143,001 85,287
Income before income taxes 41,709 31,505 9,250
Income tax expense 11,264 8,583 890
Net income 30,445 22,922 8,360
Dividends paid on preferred stock 1,499 1,688 2,696
Amortization of discount on preferred stock 1,177 226 2,790
Net income available to common stockholders $ 27,769 $ 21,008 $ 2,874
Earnings per common share, basic $ 1.07 $ 0.83 $ 0.19
Earnings per common share, diluted $ 1.07 $ 0.83 $ 0.19