XML 40 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 24,122 $ 17,766
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,976 7,784
Provision for loan losses 11,408 23,179
Deferred income taxes 3,173 1,907
Other-than-temporary impairment on securities   100
Gain on sale of securities (61) (333)
Gains on acquisitions   (16,529)
Gains on OREO sales (6,961) (2,089)
Share-based compensation expense 1,292 1,341
Loss on disposal of premises and equipment 2 61
Amortization of FDIC indemnification asset 14,226 7,049
Accretion on acquired loans (36,983) (11,905)
Net amortization of investment securities 2,671 1,136
OREO write downs 13,648 17,739
Net change in:    
Loans held for sale (25,776) (3,166)
Accrued interest receivable 2,682 593
Prepaid assets 1,108 2,748
FDIC loss share receivable 74,105 68,570
Accrued interest payable (1,443) (3,964)
Accrued income taxes (9,071) (1,325)
Miscellaneous assets and liabilities (40,956) (39,857)
Net cash provided by operating activities 36,162 70,805
Cash flows from investing activities:    
Proceeds from sales of investment securities available for sale 25,359 52,282
Proceeds from maturities and calls of investment securities held to maturity   1,240
Proceeds from maturities and calls of investment securities available for sale 73,306 70,222
Proceeds from sales of other investment securities 12,429 5,651
Purchases of investment securities available for sale (110,081) (108,366)
Purchases of other investment securities   (1,041)
Net (increase) decrease in customer loans 90,835 (37,540)
Net cash received from acquisitions 10,923 136,716
Purchases of premises and equipment (11,509) (12,922)
Proceeds from sale of premises and equipment 33 26
Proceeds from sale of OREO 50,884 41,322
Net cash provided by investing activities 142,179 147,590
Cash flows from financing activities:    
Net decrease in deposits (100,243) (257,725)
Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase and other short-term borrowings 36,352 (8,090)
Repayment of FHLB advances and other borrowings (875) (59,128)
Common stock issuance 361 35,181
Common stock repurchased (674) (252)
Dividends paid on common stock (7,522) (7,131)
Stock options exercised 899 423
Net cash used in financing activities (71,702) (296,722)
Net increase (decrease) in cash and cash equivalents 106,639 (78,327)
Cash and cash equivalents at beginning of period 171,425 237,099
Cash and cash equivalents at end of period 278,064 158,772
Cash paid for:    
Interest 9,076 18,614
Income taxes 18,216 8,240
Noncash investing activities:    
Transfers of loans to foreclosed properties (covered of $19,146 and $33,697, respectively; and non-covered of $21,185 and $19,801, respectively) $ 40,331 $ 53,498