XML 23 R7.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income from continuing operations $ 5,360 $ 21,815 $ 13,516
Net income (loss) from discontinued operations, net of tax 8,072 35,294 (27,938)
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 5,933 5,734 4,836
Provision for loan and lease losses 2,100 1,202 355
Net amortization of investment securities discounts/premiums 12,884 14,059 6,811
Stock-based compensation expense 1,975 2,641 3,157
Loans originated for sale (681,526) (630,165) (276,562)
Sale of loans originated for resale 418,748 495,531 268,019
Gain on sales of loans originated for resale (10,080) (12,542) (17,225)
Deferred income tax expense (benefit) 84 (13,590) (200)
Gain on sale of fixed assets (9) (14) (24)
Other than temporary impairment on securities held-to-maturity     20
Gain on sales of investment securities (14,435) (450) (1,889)
Fair value adjustment on investment in unconsolidated entity 2,430    
Decrease (increase) in accrued interest receivable 1,780 (2,729) (3,553)
Decrease (increase) in other assets 2,391 21,966 (222)
Decrease (increase) in discontinued assets held for sale 5,369 37,410 (23,390)
Increase (decrease) in other liabilities 4,044 (26,155) 15,284
Net cash used in operating activities (234,880) (49,993) (39,005)
Investing activities      
Purchase of investment securities available-for-sale (346,227) (533,168) (884,050)
Purchase of investment securities held-to-maturity     (52,899)
Proceeds from sale of investment securities available-for-sale 505,534 109,322 106,243
Proceeds from redemptions and prepayments of securities held-to-maturity 118 3,022 963
Proceeds from redemptions and prepayments of securities available-for-sale 244,293 188,252 233,262
Net increase in loans (205,019) (240,036) (134,114)
Net decrease in discontinued loans held for sale 298,651 253,938 82,199
Proceeds from sale of fixed assets 327 64 137
Purchases of premises and equipment (8,999) (6,611) (9,098)
Investment in unconsolidated entity 12,645 (193,595)  
Net cash provided by (used in) investing activities 501,323 (418,812) (657,357)
Financing activities      
Net (decrease) increase in deposits (207,027) 348,795 959,768
Net (decrease) increase in securities sold under agreements to repurchase (18,489) (1,807) 2,673
Proceeds from issuance of common stock     1,629
Proceeds from the exercise of options   103 1,653
Net cash (used in) provided by financing activities (225,516) 347,091 965,723
Net increase (decrease) in cash and cash equivalents 40,927 (121,714) 269,361
Cash and cash equivalents, beginning of year 1,114,235 1,235,949 966,588
Cash and cash equivalents, end of year 1,155,162 1,114,235 1,235,949
Supplemental disclosure:      
Interest paid 13,397 10,768 10,792
Taxes paid $ 592 2,578 17,602
Transfers of loans to other real estate owned   $ 725  
Transfers of loans to held for sale     $ 32,795