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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Operating Activities    
Net Income $ 5,253 $ 1,739
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for loan losses 5,972 6,745
Depreciation 1,366 1,380
Amortization of intangibles 452 90
Net (increase) decrease in current & deferred income tax (1,409) 4,510
Accretion and amortization of purchase accounting adjustments (6,278) (1,246)
Fair value adjustments on other real estate owned 2,001 2,420
Amortization of unearned premiums on investments, net 302 189
Other-than-temporary impairment on investment securities 268 69
Loans originated for sale (156,401) (162,244)
Proceeds from loans held for sale 181,983 162,281
Gain on sale of loans, net (3,420) (3,159)
Gain on sale of other real estate owned, net (214) (643)
Gain on sale of premises and equipment (288) (38)
Bank owned life insurance income (373) 0
Recognition of stock-based compensation expense 27 46
FDIC reimbursement of covered asset losses 20,738 4,760
FDIC indemnification asset impairment 3,806 0
FDIC true-up liability release (1,321) 0
Other (4,224) (960)
Net cash provided by operating activities 48,240 15,939
Investing Activities    
Proceeds from maturities, calls and payments 15,678 26,009
Purchases (74,928) (63,085)
Proceeds from maturities, calls and payments; securities held to maturity 699 666
Decrease (increase) in nonmarketable securities, net 1,669 (5,271)
Decrease in loans, net 14,170 12,099
Proceeds from sales of other real estate owned 5,374 6,391
Decrease (increase) in premises and equipment, net 376 (1,581)
Payment to acquire Plantation premises and equipment (3,364) 0
Net cash used in investing activities (40,326) (24,772)
Financing Activities    
Increase in demand and savings deposits, net 53,240 74,701
Decrease in time deposits, net (47,754) (49,380)
Repayments of FHLB advances, net 0 (28,000)
Proceeds from exercise of stock options 88 0
Dividends paid on common stock (826) (826)
Dividends paid on preferred stock (813) (813)
Net cash provided by (used in) financing activities 3,935 (4,318)
Net increase (decrease) in cash and cash equivalents 11,849 (13,151)
Cash and cash equivalents at beginning of period 117,451 76,675
129,300 63,524
Cash paid during the period for    
Interest 6,513 9,017
Income taxes 4,855 16
Loans transferred to OREO 4,704 9,480
Loans securitized into mortgage-backed securities $ 71,131 $ 127,401