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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income (loss)$ (17,320)$ (872)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:  
Net amortization of premiums on investment securities3,4831,487
Provision for loan losses17,21618,072
Net gain on sales of mortgage loans(3,201)(5,893)
Other than temporary impairment of investments116380
Impairment of goodwill4,9440
Increase in cash surrender value of life insurance(491)(649)
Depreciation and amortization2,1492,314
Loss on sales and impairment of premises and equipment1,4818
Net losses on other real estate owned2,8911,784
Gain on sale of securities(2,078)(889)
Amortization of core deposit intangible892975
Deferred tax provision5,2794,537
Stock based compensation expense14468
Originations of mortgage loans held-for-sale(407,551)(559,491)
Proceeds from sales of mortgage loans447,370538,900
Decrease in capital lease obligations2826
(Increase) decrease in accrued interest receivable1,500(393)
(Increase) decrease in other assets6,224(1,518)
Increase (decrease) in accrued interest payable(621)700
Increase (decrease) in other liabilities(11)2,510
NET CASH PROVIDED BY OPERATING ACTIVITIES62,4442,056
CASH FLOWS FROM INVESTING ACTIVITIES:  
Purchases of available-for-sale securities(110,103)(177,347)
Proceeds from sales of available-for-sale securities89,11129,180
Proceeds from maturities of available-for-sale securities29,93043,395
Net decrease in loans94,863(2,296)
Proceeds from the redemption of Federal Home Loan Bank stock2,411755
Purchases of premises and equipment(2,823)(4,048)
Proceeds from the sale of premises and equipment1060
Proceeds from the sale of other real estate owned12,1655,475
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES115,660(104,886)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Net increase in checking, NOW, money market and savings accounts37,79920,229
Net increase (decrease) in time certificates(274,093)139,510
Net decrease in borrowed funds(8,459)(4,193)
Proceeds from the issuance of common stock6,4020
Preferred dividends paid(616)(1,849)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES(238,967)153,697
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS(60,863)50,867
CASH AND CASH EQUIVALENTS:  
Beginning of year229,78092,337
End of year168,917143,204
SUPPLEMENTARY CASH FLOW INFORMATION:  
Cash paid for interest21,28525,609
Cash paid for income taxes2613
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:  
Transfer from loans to foreclosed real estate10,78115,395
Unrealized gain on investment securities available for sale, net of tax effect$ 4,513$ 1,594