Historical Income Statement
NOTE: Dollars in thousands, except per share amounts
3 Months
Ended
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
06/30/10
INTEREST INCOME:
Interest & fees on loans
$23,215
$29,720
$35,491
$41,065
$51,814
$79,614
$115,405
$138,919
$143,501
$134,548
$33,236
Interest & dividends on investment securities
3,561
4,177
3,507
4,903
6,184
6,864
9,887
15,219
16,967
16,085
3,925
Total interest income
26,776
33,897
38,998
45,968
57,998
86,478
125,292
154,138
160,468
150,633
37,161
INTEREST EXPENSE:
Deposits
11,425
14,494
13,341
12,914
15,100
26,432
48,152
69,398
67,261
49,598
8,431
Secs. sold under agreement to repurch. and fed. funds purch.
1,076
976
245
123
325
1,710
4,730
6,259
5,534
3,475
1,010
Other borrowed funds
360
521
497
21
15
423
506
225
1,235
1,077
268
Trust preferred capital notes
0
0
45
835
891
1,246
3,099
3,099
3,400
5,079
1,231
Total interest expense
12,861
15,991
14,128
13,893
16,331
29,811
56,487
78,981
77,430
59,229
10,940
NET INTEREST INCOME
13,915
17,906
24,870
32,075
41,667
56,667
68,805
75,157
83,038
91,404
26,221
PROVISION FOR LOAN LOSSES
947
1,572
1,678
1,575
2,989
3,772
4,406
4,340
25,378
81,913
4,200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
12,968
16,334
23,192
30,500
38,678
52,895
64,399
70,817
57,660
9,491
22,021
NON-INTEREST INCOME (CHARGES):
Service charges and other fees
980
1,271
1,616
1,609
1,749
2,553
3,226
3,388
3,902
3,606
838
Non-deposit investment services commissions
0
0
14
202
427
456
621
770
702
600
178
Fees and net gains on loans held-for-sale
1,586
3,379
3,920
5,670
3,229
3,306
3,058
2,706
1,498
2,912
483
(Loss) gain on other real estate owned
0
0
0
0
0
0
0
638
0
(9,952)
(1,060)
0
13
(1)
0
0
0
0
(387)
0
(1,821)
(529)
Other
33
41
44
265
354
361
418
768
329
303
118
Total non-interest income (charges)
2,599
4,704
5,593
7,746
5,759
6,676
7,323
7,883
6,431
(4,352)
28
NON-INTEREST EXPENSE:
Salaries & employee benefits
5,812
8,130
10,159
12,562
13,478
17,321
19,911
22,536
23,362
23,040
5,991
Occupancy expense
1,946
2,337
2,915
3,190
3,240
4,479
5,448
7,031
8,857
10,253
2,410
FDIC insurance expense
123
62
75
97
120
142
166
758
1,500
5,411
1,332
Franchise tax
138
174
223
326
471
835
1,044
1,279
1,528
3,100
718
Data processing
750
902
1,079
1,239
1,314
1,553
1,954
1,940
2,166
2,436
579
Provision for unfunded commitments
0
0
0
0
0
0
0
0
0
2,960
0
Other operating expense
1,867
2,377
2,766
3,406
4,184
5,136
5,766
6,150
7,363
9,668
2,698
Total non-interest expense
10,636
13,982
17,217
20,820
22,807
29,466
34,289
39,694
44,776
56,868
13,728
INCOME/(LOSS) BEFORE TAXES
4,931
7,056
11,568
17,426
21,630
30,105
37,433
39,006
19,315
(51,729)
8,321
Provision (benefit) for income taxes
1,681
2,391
3,892
5,880
7,401
10,438
12,925
13,219
6,231
(18,404)
2,750
NET INCOME/(LOSS)
3,250
4,665
7,676
11,546
14,229
19,667
24,508
25,787
13,084
(33,325)
5,571
Effective dividend on preferred stock
0
0
0
0
0
0
0
0
258
4,539
1,251
NET INCOME/(LOSS) AVAILABLE TO COMMON STOCKHOLDERS
$3,250
$4,665
$7,676
$11,546
$14,229
$19,667
$24,508
$25,787
$12,826
($37,864)
$4,320
Earnings (loss) per common share, basic
$0.12
$0.18
$0.38
$0.52
$0.59
$0.77
$0.95
$0.98
$0.48
($1.42)
$0.16
Earnings (loss) per common share, diluted
$0.12
$0.17
$0.34
$0.47
$0.55
$0.72
$0.89
$0.95
$0.47
($1.42)
$0.15
(Loss) gain on securities available -for-sale
31
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