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Unaudited Consolidated Statements of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 29,548 $ 12,582
Adjustments to reconcile net income to net cash used in operating activities:    
Amortization of deferred loan origination fees, net of costs (27) 346
Amortization of premiums, net of accretion of discounts 6,186 13,426
Amortization of core deposit intangible 71 23
Accretion of FDIC loss-share indemnification asset, net (2,231) (1,314)
Other-than-temporary impairments on securities   2,428
Depreciation and amortization of premises and equipment 2,748 2,596
Deferred income taxes, net (2,753) (4,099)
Provision for loan and lease losses, net 8,149 8,114
Stock-based compensation 682 546
Fair value adjustment of servicing asset (483) (975)
(Gain) loss on:    
Sale of securities (9,130) (23,853)
Sale of mortgage loans held for sale (2,441) (2,104)
Derivatives 7,571 37,251
Sale of foreclosed real estate 135 143
Sale of premises and equipment 38 1,865
Originations and purchases of loans held-for-sale (106,955) (106,289)
Proceeds from sale of loans held-for-sale 36,608 35,451
Net (increase) decrease in:    
Trading securities 466 467
Accrued interest receivable 2,286 (977)
Other assets 1,111 (6,706)
Net increase (decrease) in:    
Accrued interest payable on deposits and borrowings (618) 1,553
Accrued expenses and other liabilities (22,062) 2,833
Net cash used in operating activities (51,101) (26,693)
Purchases of:    
Investment securities available-for-sale (492,533) (3,932,574)
Investment securities held-to-maturity (209,112)  
FHLB stock (1,283) (2,560)
Equity options (370) (1,110)
Maturities and redemptions of:    
Investment securities available-for-sale 446,958 1,257,926
Investment securities held-to-maturity 33,412  
FHLB stock   10,077
Proceeds from sales of:    
Investment securities available-for-sale 252,836 2,466,565
Foreclosed real estate 5,806 2,481
Other repossessed assets 2,842  
Premises and equipment 11 635
Origination and purchase of loans, excluding loans held-for-sale (87,675) (61,155)
Principal repayment of loans, including covered loans 133,000 84,275
Reimbursements from the FDIC on shared loss agreements 39,870  
Additions to premises and equipment (2,474) (934)
Cash and cash equivalents received in FDIC-assisted acquisition   89,777
Net cash provided by (used in) investing activities 121,288 (86,597)
Net increase (decrease) in:    
Deposits (204,576) 65,050
Short term borrowings (10,658) (3,979)
Securities sold under agreement to repurchase 2,600  
Proceeds from:    
Exercise of stock options   21
Issuance of common stock, net   94,390
Issuance of preferred stock, net   189,089
Repayments and advances form purchase money note issued to the FDIC   (5,433)
Purchase of treasury stock (29,242)  
Termination of derivative instruments 10,648 (25,109)
Dividends paid on preferred stock (2,401) (2,934)
Dividends paid on common stock (4,475) (2,294)
Net cash provided by (used in) financing activities (238,104) 308,801
Net change in cash and cash equivalents (167,917) 195,511
Cash and cash equivalents at beginning of period 448,946 277,123
Cash and cash equivalents at end of period 281,029 472,634
Supplemental Cash Flow Disclosure and Schedule of Non-cash Activities:    
Interest paid 80,854 82,160
Income taxes paid 3,848 6,281
Mortgage loans securitized into mortgage-backed securities 71,007 68,155
Securities sold but not yet delivered   1,490
Securities purchased but not yet received   533
Transfer from loans to foreclosed real estate and other repossed assets $ 10,464 $ 7,522