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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 5,423 $ 4,330
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,856 1,843
Depreciation, amortization and accretion, net 2,605 1,636
Stock-based compensation expense 26 26
Gains on investment securities, net (377) (246)
Other-than-temporary impairment losses recognized in earnings 246 978
(Gains) losses on sales of other real property owned, net 345 (218)
Loss on write down of fixed assets 1 1
Gains on sale of loans held for sale, net (239) (214)
Origination of loans held for sale (20,047) (16,130)
Proceeds from sale of loans held for sale 19,146 15,833
Increase in other assets (1,128) (3,464)
Increase (decrease) in other liabilities 2,261 (2,540)
Net cash provided by operating activities 10,118 1,835
Cash flows from investing activities:    
Proceeds from maturities of certificates of deposit investments 4,018 4,275
Purchases of certificates of deposit investments (6,167) (4,931)
Proceeds from sales of securities available-for-sale 11,140 6,367
Proceeds from maturities of securities available-for-sale 60,951 42,747
Proceeds from maturities of securities held-to-maturity 0 995
Purchases of securities available-for-sale (141,766) (75,850)
Net decrease in loans 3,675 25,376
Purchases of premises and equipment (896) (448)
Proceeds from sales of other real property owned 1,820 1,640
Net cash provided by (used in) investing activities (67,225) 171
Cash flows from financing activities:    
Net increase in deposits 4,352 28,759
(Increase) decrease in repurchase agreements 17,256 (6,628)
Repayment of long term FHLB advances (3,000) (10,000)
Proceeds from short term debt 0 1,500
Proceeds from issuance of common stock 254 195
Proceeds from issuance of preferred stock 19,250 0
Purchase of treasury stock (1,379) (560)
Dividends paid on preferred stock (1,074) (1,062)
Dividends paid on common stock (1,697) (1,714)
Net cash provided by financing activities 33,962 10,490
Increase (decrease) in cash and cash equivalents (23,145) 12,496
Cash and cash equivalents at beginning of period 231,493 90,411
Cash and cash equivalents at end of period 208,348 102,907
Cash paid during the period for:    
Interest 4,699 5,622
Income taxes 1,888 4,343
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate owned 687 6,084
Dividends reinvested in common stock 641 645
Net tax benefit related to option and deferred compensation plans $ 131 $ 38