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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 33,777 $ 3,225 $ (91,213)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, amortization and accretion 8,994 8,778 8,281
Amortization of tax credits 848 1,085 1,320
Deferred income tax provision (benefit) (21,661) (2,540) 11,926
Amortization of intangibles 358 279 358
Provision for credit losses 8,133 18,652 90,057
Goodwill impairment 0 0 13,059
Decrease in accrued interest receivable 158 892 591
Decrease (increase) in other assets 1,740 30,070 (15,350)
Net other-than-temporary impairment losses on securities 179 0 192
Gains on sales of securities, net (713) (1,562) (833)
Net loss on disposal of premises and equipment 1,219 61 186
Net other real estate owned valuation adjustments and loss (gain) on sales 3,236 4,415 26,953
Gains on sale of loans (1,335) (1,197) (1,738)
Origination of loans held for sale (40,815) (34,927) (66,485)
Proceeds from sales of loans held for sale 41,971 34,198 69,907
Increase (decrease) in interest payable (2,164) 504 359
Increase (decrease) in other liabilities (1,024) 1,294 3,345
Increase in cash surrender value of bank owned life insurance (915) (896) (892)
Stock based compensation expense 1,899 2,089 1,520
Excess tax benefit associated with stock plans (66) 0 0
Decrease (increase) in trading securities 61 (77) 815
Net cash provided by operating activities 33,880 64,343 52,358
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from maturities of available for sale securities 298,490 288,050 69,140
Proceeds from sales of available for sale securities 45,283 77,551 36,189
Purchase of available for sale securities (421,154) (449,665) (467,360)
Purchase of Federal Home Loan Bank stock 0 0 (1,305)
Investments in tax credits 0 0 (9)
Loans made to customers less than principal collected on loans 692 138,459 185,293
Proceeds from the sale of other real estate owned 27,062 38,106 68,670
Capital expenditures on other real estate owned (528) (3,234) (4,881)
Capital expenditures on premises and equipment (2,216) (2,265) (1,275)
Net cash provided (used) by investing activities (52,371) 87,002 (115,538)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in demand, savings and interest bearing transaction accounts 84,050 42,752 182,273
Net decrease in time deposits (102,294) (249,114) (59,768)
Proceeds from issuance of short-term borrowings 168,918 0 347,600
Repayment of short-term borrowings (208,118) (17,600) (479,600)
Proceeds from issuance of long-term borrowings 120,000 4,400 192,240
Repayment of long-term borrowings (129,399) (81,500) (20,000)
Proceeds from issuance of preferred stock, net of costs 0 0 139,248
Proceeds from secured borrowings 0 7,991 0
Proceeds from issuance of common stock-Rights Offering 0 10,000 0
Costs of issuance of common stock-Rights Offering 0 (650) 0
Proceeds from issuance of common stock-Discretionary Program 0 7,856 0
Costs of issuance of common stock-Discretionary Program 0 (817) 0
Activity in deferred compensation plan (27) 262 (1)
Proceeds from issuance of common stock-Stock Options 80 4 0
Fractional share payment (18) 0 0
Redemption of stock pursuant to stock plans (531) (35) (22)
Excess tax benefits associated with stock plans 66 0 0
Cash dividends paid 0 0 (471)
Net cash provided (used) by financing activities (67,273) (276,451) 301,499
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (85,764) (125,106) 238,319
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 177,991 303,097 64,778
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 92,227 $ 177,991 $ 303,097