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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating activities:    
Net income (loss) $ (509) $ 8,783
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 29,190 16,307
Provision and adjustments to other real estate 1,452 565
Deferred tax expense (benefit) 4,113 (1,927)
Asset depreciation 1,351 1,427
Securities premium amortization, net of discount accretion 1,123 898
Amortization of intangibles 582 709
Stock based compensation expense 179 185
Net gain on sales/calls of investment securities   (41)
Net gain on sales of available for sale loans (595) (1,401)
Net loss on sales of premises/equipment 13 108
Net gain on sales of other real estate (167) (185)
Proceeds from sales of held for sale loans 28,064 88,942
Held for sale loans originated for resale (29,284) (57,760)
Net changes in assets and liabilities:    
Accrued interest receivable 617 1,217
Other assets 1,922 8,028
Income taxes receivable / payable (14,394) (419)
Excess tax expense (benefit) from share-based payment arrangements 123 (14)
Accrued interest payable (3) (624)
Other liabilities (1,124) (2,836)
Net cash provided by operating activities 22,653 61,962
Proceeds from principal repayments, calls and maturities:    
Held to maturity securities 2,345  
Available for sale securities 31,177 39,618
Proceeds from sales of other investments   588
Purchases of other investments (28) (352)
Purchases of available for sale securities (37,116) (36,329)
Principal repayments, net of loans originated 128,091 41,610
Purchases of premises and equipment (773) (592)
Proceeds from sales of premises and equipment 48 58
Proceeds from sales of other real estate 12,452 5,620
Net cash provided from investing activities 136,196 50,221
Financing activities:    
Net decrease in deposits (158,492) (147,791)
Net increase (decrease) in other borrowings 2,080 (9,986)
Net proceeds from issuance of common stock 41 54,124
Excess tax (expense) benefit from share-based payment arrangements (123) 14
Preferred stock dividends paid (1,750) (1,750)
Common stock dividends paid   (351)
Net cash used in financing activities (158,244) (105,740)
Net increase in cash and cash equivalents 605 6,443
Cash and cash equivalents:    
Beginning of period 67,496 118,847
End of period $ 68,101 $ 125,290