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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net earnings (loss) $ 23,517 $ (57,828)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization 8,732 (268)
Provision for credit losses 22,100 154,727
Gain on sale of other real estate owned (4,387) (2,081)
Provision for losses on other real estate owned 4,734 11,675
Gain on sale of premises and equipment (18) (11)
Restricted stock amortization 4,392 4,421
Tax effect included in stockholders' equity of restricted stock vesting 183 772
Increase (decrease) in accrued and deferred income taxes, net (5,428) (42,753)
Decrease in FDIC loss sharing asset 13,446 46,749
Decrease in other assets 2,498 16,947
Decrease in accrued interest payable and other liabilities (5,683) (10,592)
Net cash provided by operating activities 64,086 121,758
Cash flows from investing activities:    
Net decrease in loans 275,593 164,729
Proceeds from sale of loans 2,495 202,289
Securities available-for-sale:    
Proceeds from maturities and paydowns 87,735 82,161
Purchases (262,173) (304,249)
Net redemptions of FHLB stock 4,449 1,874
Proceeds from sales of other real estate owned 37,559 44,128
Capitalized costs to complete other real estate owned   (545)
Purchases of premises and equipment, net (3,398) (1,764)
Proceeds from sales of premises and equipment 21 13
Net cash provided by investing activities 142,281 188,636
Net increase (decrease) in deposits:    
Noninterest-bearing 133,848 92,536
Interest-bearing (297,051) 34,834
Net proceeds from issuance of common stock   26,587
Restricted stock surrendered (302) (518)
Tax effect included in stockholders' equity of restricted stock vesting (183) (772)
Net decrease in borrowings   (260,000)
Cash dividends paid (726) (723)
Net cash used in financing activities (164,414) (108,056)
Net increase in cash and cash equivalents 41,953 202,338
Cash and cash equivalents, beginning of period 108,552 211,048
Cash and cash equivalents, end of period 150,505 413,386
Supplemental disclosures of cash flow information:    
Cash paid for interest 17,623 21,884
Cash paid for income taxes 22,315 36
Loans transferred to other real estate owned 48,513 32,928
Goodwill resolution included in FDIC loss sharing asset $ 7,636