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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,471 $ (786)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Net amortization of premiums on investment securities 1,712 1,251
Provision for loan losses 2,350 4,867
Net gain on sales of mortgage loans (1,351) (1,899)
Other than temporary impairment of investments 0 20
Increase in cash surrender value of life insurance (157) (163)
Depreciation and amortization 701 730
Gain (loss) on sales and impairment of premises and equipment (21) 4
Net losses on other real estate owned 886 173
Gain on sale of securities 0 (93)
Amortization of core deposit intangible 278 305
Deferred tax provision 0 8,614
Stock based compensation expense 36 36
Originations of mortgage loans held-for-sale (63,251) (183,147)
Proceeds from sales of mortgage loans 63,589 202,585
Decrease in capital lease obligations (47) 9
(Increase) decrease in accrued interest receivable (188) 432
(Increase) decrease in other assets 2,071 (7,834)
Increase (decrease) in accrued interest payable 94 (491)
Increase (decrease) in other liabilities 187 (355)
NET CASH PROVIDED BY OPERATING ACTIVITIES 10,360 24,258
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of available-for-sale securities (44,344) (19,443)
Proceeds from sales of available-for-sale securities 0 4,562
Proceeds from maturities of available-for-sale securities 12,552 10,953
Net decrease in loans 50,799 36,624
Purchases of premises and equipment (457) (1,009)
Proceeds from the sale of premises and equipment 37 0
Proceeds from the sale of other real estate owned 2,442 2,398
NET CASH PROVIDED BY INVESTING ACTIVITIES 21,029 34,085
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in checking, NOW, money market and savings accounts 6,499 48,296
Net decrease in time certificates (27,021) (108,897)
Net increase (decrease) in borrowed funds 186 (7,316)
Preferred dividends paid 0 (616)
NET CASH USED IN FINANCING ACTIVITIES (20,336) (68,533)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 11,053 (10,190)
CASH AND CASH EQUIVALENTS:    
Beginning of year 92,918 229,780
End of year 103,971 219,590
SUPPLEMENTARY CASH FLOW INFORMATION:    
Cash paid for interest 4,859 8,496
Cash paid for income taxes 0 26
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Transfer from loans to foreclosed real estate 7,114 4,449
Unrealized gain on investment securities available for sale, net of tax effect $ 14 $ 417