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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities    
Net loss $ (42,263) $ (35,617)
Less: Income from discontinued operations 354 2,131
Net loss from continuing operations (42,617) (37,748)
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 100,961 107,615
Depreciation 4,198 4,463
Amortization of intangibles 307 307
Net increase in current & deferred income tax (25,871) (28,277)
Amortization of mark-to-market adjustments (294) (3,387)
Fair value of adjustments on other real estate owned 1,603 2,968
Amortization of unearned discounts on investments, net (1,453) (2,654)
Other-than-temporary impairment losses 710 2,623
Loans originated for sale (360,406) (174,067)
Proceeds from loans held for sale 247,389 186,865
Gain on sale of loans, net (3,164) (2,225)
(Gain) loss on sale of other real estate owned, net (732) 1,873
Recognition of stock-based compensation expense 390 288
Decrease (increase) in prepaid FDIC insurance premium 2,833 (12,165)
FDIC reimbursement of covered asset losses 11,266 0
Goodwill impairment 2,501 0
Gain on sale of property and equipment, net 0 (1,354)
Other 2,701 (9,987)
Discontinued operations, net 33,763 4,000
Net cash (used) provided by operating activities (25,915) 39,138
Investing Activities    
Proceeds from sales 775 21
Proceeds from maturities, calls and payments 88,889 117,790
Purchases (107,874) (33,577)
Proceeds from maturities, calls and payments, securities held to maturity 615 0
Redemption FHLB stock, net 5,242 0
Decrease in loans, net 90,148 (26,738)
Proceeds from sales of other real estate owned 9,617 17,348
Proceeds from sale of business 38,000 0
Decrease in property and equipment, net (2,806) (5,771)
Discontinued operations, net 608 (282)
Net cash provided by investing activities 123,214 68,791
Financing Activities    
Increase in demand and savings deposits, net 19,178 76,244
(Decrease) increase in time deposits, net (156,374) 67,604
Decrease in short term borrowings, net 0 (258,000)
Proceeds of FHLB advances, net 49,265 (14,387)
Proceeds from issuance of common stock, net 0 9,190
Exercise of stock options 0 12
Dividends paid on preferred stock (2,480) (2,440)
Dividends paid on common stock (2,437) (2,450)
Net cash used by financing activities (92,848) (124,227)
Net increase (decrease) in cash and cash equivalents 4,451 (16,298)
Cash and cash equivalents at beginning of period, continuing operations 55,274 74,622
Cash and cash equivalents at beginning of period, discontinued operations 5,274 3,691
Cash and cash equivalents at beginning of period 60,548 78,313
Cash and cash equivalents at end of period, continuing operations 64,999 57,024
Cash and cash equivalents at end of period, discontinued operations 0 4,991
Cash and cash equivalents at end of period 64,999 62,015
Supplemental disclosures:    
Interest 32,699 43,627
Income taxes 3,282 5,473
Loans foreclosed 28,553 12,354
Loans securitized into mortgage-backed securities 198,922 143,380
Unrealized (loss) gain on securities available for sale, net of income tax $ (4,836) $ 3,165