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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (20,999) $ 1,200
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net amortization of premiums on investment securities 2,298 467
Provision for loan losses 15,260 10,193
Net gain on sales of mortgage loans (2,078) (3,210)
Other than temporary impairment of securities 42 266
Impairment of goodwill 4,944  
Increase in cash surrender value of life insurance (324) (398)
Depreciation and amortization 1,449 1,532
Loss on sales and impairment of premises and equipment 1,195 8
Net losses on other real estate owned 2,119 1,199
Gain on sale of securities (602) (888)
Amortization of core deposit intangible 603 660
Deferred tax provision 4,036 4,523
Stock based compensation expense 90 43
Originations of mortgage loans held-for-sale (363,246) (337,208)
Proceeds from sales of mortgage loans 388,007 340,591
Decrease in capital lease obligations 18 17
Decrease in accrued interest receivable 881 263
Decrease in other assets 4,001 941
Increase (decrease) in accrued interest payable (554) 776
Increase (decrease) in other liabilities 1,709 (1,511)
NET CASH PROVIDED BY OPERATING ACTIVITIES 38,849 19,464
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale securities (76,754) (83,414)
Proceeds from sales of available-for-sale securities 39,094 29,180
Proceeds from maturities of available-for-sale securities 20,168 30,939
Net decrease in loans 71,450 4,997
Proceeds from the redemption of Federal Home Loan Bank stock 1,602  
Purchases of premises and equipment (1,830) (2,332)
Proceeds from the sale of other real estate owned 8,880 4,115
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES 62,610 (16,515)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in checking, NOW, money market and savings accounts 14,215 26,355
Net increase (decrease) in time certificates (208,827) 105,331
Net decrease in borrowed funds (13,244) (4,846)
Proceeds from the issuance of common stock 6,402  
Preferred dividends paid (616) (1,233)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (202,070) 125,607
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS (100,611) 128,556
CASH AND CASH EQUIVALENTS:    
Beginning of year 229,780 92,337
End of year 129,169 220,893
SUPPLEMENTARY CASH FLOW INFORMATION:    
Cash paid for interest 15,186 16,478
Cash paid for income taxes 26 5
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Transfer from loans to foreclosed real estate 7,463 9,164
Unrealized gain on investment securities available for sale, net of tax effect $ 2,622 $ 983