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Consolidated Statements of Cash Flow Unaudited (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating Activities:    
Net income $ 9,075 $ 7,536
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 1,830 6,352
Depreciation of premises and equipment 1,394 1,446
Net amortization of security premiums/discounts 3,287 2,895
Gain on trading account securities (2) (1)
Gain on available for sale securities transactions (52) (42)
Amortization of intangibles 291 380
Stock option and restricted stock expense 69 67
Gain on sale of mortgage loans (3,922) (4,816)
Proceeds from sales of mortgage loans 123,480 148,517
Loans originated for sale (117,369) (147,165)
Deferred federal income tax benefit (558) (793)
Decrease in accrued interest receivable and other assets 2,937 568
Increase/(decrease) in accrued interest payable and other liabilities (699) 2,536
Net cash provided from operating activities 19,761 17,480
Investing Activities:    
Proceeds from sale of securities available for sale 6,332 2,705
Proceeds from maturities of CD’s 1,487 1,505
Proceeds from maturities and calls of securities available for sale 71,091 103,772
Purchases of securities available for sale (88,678) (115,482)
Proceeds from sale of premises and equipment 146 5
Net increase in portfolio loans (26,170) (2,155)
Proceeds from sale of other real estate owned 4,903 4,196
Net purchases of premises and equipment (1,077) (1,290)
Net cash used in investing activities (31,966) (6,744)
Financing Activities:    
Net (decrease)/increase in deposits (11,285) 4,319
Net increase/(decrease) in securities sold under agreements to repurchase and overnight borrowings 4,548 (857)
Repayment of Federal Home Loan Bank advances (2,632) (7,899)
Repurchase of preferred stock (17,000) (15,056)
Repurchase of stock warrants 0 (1,947)
Proceeds from Federal Home Loan Bank advances 0 8,000
Cash proceeds from issuance of common stock, net 776 539
Cash dividends on preferred stock (389) (1,040)
Cash dividends on common stock (1,451) (636)
Net cash used by financing activities (27,433) (14,577)
Decrease in cash and cash equivalents (39,638) (3,841)
Cash and cash equivalents at beginning of period 99,601 75,816
Cash and cash equivalents at end of period 59,963 71,975
Supplemental Disclosure:    
Interest Paid 4,669 6,658
Income Taxes Paid 3,925 3,400
Non cash transfers of loans to Other Real Estate Owned $ 4,084 $ 6,615