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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    
Net income (loss) $ (21,445) $ 6,007
Adjustments to reconcile net income / (loss) to net cash provided by operating Activities    
Provision for loan losses 28,229 8,638
Depreciation and amortization 3,442 3,619
Security amortization and accretion, net 199 235
Write down of investments for impairment   93
Net gain on sale of mortgage loans (185) (222)
Originations of mortgage loans held for sale (14,560) (18,759)
Proceeds from sales of mortgage loans 15,427 19,685
Increase in cash surrender value of life insurance (561) (595)
Net losses from sales of fixed assets 223 5
Stock-based compensation expense 287 316
Net loss on other real estate and repossessed assets 6,429 1,435
Deferred tax benefit   (516)
Net changes:    
Other assets 12,193 6,631
Accrued interest payable and other liabilities 2,779 (3,561)
Net cash provided by operating activities 32,457 23,011
Cash flows from investing activities    
Purchase of securities available for sale (59,790) (85,684)
Proceeds from maturities of securities available for sale 45,868 70,025
Proceeds from maturities of securities held to maturity 465 10
Net change in loans 111,627 77,775
Proceeds from sale of other real estate 15,154 8,357
Improvements to other real estate (261) (450)
Proceeds from sale of fixed assets 7  
Premises and equipment expenditures (516) (951)
Net cash provided by investing activities 112,554 69,082
Cash flows from financing activities    
Net change in deposits (93,466) (87,072)
Net change in brokered deposits   (5,185)
Net change in repurchase agreements (700) (209)
Repayments of FHLB advances and notes payable (794) (161)
Preferred stock dividends paid   (1,805)
Net cash (used) in financing activities (94,960) (94,432)
Net change in cash and cash equivalents 50,051 (2,339)
Cash and cash equivalents, beginning of period 294,214 210,494
Cash and cash equivalents, end of period 344,265 208,155
Supplemental disclosures - cash and noncash    
Interest paid 13,313 20,639
Loans converted to other real estate 41,261 30,879
Unrealized gain on available for sale securities, net of tax 1,113 1,863
Loans Originated to finance / sell other real estate 1,568  
Preferred Dividends Declared $ 1,806