XML 38 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Condensed Consolidated Statements of Cash Flows (unaudited) [Abstract]    
Net Income $ 5,807 $ 3,504
Adjustments to Reconcile Net Income to Net Cash from Operating Activities    
Proceeds from sales of loans held for sale 131,495 116,422
Disbursements for loans held for sale (117,925) (108,082)
Provision for loan losses (691) 5,131
Deferred loan fees 133 (97)
Depreciation, amortization of intangible assets and premiums and accretion of discounts on securities and loans (1,040) (1,313)
Net gain on sale of property and equipment (1) 0
Net gains on mortgage loans (3,637) (3,860)
Net gains on securities (84) (684)
Securities impairment recognized in earnings 0 177
Net losses on other real estate and repossessed assets 652 987
Vehicle service contract counterparty contingencies 127 471
Share based compensation 236 45
Increase (decrease) in accrued income and other assets 2,573 (934)
Increase in accrued expenses and other liabilities 823 1,576
Total Adjustments 12,661 9,839
Net Cash from Operating Activities 18,468 13,343
Cash Flow used in Investing Activities    
Proceeds from the sale of securities available for sale 1,800 9,206
Proceeds from the maturity of securities available for sale 22,820 545
Principal payments received on securities available for sale 6,487 4,261
Purchases of securities available for sale (103,259) (150,607)
Purchases of interest bearing deposits (6,986) 0
Net cash from branch sale 3,292 0
Net decrease in portfolio loans (loans originated, net of principal payments) 26,729 34,293
Proceeds from the collection of vehicle service contract counterparty receivables 169 210
Proceeds from the sale of other real estate and repossessed assets 3,511 5,298
Proceeds from the sale of property and equipment, net 3 0
Capital expenditures (2,119) (2,827)
Net Cash used in Investing Activities (47,553) (99,621)
Cash Flow from Financing Activities    
Net increase in total deposits 71,256 98,187
Net increase in other borrowings 5 6
Proceeds from Federal Home Loan Bank advances 0 12,000
Payments of Federal Home Loan Bank advances 0 (12,354)
Net increase (decrease) in vehicle service contract counterparty payables (1,282) 180
Proceeds from issuance of common stock 954 0
Net Cash from Financing Activities 70,933 98,019
Net Increase in Cash and Cash Equivalents 41,848 11,741
Cash and Cash Equivalents at Beginning of Period 179,782 341,108
Cash and Cash Equivalents at End of Period 221,630 352,849
Cash paid during the period for    
Interest 1,810 3,034
Income taxes 6 131
Transfers to other real estate and repossessed assets 1,669 3,161
Transfer of payment plan receivables to vehicle service contract counterparty receivables 79 368
Purchase of securities available for sale not yet settled $ 2,565 $ 10,817