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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities    
Interest received $ 40,622 $ 44,235
Fees and commissions received 8,837 9,378
Interest paid (7,001) (9,761)
Cash paid to suppliers and employees (30,688) (34,371)
Income taxes received (paid) (6) 20,789
Origination of loans held for sale (67,572) (79,194)
Proceeds from loans held for sale 75,333 91,239
Net change in other assets 667 394
Net cash provided by operating activities 20,192 42,709
Cash flows from investing activities    
Maturities of securities available for sale 59,551 66,102
Maturities of securities held for investment 2,639 2,345
Proceeds from sale of securities available for sale 2,155 81,593
Proceeds from sale of securities held for investment 0 5,452
Purchases of securities available for sale (223,114) (131,471)
Purchase of securities held for investment (1,526) 0
Net new loans and principal repayments 14,368 54,290
Proceeds from sale of loans 1,450 14,293
Proceeds from the sale of other real estate owned 30,284 6,278
Proceeds from sale of Federal Home Loan Bank and Federal Reserve Bank stock 960 1,802
Additions to bank premises and equipment (368) (268)
Net cash (used in) provided by investing activities (113,601) 100,416
Cash flows from financing activities    
Net increase (decrease) in deposits 44,242 (63,555)
Net increase (decrease) in federal funds purchased and repurchase agreements 4,614 (30,363)
Issuance of common stock, net of related expenses 0 47,871
Stock based employee benefit plans 39 107
Dividends paid 0 0
Net cash provided (used in) financing activities 48,895 (45,940)
Net (decrease) increase in cash and cash equivalents (44,514) 97,185
Cash and cash equivalents at beginning of period 211,405 215,100
Cash and cash equivalents at end of period 166,891 312,285
Reconciliation of net income (loss) to net cash provided by operating activities    
Net income (loss) 1,471 (15,360)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 1,466 1,570
Amortization of premiums and discounts on securities, net 1,116 33
Other amortization and accretion, net (412) 246
Change in loans held for sale, net 7,761 12,045
Provision for loan losses 1,542 18,839
Gains on sale of securities 0 (3,477)
Gains on sale of loans (93) (64)
Losses on sale and write-downs of other real estate owned 1,651 3,862
Losses (gains) on disposition of fixed assets 55 (34)
Change in interest receivable (114) 1,057
Change in interest payable 458 269
Change in prepaid expenses 1,986 2,212
Change in accrued taxes 273 21,202
Net change in other assets 667 394
Change in other liabilities 2,365 (85)
Net cash provided by operating activities 20,192 42,709
Supplemental disclosures of non-cash investing activities:    
Fair value adjustment to securities 5,182 3,626
Transfer from loans to other real estate owned 30,369 3,840
Transfer from loans to loans available for sale 0 1,005
Purchase of securities on trade date $ 10,438 $ 0