XML 57 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOW (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Activities    
Net income $ 12,993 $ 12,172
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 5,600 9,600
Depreciation expense 2,730 2,546
Amortization of mortgage servicing rights 933 552
Valuation allowance on mortgage servicing rights 226  
Securities amortization, net 2,187 1,103
Stock based compensation expense 344 134
Amortization of purchased intangible assets 900 984
Earnings on cash surrender value of life insurance policies (567) (594)
Gain on life insurance benefit   (141)
Securities gains (535) (3,654)
Loss on sale and write-down of OREO 213 561
Gain on loans sold (2,703) (1,510)
Loans originated for sale (99,336) (73,243)
Proceeds from loan sales 107,781 76,076
Change in other assets and liabilities (398) 2,807
Net cash provided by operating activities 30,368 27,393
Investing Activities    
Purchases of securities available for sale (93,938) (199,816)
Proceeds from calls, maturities, and payments on securities available for sale 55,739 65,032
Proceeds from sales of securities available for sale 20,886 120,600
Proceeds from life insurance benefit   893
Proceeds from sale of OREO 8,452 9,667
Loan originations and payment, net (22,277) 41,064
Purchases of premises and equipment (1,818) (3,447)
Proceeds from redemption of restricted stock 11 2,191
Net cash provided/(used) by investing activities (32,945) 36,184
Financing Activities    
Net change in deposits 25,196 32,082
Net change in other borrowings (1,361) 7,627
Repayment of FHLB advances (5,277) (10,373)
Proceeds from exercise of stock options 66  
Repurchase of preferred stock (21,324)  
Cash dividends on preferred stock (1,154) (1,425)
Cash dividends on common stock (405) (403)
Net cash provided/(used) by financing activities (4,259) 27,508
Net change in cash and cash equivalents (6,836) 91,085
Cash and cash equivalents, beginning of year 109,148 60,123
Cash and cash equivalents, end of period $ 102,312 $ 151,208