XML 78 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2011
Operating Activities      
Net loss $ (34,172) $ (36,738) $ (41,178)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Amortization and accretion of investment securities premium (discount), net 1,013 1,083 2,814
Net (gain) loss on sale of investment securities 247 (6,579) (8,661)
Net impairment losses on investment securities 408 568 440
Origination of loans held for sale (898,960) (961,947) (780,100)
Proceeds from sale of loans held for sale 943,429 947,833 809,971
Net gain on sale of loans (23,195) (17,680) (17,925)
Provision for credit losses 9,125 33,578 51,198
Provision for OREO losses 26,733 15,338 15,125
Loss provision on deposit method OREO property 3,301    
Gain on sale of OREO (6,876) (6,118) (3,640)
Depreciation and amortization 3,079 3,494 4,104
Loss on disposal of premises and equipment, net 651 677  
Mortgage servicing rights impairment (recovery) (403) 2,410 (97)
Impairment of real estate held for development and sale 535 87  
Net gain on sale of branches     (7,350)
Stock-based compensation expense 55 256 305
Decrease in accrued interest receivable 2,512 4,278 3,805
(Increase) decrease in other assets 5,129 (1,749) 26,103
Increase in accrued interest and fees payable 17,963 15,001 8,198
Increase (decrease) in accrued taxes, insurance and employee related expenses 4 (224) 2,009
Increase (decrease) in other liabilities (10,412) 13,668 (1,132)
Net cash provided by (used in) operating activities 40,166 7,236 63,989
Investing Activities      
Proceeds from sale of investment securities 12,262 338,224 385,924
Proceeds from maturity of investment securities     69,526
Purchase of investment securities (81,202) (71,441) (631,640)
Principal collected on investment securities 46,251 39,226 59,971
Decrease in loans held for investment 302,907 352,039 483,152
Purchases of premises and equipment (434) (1,590) (1,394)
Proceeds from sale of premises and equipment     1,633
Proceeds from sale of OREO 54,498 70,481 42,359
Capitalized improvements of OREO (300)   (946)
Proceeds from sale of real estate held for development and sale   173 587
FHLB stock redemption 10,162 19,037  
Branch sales, net of cash and cash equivalents     (180,153)
Net cash provided by (used in) investing activities 344,144 746,149 229,019
Financing Activities      
Decrease in deposits (238,321) (435,140) (561,711)
Increase (decrease) in advance payments by borrowers for taxes and insurance (1,555) 622 (1,494)
Proceeds from borrowed funds 92,694 1,656,057 2,275,515
Repayment of borrowed funds (251,572) (1,838,959) (2,410,465)
Net cash provided by (used in) financing activities (398,754) (617,420) (698,155)
Net increase (decrease) in cash and cash equivalents (14,444) 135,965 (405,147)
Cash and cash equivalents at beginning of period 242,980 107,015 512,162
Cash and cash equivalents at end of period 228,536 242,980 107,015
Cash paid (received) or credited to accounts:      
Interest on deposits and borrowings 21,091 40,328 73,619
Income tax payments (receipts) (1,735) 10 (17,732)
Non-cash transactions:      
Transfer of loans to OREO 75,169 76,742 88,169
Transfer of premises and equipment to OREO 558 1,093  
Transfer of OREO to premises and equipment $ 2,870