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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flow From Operating Activities:  
Net Income$ 17,691$ 2,878
Adjustments to reconcile net income to net cash provided by operating activities:  
Provision for loan losses16,77539,405
Depreciation and amortization3,9984,289
Share-based compensation1,0091,369
Tax expense from stock compensation 48
Mortgage loans originated for sale(185,658)(163,235)
Proceeds from sales of mortgage loans194,870155,881
Gains on sales of securities available for sale(2,149)(2,101)
Recognized loss on other-than-temporary-impairment4001,544
Change in interest receivable904508
Change in interest payable(2,076)(1,700)
Other adjustments21,38221,532
Net cash provided by operating activities67,14660,418
Cash Flows from Investing Activities:  
Net change in interest-bearing deposits49,101(40,376)
Purchases of:  
Securities available for sale(133,526)(201,560)
Securities held to maturity(77,678)(58,076)
Proceeds from sales of securities available for sale54,60664,314
Proceeds from maturities of:  
Securities available for sale37,89450,929
Securities held to maturity28,12022,191
Proceeds from redemptions of Federal Reserve and Federal Home Loan Bank stock2,5032,305
Purchase of bank owned life insurance(25,000) 
Net change in loans73,520285,024
Proceeds from the sale of other real estate owned9,91614,080
Other adjustments6,921(1,259)
Net cash provided by investing activities26,377137,572
Net change in :  
Demand and savings deposits(54,157)8,273
Certificates of deposit and other time deposits(150,473)(290,458)
Borrowings242,3232,154
Repayment of borrowings(168,894)(55,303)
Cash dividends on common stock(778)(731)
Cash dividends on preferred stock(2,527)(4,495)
Stock issued in private equity placement21,16524,150
Stock issued under dividend reinvestment and stock purchase plans621526
Stock redeemed(127)(77)
Cumulative preferred stock issued (SBLF)90,783 
Cumulative preferred stock redeemed (CPP)(69,600) 
Tax (expense) benefit from stock options exercised (48)
Net cash used in financing activities(91,664)(316,009)
Net Change in Cash and Cash Equivalents1,859(118,019)
Cash and Cash Equivalents, January 158,307179,147
Cash and Cash Equivalents, September 3060,16661,128
Additional cash flow information:  
Interest paid32,07345,245
Income tax refunded(2,977)(6,035)
Exchange of preferred stock for trust preferred debt 46,400
Loans transferred to other real estate owned12,64623,524
Non-cash investing activities using trade date accounting$ (2,298)$ 1,305