XML 38 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities    
Interest received $ 36,653 $ 36,991
Fees and commissions received 10,959 11,614
Interest paid (2,573) (2,887)
Cash paid to suppliers and employees (38,448) (30,352)
Origination of loans held for sale (85,424) (120,188)
Proceeds from loans held for sale 81,127 130,180
Net change in other assets 484 1,712
Net cash provided by operating activities 2,778 27,070
Cash flows from investing activities    
Maturity of securities available for sale 45,851 91,770
Maturity of securities held for investment 2,270 0
Proceeds from sale of securities available for sale 4,061 55,519
Purchase of securities available for sale (75,785) (168,355)
Net new loans and principal repayments (32,433) (45,601)
Proceeds from the sale of other real estate owned 2,215 3,448
Proceeds from sale of Federal Home Loan Bank and Federal Reserve Bank stock 600 620
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock 0 (61)
Additions to bank premises and equipment (1,713) (1,904)
Net cash used in investing activities (54,934) (64,564)
Cash flows from financing activities    
Net decrease in deposits (508) (20,352)
Net increase (decrease) in federal funds purchased and repurchase agreements (9,648) 24,131
Issuance of common stock, net of related expense 24,637 0
Stock based employee benefit plans 81 97
Dividends paid on preferred shares 0 (1,250)
Net cash provided by financing activities 14,562 2,626
Net decrease in cash and cash equivalents (37,594) (34,868)
Cash and cash equivalents at beginning of period 191,624 174,987
Cash and cash equivalents at end of period 154,030 140,119
Reconciliation of net income to cash provided by operating activities    
Net income 4,217 4,998
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,576 1,340
Amortization of premiums and discounts on securities, net 963 2,498
Other amortization and accretion, net 545 51
Change in loans held for sale, net (4,297) 9,992
Provision (recapture) for loan losses (2,179) 1,518
Gain on sale of securities (17) (139)
Gain on sale of loans (668) (802)
Losses on sale and write-downs of other real estate owned 145 1,066
Losses on disposition of fixed assets (10) (2)
Change in interest receivable 38 (136)
Change in interest payable (20) (31)
Change in prepaid expenses (408) 4,527
Change in accrued taxes 3,150 372
Change in other assets 484 1,712
Change in other liabilities (741) 106
Net cash provided by operating activities 2,778 27,070
Supplemental disclosure of non cash investing activities:    
Transfer from loans to other real estate owned 1,658 2,624
Matured securities recorded as a receivable 372 2,413
Purchase of securities on trade date 0 9,961
Transfer from securities held for investment to securities available for sale 0 13,818
Transfer from securities available for sale to securities held for investment 158,781 0
AFS securities [Member]
   
Supplemental disclosure of non cash investing activities:    
Fair value adjustment $ 13,895 $ (13,476)