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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 15,952 $ 25,570 $ 6,214
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of investment security discounts, net 1,007 560 56
Depreciation 2,101 1,689 1,742
Intangible amortization 622 672 0
Provision for loan losses, non-covered loans 10,500 12,150 10,200
Provision for loan losses, covered loans (450) 1,336 0
Earnings on bank owned life insurance (311) (226) (154)
Net (gain) loss on sale of premises and equipment (74) 15 (57)
Net gain on sale of non-covered other real estate owned (62) (20) (68)
Net gain on sale of covered other real estate owned (6,526) (1,380) 0
Origination of loans held for sale (139,264) (134,010) (110,557)
Proceeds from sales of loans held for sale 127,819 126,266 110,220
Valuation adjustment on non-covered other real estate owned 272 300 567
Valuation adjustment on covered other real estate owned 0 858 0
Bargain purchase gain on acquisitions 0 (19,925) 0
Deferred taxes 3,799 2,130 (1,352)
Change in FDIC indemnification asset 9,232 (1,884) 0
Stock-based compensation 623 338 306
Excess tax benefit from stock-based compensation (1) (8) (6)
Net change in assets and liabilities:      
Net increase in other assets (3,288) (2,199) (3,717)
Net increase (decrease) in other liabilities 2,897 (14,688) (592)
Net cash provided by (used in) operating activities 24,848 (2,456) 12,802
Cash flows from investing activities:      
Purchases of investment securities, available for sale (189,494) (143,605) (70,866)
Maturities/calls/principal payments of investment and mortgage-backed securities available for sale 95,306 53,947 7,717
Net decrease (increase) in non-covered loans and covered loans 85,601 32,992 (3,612)
Purchases of premises and equipment (2,209) (14,043) (2,276)
Proceeds from the sale of premises and equipment 537 121 0
Proceeds from sale of non-covered other real estate owned 5,181 2,409 4,146
Proceeds from sale of covered other real estate owned 28,760 8,040 0
Capitalization of non-covered other real estate owned improvements 0 (118) (415)
Capitalization of covered other real estate owned improvements (697) (282) 0
Net proceeds from FDIC indemnification asset 33,078 17,381 0
Cash acquired in merger, net of cash consideration paid 0 351,287 0
Net cash provided by (used in) investing activities 56,063 308,129 (65,306)
Cash flows from financing activities:      
Net increase (decrease) in deposits (25,876) (262,400) 99,511
Gross payments on other borrowed funds 0 (10,000) (20,000)
Net decrease in FHLB overnight borrowings 0 (50,152) (11,640)
Redemption of preferred stock (26,380) 0 0
Repurchase of common stock warrant (1,625) 0 0
Proceeds from issuance of preferred stock 0 0 26,380
Proceeds from issuance of common stock 0 0 48,991
Proceeds from exercise of stock options 301 104 90
Excess tax benefits from stock-based compensation 1 8 6
Dividends paid on preferred stock (38) (1,320) (1,265)
Dividends paid on common stock (3,068) (2,067) (1,718)
Net cash provided by (used in) financing activities (56,685) (325,827) 140,355
Net change in cash and cash equivalents 24,226 (20,154) 87,851
Cash and cash equivalents at beginning of period 81,687 101,841 13,990
Cash and cash equivalents at end of period 105,913 81,687 101,841
Cash paid during the period for:      
Interest 10,285 11,772 14,180
Income taxes 7,400 14,000 3,000
Supplemental disclosures about noncash investing and financing activities:      
Change in fair value of investment securities available for sale, net of taxes 3,339 (508) (43)
Transfer of non-covered loans to non-covered other real estate owned 3,245 2,144 6,590
Transfer of covered loans to covered other real estate owned 18,393 18,792 0
Acquisitions:      
Assets acquired 0 998,302 0
Liabilities assumed $ 0 $ 985,351 $ 0