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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flow from operating activities    
Net Income $ 2,152 $ 1,227
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,110 3,251
(Increase) decrease in deferred income taxes (264) 1,486
Decrease in income taxes receivable 0 2,692
Decrease in income earned but not received 554 244
Decrease in interest accrued but not paid (236) (409)
Net decrease in other assets 3,542 987
Net increase (decrease) in other liabilities 1,526 (245)
Provision for credit losses 9,093 8,651
Gain on sale of loans held for sale (693) (712)
Originations of loans held for sale (39,615) (85,532)
Proceeds from sales of loans held for sale 114,549 81,919
(Gain) Loss on sale of premises, equipment and real estate acquired in settlement of loans (239) 955
Stock based compensation 67 40
Net cash provided by operating activities 93,546 14,554
Cash Flow from investing activities    
Purchases of securities available for sale (27,426) (45,007)
Purchases of securities held to maturity 0 (39,160)
Proceeds from sales/maturities of securities available for sale 58,566 62,169
Gain on sales of securities available for sale (1,961) 0
Net (increase) decrease in loans made to customers (626) 27,040
Proceeds from sale of premises, equipment and real estate acquired in settlement of loans 6,245 10,084
Expenditures for improvements to real estate acquired in settlement of loans, net of income received 52 46
Purchases of premises and equipment (1,991) (2,440)
Net cash provided by investing activities 32,859 12,732
Cash Flow from financing activities    
Net increase in demand deposits, NOW, money market and savings accounts 33,764 119,114
Net decrease in time deposits (59,670) (67,077)
Net decrease in other borrowings (15,000) (27,642)
Net decrease in borrowings from Federal Home Loan Bank (32,500) (41,500)
Dividends paid (1,310) (1,309)
Common stock distributed (acquired) 43 15
Net cash provided by (used for) financing activities (74,673) (18,399)
Increase in cash and cash equivalents 51,732 8,887
Cash and cash equivalents at the beginning of the period 29,075 44,840
Cash and cash equivalents at the end of the period 80,807 53,727
Cash paid during the periods for:    
Interest 7,113 13,116
Income Taxes 0 0
Supplemental disclosures of noncash transactions    
Transfer of loans to real estate acquired in settlement of loans 6,225 9,724
Accretion on U.S. Treasury preferred stock 149 150
Unrealized gains/(losses) on securities available for sale:    
Change in securities available for sale 1,555 (2,420)
Change in deferred income taxes (1,386) 317
Change in shareholders' equity $ (169) $ 2,103