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CONSOLIDATED STATEMENT OF CASH FLOW (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2010
Sep. 30, 2011
Restated
OPERATING ACTIVITIES:    
Net income $ 33,246 $ 30,928
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 2,397 2,515
Amortization of premium 25,982 26,175
Accretion of discount and loan fees (3,497) (3,386)
Provision for loan losses 9,328 5,452
Stock compensation expense 0 143
Deferred tax expense 998 561
Gain on sale of securities carried at fair value through income 0 (592)
Gain on sale of securities available for sale (23,024) (9,080)
Fair value (gain) loss - securities 0 (7,357)
FHLB advance option impairment charges 0 7,819
Net other-than-temporary impairment losses 75 0
Loss (gain) on sale of assets (7) 3
Loss on retirement of assets 0 90
Impairment on other real estate owned 20 184
Gain on sale of other real estate owned (26) (242)
Net change in:    
Interest receivable 3,417 2,076
Other assets (4,726) (2,413)
Interest payable (696) (861)
Other liabilities 3,504 3,598
Loans held for sale (3,241) 1,092
Net cash provided by operating activities 43,750 56,705
Securities held to maturity:    
Purchases (258,935) (11,875)
Maturities, calls and principal repayments 55,656 34,097
Securities available for sale:    
Purchases (1,102,150) (512,910)
Sales 1,060,449 516,571
Maturities, calls and principal repayments 280,606 195,097
Securities carried at fair value through income:    
Purchases 0 (707,222)
Sales 0 180,723
Maturities, calls and principal repayments 0 32,132
Proceeds from redemption of FHLB stock 2,638 16,461
Purchases of FHLB stock and other investments (139) (10,806)
Net decrease (increase) in loans (15,193) 27,344
Purchases of premises and equipment (5,582) (2,951)
Proceeds from sales of premises and equipment 38 6
Proceeds from sales of other real estate owned 948 676
Proceeds from sales of repossessed assets 3,713 3,933
Net cash (used in) provided by investing activities 22,049 (238,724)
FINANCING ACTIVITIES:    
Net increase in demand and savings accounts 117,405 133,513
Net increase in certificates of deposit 49,927 30,099
Net decrease in federal funds purchased and repurchase agreements (9,514) (847)
Proceeds from FHLB advances 6,119,530 8,005,080
Repayment of FHLB advances (6,304,778) (8,004,991)
Net capital distributions to noncontrolling interest in consolidated entities (310) (475)
Purchase of noncontrolling interest 0 (4,750)
Tax benefit of incentive stock options 328 2
Purchase of common stock (4,716) 0
Proceeds from the issuance of common stock 1,251 860
Dividends paid (7,916) (8,414)
Net cash provided by (used in) financing activities (38,793) 150,077
Net (decrease) increase in cash and cash equivalents 27,006 (31,942)
Cash and cash equivalents at beginning of period 52,166 79,073
Cash and cash equivalents at end of period 79,172 47,131
SUPPLEMENTAL DISCLOSURES FOR CASH FLOW INFORMATION:    
Interest paid 35,525 28,301
Income taxes paid 9,550 6,500
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Acquisition of other repossessed assets and real estate through foreclosure 5,416 4,790
Adjustment to pension liability (939) (1,066)
5% stock dividend 15,513 15,995
Unsettled trades to purchase securities (18,160) 0
Unsettled trades to sell securities $ 18,723 $ 0