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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities    
Net income $ 16,557 $ 9,902
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based and non-cash compensation 143 58
Depreciation and amortization 4,563 5,226
Provision for loan losses 10,000 22,200
Provision for deferred income taxes 7,116 3,820
Amortization of security premiums and discounts, net 2,822 2,394
Security losses (gains), net 2 (742)
Gain on sales of loans, net (4,467) (5,880)
Net loss on sales of OREO properties 178 223
Increase in cash surrender value of bank owned life insurance (802) (1,014)
Change in assets and liabilities:    
Decrease in other assets 6,787 4,572
Decrease in other liabilities (4,296) (1,125)
Decrease in interest payable (1,068) (2,269)
Decrease in income taxes receivable 710  
Net cash provided by operating activities before loan originations and sales 38,245 37,365
Loans originated for sale (195,648) (240,243)
Proceeds from sales of loans 224,919 234,053
Net cash provided by operating activities 67,516 31,175
Cash Flows from Investing Activities    
Proceeds from sales of securities classified available for sale 6,633 31,168
Proceeds from maturities of securities classified available for sale 53,942 104,476
Purchase of securities classified available for sale (202,615) (125,694)
Decrease in loans 156,291 148,645
Proceeds from sale of premises and equipment 946 48
Proceeds from sale of OREO properties 4,860 8,312
Purchases of premises and equipment (1,685) (1,001)
Net cash provided by investing activities 18,372 165,954
Cash Flows from Financing Activities    
Net decrease in certificates of deposit (140,145) (165,877)
Net increase in demand, money market and savings deposits 37,620 75,278
Cash dividends paid (9,624) (7,809)
Net decrease in securities sold under agreements to repurchase (12,186) (6,771)
Proceeds from short-term borrowings   4,000
Principal payments on long-term debt (23,325) (24,000)
Net cash used in financing activities (147,660) (125,179)
Net (decrease) increase in cash and due from banks (61,772) 71,950
Cash and due from banks, beginning 418,965 207,071
Cash and due from banks, ending 357,193 279,021
Cash payments for:    
Interest 13,659 24,842
Income taxes 906  
Non-cash investing and financing activities:    
Other real estate acquired in settlement of loans 2,733 6,468
Dividends accrued 768 760
Conversion of Series B Preferred stock to Common stock $ 31,862