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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 7,620 $ 8,088
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of investment security premiums, net 1,036 320
Depreciation 1,176 1,001
Intangible amortization 254 315
Provision for loan losses, non-covered loans 4,350 6,000
Provision (recovery) of loan losses, covered loans 398 (318)
Earnings on bank owned life insurance (115) (161)
Net gain on sale of investment securities (342) 0
Net loss (gain) on sale of premises and equipment 10 (81)
Net loss on sale of non-covered other real estate owned 50 45
Net gain on sale of covered other real estate owned (2,300) (1,074)
Net gain on sales of loans held for sale (1,481) (542)
Origination of loans held for sale (85,357) (53,414)
Proceeds from sales of loans held for sale 96,738 61,941
Valuation adjustment on non-covered other real estate owned 549 53
Deferred taxes 2,177 2,424
Change in FDIC indemnification asset 6,136 3,044
Stock-based compensation 335 331
Excess tax benefit from stock-based compensation (20) (5)
Net change in assets and liabilities:    
Net (increase) decrease in other assets (2,387) 5,830
Net increase in other liabilities 4,699 2,465
Net cash provided by operating activities 33,526 36,262
Cash flows from investing activities:    
Purchases of investment securities, available for sale (74,936) (23,755)
Maturities/calls/principal payments of investment and mortgage-backed securities available for sale 48,728 37,459
Net decrease in non-covered loans and covered loans 14,791 55,093
Purchases of premises and equipment (808) (940)
Proceeds from the sale of premises and equipment 8 464
Proceeds from sale of non-covered other real estate owned 705 3,072
Proceeds from sale of covered other real estate owned 10,296 13,518
Capitalization of covered other real estate owned improvements 0 (746)
Net cash (used in) provided by investing activities (1,216) 84,165
Cash flows from financing activities:    
Net decrease in deposits (16,434) (9,308)
Redemption of preferred stock 0 (26,380)
Repurchase of common stock warrant 0 (1,625)
Proceeds from exercise of stock options 182 7
Excess tax benefits from stock-based compensation 20 5
Dividends paid on preferred stock 0 (38)
Dividends paid on common stock (4,009) (1,531)
Net cash used in financing activities (20,241) (38,870)
Net change in cash and cash equivalents 12,069 81,557
Cash, restricted cash and cash equivalents at beginning of period 105,913 81,687
Cash, restricted cash and cash equivalents at end of period 117,982 163,244
Cash paid during the period for:    
Interest 3,977 5,549
Income taxes 1,000 2,500
Supplemental disclosures about noncash investing and financing activities:    
Change in fair value of investment securities available for sale, net of taxes 785 616
Transfer of non-covered loans to non-covered other real estate owned 3,742 1,719
Transfer of covered loans to covered other real estate owned $ 4,374 $ 14,622