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Consolidated Statements of Cash Flows - (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows From Operating Activities    
Net income available to common shareholders $ 16,252,000 $ 806,000
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for loan losses 14,654,000 6,550,000
Provision for depreciation and amortization 1,447,000 967,000
Stock-based compensation 1,616,000 515,000
Deferred taxes (1,112,000) 0
Net amortization (accretion) of investment securities premiums and discounts 2,897,000 (282,000)
Gain on sale of investment securities (9,006,000) (1,413,000)
Gain on sale of loans (268,000) (377,000)
Origination of loans held for sale (7,305,339,000) (1,685,972,000)
Proceeds from the sale of loans held for sale 6,292,453,000 1,680,915,000
Increase in FDIC loss sharing receivable (4,537,000) (1,709,000)
(Accretion) amortization of fair value discounts (277,000) 330,000
Net loss (gain) on sales of other real estate owned 985,000 (235,000)
Impairment charges on other real estate owned 468,000 1,156,000
Change in investment in bank-owned life insurance (1,035,000) (1,128,000)
Increase in accrued interest receivable and other assets (1,081,000) (22,459,000)
Decrease in accrued interest payable and other liabilities (2,190,000) (2,456,000)
Net Cash Used in Operating Activities (994,073,000) (24,792,000)
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of investment securities available for sale 26,488,000 16,847,000
Proceeds from sales of investment securities available for sale 306,610,000 112,757,000
Purchases of investment securities available for sale (108,249,000) (72,960,000)
Purchases of investment securities held to maturity 0 (396,835,000)
Proceeds from maturities, calls and principal repayments of investment securities held to maturity 50,968,000 35,647,000
Net decrease (increase) in loans 302,275,000 (220,626,000)
Purchase of loan portfolio (63,246,000) (13,000,000)
Proceeds from sales of SBA loans 3,689,000 5,172,000
Net cash proceeds from bank acquisition 0 19,207,000
Proceeds from bank-owned life insurance 0 273,000
Purchases of bank-owned life insurance (10,000,000) 0
Purchases of restricted stock (763,000) (10,364,000)
Reimbursements from the FDIC on loss sharing agreements 5,308,000 6,551,000
Purchases of bank premises and equipment (2,343,000) (1,725,000)
Proceeds from sales of other real estate owned 7,383,000 5,377,000
Net Cash Provided by (Used in) Investing Activities 518,120,000 (513,679,000)
Cash Flows from Financing Activities    
Net increase in deposits 765,131,000 214,269,000
Net (decrease) increase in short-term borrowed funds (300,000,000) 110,000,000
Payment of preferred dividend 0 (218,000)
Proceeds from issuance of common stock, net 94,762,000 28,526,000
Net Cash Provided by Financing Activities 559,893,000 352,577,000
Net Increase (Decrease) in Cash and Cash Equivalents 83,940,000 (185,894,000)
Cash and Cash Equivalents - Beginning 73,570,000 238,724,000
Cash and Cash Equivalents - Ending 157,510,000 52,830,000
Supplementary Cash Flows Information    
Interest paid 16,257,000 17,212,000
Income taxes paid 12,625,000 2,816,000
Non- cash items:    
Transfer of loans to other real estate owned 8,293,000 7,793,000
Transfer of held to maturity investments to available for sale 268,671,000 0
Berkshire Bancorp, Inc. Acquisition:    
Assets acquired 0 134,110,000
Liabilities assumed $ 0 $ 122,836,000