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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Interest received $ 56,456 $ 58,747
Fees and commissions received 18,095 15,354
Interest paid (4,254) (7,384)
Cash paid to suppliers and employees (47,883) (52,860)
Origination of loans held for sale (169,052) (133,378)
Proceeds from loans held for sale 190,751 122,452
Net change in other assets 1,813 (716)
Net cash provided by operating activities 45,926 2,215
Cash flows from investing activities    
Maturity of securities available for sale 130,122 95,658
Maturity of securities held for investment 0 4,728
Proceeds from sale of securities available for sale 67,330 248,509
Purchase of securities available for sale (208,066) (280,189)
Purchase of securities held for investment 0 (500)
Net new loans and principal repayments (44,474) (23,821)
Proceeds from the sale of other real estate owned 8,312 16,683
Proceeds from sale of Federal Home Loan Bank and Federal Reserve Bank stock 753 296
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (61) (60)
Additions to bank premises and equipment (2,233) (2,948)
Net cash (used in) provided by investing activities (48,317) 58,356
Cash flows from financing activities    
Net decrease in deposits (60,049) (39,269)
Net increase in federal funds purchased and repurchase agreements (2,465) (13,859)
Purchase of stock warrants, net of related expenses 0 (81)
Stock based employee benefit plans 144 150
Dividends paid on preferred shares (1,875) (1,875)
Net cash provided (used) by financing activities (64,245) (54,934)
Net (decrease) increase in cash and cash equivalents (66,636) 5,637
Cash and cash equivalents at beginning of period 174,987 167,081
Cash and cash equivalents at end of period 108,351 172,718
Reconciliation of net income to cash provided by operating activities    
Net income 50,139 (950)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,045 2,111
Amortization of premiums and discounts on securities, net 3,388 3,392
Other amortization and accretion, net 371 21
Change in loans held for sale, net 21,699 (10,926)
Provision for loan losses 2,698 9,660
Gain on sale of securities (419) (7,037)
Gain on sale of loans (471) (657)
Losses on sale and write-downs of other real estate owned 1,295 3,390
Losses on disposition of fixed assets 2 180
Change in interest receivable 137 446
Change in interest payable (35) (504)
Change in prepaid expenses 4,729 2,298
Change in accrued taxes (41,074) 461
Change in other assets 1,813 (716)
Change in other liabilities (391) 1,046
Net cash provided by operating activities 45,926 2,215
Supplemental disclosure of non cash investing activities:    
Fair value adjustment to securities (16,527) (1,081)
Transfer from loans to other real estate owned 3,307 8,274
Transfers from commercial loans to loans held for sale 0 10,321
Securities principal receivable recorded in other assets 702 2,419
Transfer of other real estate owned to other assets 0 1,923
Transfer from securities held for investment to securities available for sale $ 13,818 $ 0