XML 21 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2010
Jun. 30, 2011
Restated
OPERATING ACTIVITIES:    
Net income $ 21,946 $ 22,365
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 1,568 1,646
Amortization of premium 18,038 16,782
Accretion of discount and loan fees (2,545) (2,327)
Provision for loan losses 6,127 3,998
Stock compensation expense 0 26
Deferred tax expense (benefit) 171 1,467
Gain on sale of securities carried at fair value through income 0 (338)
Gain on sale of securities available for sale (15,016) (5,471)
Net other-than-temporary impairment losses 75 0
Fair value (gain) loss - securities 0 (4,083)
Loss (gain) on sale of assets (7) 3
Loss on retirement of assets 0 90
Impairment on other real estate owned 20 145
Gain on sale of other real estate owned (12) (221)
Net Change in:    
Interest receivable 1,098 (1,370)
Other assets (1,513) (2,593)
Interest payable (548) (575)
Other liabilities 2,799 2,364
Loans held for sale (681) 3,845
Net cash provided by operating activities 31,520 35,753
Securities held to maturity:    
Purchases (258,935) (6,394)
Maturities, calls and principal repayments 38,012 23,373
Securities available for sale:    
Purchases (775,431) (350,206)
Sales 799,647 326,701
Maturities, calls and principal repayments 209,582 138,176
Securities carried at fair value through income:    
Purchases 0 (344,728)
Sales 0 16,248
Maturities, calls and principal repayments 0 13,919
Proceeds from redemption of FHLB stock 2,638 14,811
Purchases of FHLB stock and other investments (105) (5,623)
Net increase in loans 8,995 32,740
Purchases of premises and equipment (3,600) (2,169)
Proceeds from sales of premises and equipment 38 6
Proceeds from sales of other real estate owned 722 306
Proceeds from sales of repossessed assets 2,740 2,767
Net cash (used in) provided by investing activities 24,303 (140,073)
FINANCING ACTIVITIES:    
Net increase in demand and savings accounts 135,317 87,107
Net increase (decrease) in certificates of deposit (57,713) 22,511
Net decrease in federal funds purchased and repurchase agreements (9,552) (767)
Proceeds from FHLB advances 4,261,610 3,349,032
Repayment of FHLB advances (4,387,008) (3,378,823)
Net capital distributions to noncontrolling interest in consolidated entities (310) (475)
Tax benefit of incentive stock options 316 2
Purchase of common stock (24) 0
Proceeds from the issuance of common stock 901 567
Dividends paid (5,241) (5,453)
Net cash provided by (used in) financing activities (61,704) 73,701
Net decrease in cash and cash equivalents (5,881) (30,619)
Cash and cash equivalents at beginning of period 52,166 79,073
Cash and cash equivalents at end of period 46,285 48,454
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:    
Interest paid 23,914 19,378
Income taxes paid 4,650 3,500
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Acquisition of other repossessed assets and real estate through foreclosure 3,747 2,779
Adjustment to pension liability (626) (711)
5% stock dividend 15,513 15,995
Unsettled trades to purchase securities (2,280) (9,145)
Unsettled trades to sell securities $ 24,396 $ 31,919