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Consolidated Statements Of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 11,539 $ 10,526
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,701 1,776
Net amortization of premiums on securities 2,825 1,002
Provision for loan losses 2,138 2,523
Share-based compensation 576 542
Deferred income tax expense 1,206 828
Proceeds from sale of loans held for sale 14,162 14,284
Originations of loans held for sale (11,618) (14,594)
Increase in company owned life insurance (545) (551)
Net gain on sale of loans held for sale (341) (177)
Net gain on disposal of investment securities (7) (69)
Impairment charges on investment securities   526
Net gain on sale and disposal of other assets (37) (2)
Decrease in other assets 1,204 294
Increase in other liabilities 1,204 1,322
Net cash provided by operating activities 24,007 18,230
Cash flows from investing activities:    
Available for sale (124,096) (196,238)
Held to maturity (7,428) (8,251)
Proceeds from principal payments, maturities and calls on investment securities:    
Available for sale 88,512 100,160
Held to maturity 11,649 19,979
Proceeds from sales and calls of securities available for sale 8,900 33,090
Net loan originations (37,715) (28,178)
Purchases of company owned life insurance (34) (33)
Proceeds from sales of other assets 165 411
Purchases of premises and equipment (1,410) (1,250)
Net cash used in investing activities (61,457) (80,310)
Cash flows from financing activities:    
Net (decrease) increase in deposits (10,651) 78,990
Net increase (decrease) in short-term borrowings 55,285 (12,657)
Repayments of long-term borrowings (65) (79)
Proceeds from issuance of common stock, net of issuance costs 43,127  
Purchases of common stock for treasury (205)  
Repurchase of warrant issued to U.S. Treasury (2,080)  
Redemption of Series A preferred stock (37,447)  
Repurchase of Series B-1 8.48% preferred stock (96)  
Proceeds from stock options exercised 91 129
Excess tax benefit on share-based compensation 64  
Cash dividends paid to preferred shareholders (1,380) (1,679)
Cash dividends paid to common shareholders (2,167) (2,164)
Net cash provided by financing activities 44,476 62,540
Net increase in cash and cash equivalents 7,026 460
Cash and cash equivalents, beginning of period 39,058 42,959
Cash and cash equivalents, end of period $ 46,084 $ 43,419