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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income (loss)$ 8,484$ (57,562)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:  
Amortization (accretion) of discounts and premiums on securities920(1,295)
Gain on sale of securities available-for-sale (1,492)
Gain on sale of SBA loans(1,124)(707)
Proceeds from sale of SBA loans originated for sale12,34717,146
Net change in SBA loans originated for sale(5,864)(17,458)
Loss on sale of other loans 887
Write-downs on other loans held-for-sale291,080
Provision for loan losses3,23925,754
Increase in cash surrender value of life insurance(1,270)(1,249)
Depreciation and amortization579600
Amortization of other intangible assets392431
(Gains) losses on sale of foreclosed assets, net(67)546
Stock option expense, net457837
Amortization of restricted stock awards, net2742
Goodwill impairment 43,181
Effect of changes in:  
Accrued interest receivable and other assets(173)(2,963)
Accrued interest payable and other liabilities(8,390)(1,234)
Net cash provided by operating activities9,5866,544
CASH FLOWS FROM INVESTING ACTIVITIES:  
Purchase of securities available-for-sale(95,841)(41,434)
Maturities/paydowns/calls of securities available-for-sale26,43221,164
Proceeds from sale of securities available-for-sale 27,245
Net change in SBA loans previously transferred to held-for-sale (320)
Net change in other loans transferred to held-for-sale70 
Net change in loans59,719128,960
Changes in Federal Home Loan Bank stock and other investments(747)(883)
Purchase of premises and equipment(201)(171)
Proceeds from sale of foreclosed assets2,46511,595
Proceeds from sale of SBA loans transferred to held-for-sale 1,768
Proceeds from sale of other loans transferred to held-for-sale1,76910,303
(Purchases) redemption of company owned life insurance(250)308
Net cash (used in) provided by investing activities(6,584)158,535
CASH FLOWS FROM FINANCING ACTIVITIES:  
Net change in deposits12,216(24,167)
Issuance of preferred stock, net of offering costs 69,766
Payment of cash dividends - preferred stock(4,172) 
Net change in securities sold under agreement to repurchase(5,000)(10,000)
Net change in short-term borrowings(2,445)(15,685)
Net cash provided by financing activities59919,914
Net increase in cash and cash equivalents3,601184,993
Cash and cash equivalents, beginning of period72,17745,562
Cash and cash equivalents, end of period75,778230,555
Supplemental disclosures of cash flow information:  
Interest paid7,0547,008
Income taxes paid490 
Supplemental schedule of non-cash investing activity:  
Due to broker for securities purchased 4,123
Transfer from portfolio loans to loans held-for-sale 17,079
Transfer of loans held-for-sale to loan portfolio 2,367
Loans transferred to foreclosed assets2,25210,593
Conversion of Series B preferred stock to common stock $ 50,228