NON-INTEREST INCOME

Non-interest income for the first quarter of 2012 increased 6.3% to $13.8 million compared to $13.0 million for the first quarter of 2011 and increased 6.5% compared to $13.0 million for the fourth quarter of 2011. Non-interest income for the first quarter of 2011 included a pre-tax bargain purchase gain of $2.95 million on one FDIC-assisted acquisition. The Company made no FDIC-assisted acquisitions in the first quarter of 2012.

Service charges on deposit accounts increased 22.3% to $4.69 million in the first quarter of 2012 compared to $3.84 million in the first quarter of 2011, but decreased 4.9% compared to $4.94 million in the fourth quarter of 2011.

Mortgage lending income increased 61.7% to $1.10 million in the first quarter of 2012 compared to $0.68 million in the first quarter of 2011, but decreased 4.0% compared to $1.15 million in the fourth quarter of 2011.

Trust income for the first quarter of 2012 decreased 1.0% to $0.77 million compared to $0.78 million for the first quarter of 2011, and decreased 4.6% compared to $0.81 million for the fourth quarter of 2011.

Income from accretion of the Company’s FDIC loss share receivable, net of amortization of the Company’s FDIC clawback payable, increased 15.4% to $2.31 million in the first quarter of 2012 compared to $2.00 million in the first quarter of 2011, but decreased 2.3% compared to $2.36 million in the fourth quarter of 2011. Other loss share income increased 104.2% to $1.98 million in the first quarter of 2012 compared to $0.97 million in the first quarter of 2011, and increased 32.1% compared to $1.50 million in the fourth quarter of 2011.

Net gains on sales of other assets increased to $1.56 million in the first quarter of 2012 compared to $0.41 million in the first quarter of 2011 and $0.90 million in the fourth quarter of 2011. The net gains on sales of other assets in the first quarter of 2012 were primarily due to net gains on sales of foreclosed assets covered by FDIC loss share agreements.

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