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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) $ 3,112 $ (1,676)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for loan and lease losses 1,800 2,800
Provision for depreciation and amortization 448 294
Stock-based compensation 528 147
Deferred taxes 187 0
Net amortization (accretion) of investment securities premiums and discounts 39 (15)
Gain on sale of investment securities (209) 0
Gain on sale of loans 0 (78)
Origination of loans held for sale (501,139) (534,648)
Proceeds from the sale of loans held for sale 500,270 559,608
Increase in FDIC loss sharing receivable (1,190) (1,504)
Amortization (accretion) of fair value discounts 1,374 (185)
Net gain on sales of other real estate owned (60) 0
Impairment charges on other real estate owned 957 131
Net increase in earnings on investment in bank owned life insurance (346) (621)
Increase in accrued interest receivable and other assets (174) (545)
Decrease in accrued interest payable and other liabilities (1,501) (1,253)
Net Cash Provided by Operating Activities 4,096 22,455
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments on investment securities available for sale 2,195 4,784
Proceeds from sales of investment securities available for sale 48,965 0
Purchases of investment securities held to maturity 0 (318,800)
Proceeds from maturities, calls and principal repayments on investment securities held to maturity 38,203 0
Net decrease (increase) in loans 24,310 (23,791)
Proceeds on sale of SBA loans 0 1,465
Proceeds from bank owned life insurance 0 699
Proceeds from (purchases of) restricted stock 858 (818)
Reimbursements from the FDIC on Loss Sharing Agreements 118 1,977
Purchases of bank premises and equipment (406) (614)
Proceeds from sales of other real estate owned 2,844 895
Net Cash Provided by (Used in) Investing Activities 117,087 (334,203)
Cash Flows from Financing Activities    
Net increase in deposits 221,071 143,650
Net increase (decrease) in short-term borrowed funds (325,000) 0
Proceeds from issuance of common stock 0 15,534
Net Cash (Used in) Provided by Financing Activities (103,929) 159,184
Net Increase (Decrease) in Cash and Cash Equivalents 17,254 (152,564)
Cash and Cash Equivalents - Beginning 73,570 238,724
Cash and Cash Equivalents - Ending 90,824 86,180
Supplementary Cash Flows Information    
Interest paid 5,267 5,443
Income taxes paid 2,589 2,816
Non- cash items:    
Transfer of loans to other real estate owned 2,382 1,433
Investment securities purchased but not settled $ 0 $ 78,048