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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income $ 6,394 $ 2,783
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation 796 634
Provision for loan losses 2,570 4,712
Accretion of acquisition discount on purchased loans (19,772) (15,376)
Depreciation 2,659 1,773
Amortization of core deposit intangible 1,296 570
Amortization of acquisition premium on time deposits (2,525) (2,307)
Net accretion of acquisition discount on long-term debt 12 45
Gain on acquisition 0 (7,382)
Gain on sale of branch (415) 0
Gain on mortgage loan commitments 45 (428)
Gain on sales of loans held for sale (5,243) (4,373)
Originations of loans held for sale (133,412) (158,380)
Proceeds from sales of loans held for sale 136,161 185,241
Increase in cash surrender value of bank-owned life insurance (1,046) (671)
Deferred income taxes 4,806 (206)
Gain on sales of available for sale securities (122) (1,214)
Net amortization of premiums on available for sale securities 2,253 1,500
Net loss on disposal of foreclosed assets 20 11
Valuation adjustments on foreclosed assets 599 415
Gains from change in fair value of interest rate swaps 0 (103)
Change in assets and liabilities:    
(Increase) decrease in accrued interest receivable (5,851) 180
(Increase) decrease in other assets (7,986) 6,025
Increase (decrease) in accrued interest payable 232 (150)
Increase in other liabilities 3,329 2,683
Net cash provided by (used in) operating activities (15,200) 15,982
Cash flows from investing activities    
Purchases of investment securities available for sale (343,769) (190,198)
Purchases of investment securities held to maturity (39,776) 0
Proceeds from maturities and repayments of investment securities available for sale 284,085 26,725
Proceeds from call of investment securities held to maturity 500 0
Proceeds from sales of investment securities available for sale 28,549 174,326
Loan originations and principal collections, net (54,760) (130,645)
Proceeds from sales of loans 2,500 2,595
Net cash received in business combinations 36,116 24,009
Net cash paid in branch sale (10,837) 0
Purchases of trade accounts receivable, net (13,731) 0
Purchases of premises and equipment (6,496) (2,137)
Disposals of premises and equipment 4,295 0
Proceeds from disposal of foreclosed assets 4,758 4,838
Purchases of Federal Home Loan Bank stock (6,613) (2,572)
Purchase of bank-owned life insurance (15,000) 0
Net cash used in investing activities (130,179) (93,059)
Cash flows from financing activities    
Net increase in deposits 16,499 15,510
Repayments of short-term borrowings, net (118,379) 55,716
Proceeds from issuance of long-term debt, net 249,990 42,511
Proceeds from exercise of stock options 138 99
Proceeds from issuance of subsidiary common stock, net of issuance costs 44,466 0
Repurchase of subsidiary preferred stock (42,849) 0
Repurchase of subsidiary common stock warrants (2,552) 0
Distribution to legacy shareholders of Piedmont Community Bank Holdings, Inc. (9,809) 0
Cancellation of restricted stock for tax withholding (872) (205)
Cancellation and payout of fractional shares issued in merger (14) 0
Dividends paid on subsidiary preferred stock (314) (1,382)
Dividends paid on preferred stock (630) 0
Net cash provided by financing activities 135,674 112,249
Net change in cash and cash equivalents (9,705) 35,172
Cash and cash equivalents, beginning of period 100,780 50,463
Cash and cash equivalents, end of period 91,075 85,635
SUPPLEMENTAL DISCLOSURES:    
Interest 10,573 7,967
Income taxes 0 0
Noncash investing activities:    
Transfers of loans to foreclosed assets 4,267 4,860
Change in fair value of securities available for sale, net of tax 2,396 (6,515)
Change in fair value of cash flow hedge, net of tax (1,116) 2,176
Acquisition:    
Assets acquired (excluding goodwill) 1,802,385 855,686
Liabilities assumed 1,618,320 789,989
Other equity interests acquired 29,122 17,686
Purchase price 279,115 40,629
Goodwill recorded (gain on acquisition) $ 124,172 $ (7,382)