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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:  
Net earnings (loss)$ 36,821$ (54,328)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:  
Depreciation and amortization13,7214,190
Provision for credit losses22,448178,277
Gain on sale of other real estate owned(8,334)(4,044)
Provision for losses on other real estate owned15,01114,777
Gain on sale of premises and equipment(23)(14)
Impairment loss on securities 874
Restricted stock amortization6,5086,563
Tax effect included in stockholders' equity of restricted stock vesting4971,427
Decrease in accrued and deferred income taxes, net(3,689)(41,718)
Decrease in FDIC loss sharing asset27,15540,470
Decrease in other assets15,98913,579
Decrease in accrued interest payable and other liabilities(2,406)(8,991)
Net cash provided by operating activities123,698151,062
Cash flows from investing activities:  
Resolution of goodwill matter with FDIC7,636 
Net cash acquired in Los Padres Bank acquisition 171,366
Net decrease in loans324,82326,393
Proceeds from sale of loans2,495204,164
Securities available-for-sale:  
Proceeds from maturities and paydowns137,622135,295
Purchases(495,341)(448,856)
Net redemptions of FHLB stock6,6983,744
Proceeds from sales of other real estate owned52,82361,560
Capitalized costs to complete other real estate owned (638)
Purchases of premises and equipment, net(4,397)(2,481)
Proceeds from sales of premises and equipment2728
Net cash provided by investing activities32,386150,575
Net increase (decrease) in deposits:  
Noninterest-bearing162,691131,166
Interest-bearing(257,993)(177,006)
Net proceeds from issuance of common stock 26,587
Restricted stock surrendered(427)(836)
Tax effect included in stockholders' equity of restricted stock vesting(497)(1,427)
Net decrease in borrowings (330,000)
Cash dividends paid(1,089)(1,084)
Net cash used in financing activities(97,315)(352,600)
Net increase (decrease) in cash and cash equivalents58,769(50,963)
Cash and cash equivalents, beginning of period108,552211,048
Cash and cash equivalents, end of period167,321160,085
Supplemental disclosures of cash flow information:  
Cash paid for interest26,27332,163
Cash paid for income taxes29,969810
Loans transferred to other real estate owned$ 57,266$ 45,669