Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest and dividend income:        
Interest and fees on loans $ 40,299 $ 42,332 $ 80,907 $ 84,335
Interest on deposits in other banks 34 28 58 33
Interest and dividends on securities:        
Taxable 3,182 3,627 6,636 7,257
Nontaxable 1,789 1,769 3,577 3,523
Total interest and dividend income 45,304 47,756 91,178 95,148
Interest expense:        
Interest on deposits 5,023 6,166 10,358 12,850
Interest on Federal funds purchased 1   1 7
Interest on short-term borrowings 47 82 91 166
Interest on long-term borrowings 2,147 1,885 4,294 3,702
Total interest expense 7,217 8,133 14,744 16,725
Interest Income (Expense), Net 38,087 39,623 76,434 78,423
Provision for loan losses 3,000 4,500 6,500 10,800
Net interest income after provision for loan losses 35,087 35,123 69,934 67,623
Noninterest income:        
Service charges on deposit accounts 2,291 2,216 4,421 4,274
Other service charges, commissions and fees 3,627 3,351 7,037 6,275
Gains (losses) on securities transactions, net 10   5 (16)
Gains on sales of mortgage loans 7,315 4,303 12,611 9,271
Losses (gains) on sales of other real estate and bank premises, net 195 (791) 137 (1,090)
Other operating income 972 884 2,017 1,796
Total noninterest income 14,410 9,963 26,228 20,510
Noninterest expenses:        
Salaries and benefits 20,418 17,580 39,925 35,234
Occupancy expenses 3,092 2,668 5,739 5,422
Furniture and equipment expenses 1,868 1,679 3,631 3,341
Other operating expenses 12,386 13,945 24,078 26,642
Total noninterest expenses 37,764 35,872 73,373 70,639
Income before income taxes 11,733 9,214 22,789 17,494
Income tax expense 3,313 2,394 6,446 4,480
Net income 8,420 6,820 16,343 13,014
Dividends paid and accumulated on preferred stock   462   924
Accretion of discount on preferred stock   65   129
Net income available to common shareholders $ 8,420 $ 6,293 $ 16,343 $ 11,961
Earnings per common share, basic $ 0.32 $ 0.24 $ 0.63 $ 0.46
Earnings per common share, diluted $ 0.32 $ 0.24 $ 0.63 $ 0.46