XML 30 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
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/(loss) $ 6,619,536 $ 3,163,771 $ (5,607,337)
Adjustments to reconcile net income/(loss)to net cash from operating activities:      
Depreciation and amortization 1,842,943 1,655,025 1,287,785
Provision for loan losses 4,220,000 4,745,000 10,735,000
Stock based compensation expense 45,427 46,910 68,906
Earnings on BOLI (568,070) (470,216) (456,874)
(Gain)Loss on sale of available for sale (HTM) securities 0 (888,059) 0
(Gain)Loss on sale of available for sale (AFS) securities (776,753) (221,684) (264,112)
(Gain)Loss on sale of premises and equipment 3,772 678 2,605
(Gain)Loss on sale of loans (956,641) (628,950) (606,477)
Loans originated for sale (39,424,361) (37,255,823) (34,528,476)
Impairment on available for sale securities 149,045 158,303 750,770
Gain on settlement of interest rate floor 0 0 (364,766)
(Gain)Loss on Sale of OREO 79,903 54,790 287,622
Write-downs of OREO 733,045 1,362,441 1,131,067
Proceeds from the sale of loan held for sale 43,591,506 39,585,990 31,444,478
Change in accrued interest receivable (283,917) 47,906 175,401
Change in other assets (1,701,050) 3,798,823 (7,603,432)
Change in accrued interest payable 732,711 934,828 (178,071)
Change in other liabilities 871,270 365,941 291,800
Net cash from operating activities 15,178,366 16,455,674 (3,434,111)
Cash flows from investing activities:      
Net change in long-term interest bearing deposits 546,000 (996,000) 0
Net change in loans 4,516,118 31,547,695 19,323,776
Purchase of securities AFS (55,317,753) (53,141,782) (32,296,763)
Purchase of securities HTM 0 (1,721,320) (4,899,228)
Purchase of FHLB and FRB stock 0 (75,000) (218,354)
Sale or redemption of FHLB and FRB stock 267,400 250,700 0
Purchase of life insurance (3,000,000) 0 0
Proceeds from maturities, calls and paydowns of securities AFS 26,296,331 24,724,045 16,745,343
Proceeds from maturities of securities HTM 0 802,365 403,251
Proceeds from sale of securities AFS 13,469,065 8,327,894 9,483,978
Proceeds from sale of securities HTM 0 900,784 0
Purchase of premises, equipment, and leasehold improvements (1,421,108) (1,112,834) (1,111,542)
Proceeds on Sale of OREO 2,750,820 3,950,257 1,161,928
Proceeds from sale of impaired loans 4,126,701 0 0
Net cash used in investing activities (7,766,426) 13,456,804 8,592,389
Cash flows from financing activities:      
Net change in deposits 25,680,700 7,975,785 (17,856,763)
Proceeds from issuance of preferred stock 0 0 1,788,000
Gross proceeds from issuance of common stock 0 2,826,810 0
Cash dividends paid on preferred stock 0 0 (1,579)
Proceeds from long-term FHLB advances 8,000,000 0 0
Repayment of long-term FHLB advances (3,500,000) (8,700,000) (9,000,000)
Repayment of short-term FHLB advances 0 (27,000,000) 13,000,000
Net cash from financing activities 30,180,700 (24,897,405) (12,070,342)
Net change in cash and cash equivalents 37,592,640 5,015,073 (6,912,064)
Cash and cash equivalents, beginning of period 29,679,382 24,664,309 31,576,373
Cash and cash equivalents, end of period 67,272,022 29,679,382 24,664,309
Cash paid (refunded) during the year for:      
Interest 5,406,207 7,256,603 12,424,696
Income taxes 820,000 (1,140,502) 1,265,000
Non-cash Items:      
Transfer of loans to Other Real Estate Owned 2,408,735 5,017,662 4,562,948
Transfer of securities from held-to-maturity to available-for-sale 0 5,470,254 0
Transfer of loans to Loans Held for Sale $ 3,000,000 $ 0 $ 0