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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Net income (loss)$ 6,758$ (2,657)
Depreciation1,0701,224
Provision for loan losses2,45015,028
Impairment on securities195360
Goodwill impairment 2,000
Gain on securities transactions, net(129)(76)
Loss on writedown and sale of foreclosed assets1,3132,916
(Gain) loss on sale of premises and equipment11(7)
Amortization of premiums and discounts on securities, net11619
Amortization of deferred loan fees and discounts(881)(992)
Amortization of core deposit intangibles6595
Stock-based compensation68(20)
Changes in:  
Accrued interest receivable776307
Other assets1,911(1,186)
Accrued interest payable(151)(70)
Other liabilities4,1771,346
Net cash provided by operating activities17,74918,287
Purchases of securities available-for-sale(91,002)(123,000)
Purchases of other investments(2)(50)
Proceeds from sales of securities available-for-sale7,92720,076
Proceeds from maturities, calls, and principal paydowns of securities available-for-sale112,36314,590
Proceeds from sales and maturities of other investments33348,135
Net change in loans60,12777,296
Proceeds from sale of foreclosed assets14,46017,573
Proceeds from sale of premises and equipment 9
Purchases of premises and equipment(780)(847)
Net cash provided by investing activities103,42653,782
Net change in:  
Deposits(52,692)(64,198)
Other borrowings(20,388)30,692
Proceeds from issuance of common stock 6,899
Cash dividends paid on preferred stock(2,272)(1,132)
Net cash used in financing activities(75,352)(27,739)
Net increase in cash and cash equivalents45,82344,330
Cash and cash equivalents at beginning of period151,725108,093
Cash and cash equivalents at end of period197,548152,423
Interest paid10,63316,235
Income taxes paid1,0223,025
Noncash investing and financing activities:  
Issuance of common stock pursuant to incentive plan609349
Foreclosed assets acquired19,66114,339
Loans originated to finance foreclosed assets$ 3,305$ 3,505