XML 52 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 18,757 $ 13,193
Adjustments to reconcile net income to net cash used in operating activities:    
Accretion of discounts on securities (3,801) (6,343)
Net accretion of discounts on loans (1,452) (726)
Stock-based compensation expense 1,542 1,181
Valuation of financial instruments carried at fair value (897) (625)
Impairment charge on securities 1,694 1,312
Provision for loan losses 4,500 3,963
Deferred income taxes (548) 1,257
Origination of loans held for sale (535,365) (318,179)
Unrealized gain on loans held for sale (860) (764)
Gain on sales of loans held for sale (11,175) (7,052)
Proceeds from sale of loans held for sale 488,925 325,562
Loss on sale of other real estate and foreclosed assets 3 1,720
Depreciation and amortization of furniture, equipment and software 786 630
Net changes in assets and liabilities which provide (use) cash:    
Accrued interest receivable (107) (171)
Other assets 6,215 (3,592)
Accrued interest payable 29 34
Accounts payable and accrued liabilities (2,757) 1,696
Net cash provided by (used) in operating activities (34,511) 13,096
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of investment securities (23,490) (45,001)
Proceeds from repayment of securities 43,661 59,419
Purchase of stock of the Federal Home Loan Bank (7,093) (2,963)
Proceeds from redemption of stock of the Federal Home Loan Bank 3,004 1,412
Origination of loans, net (459,334) (384,779)
Origination of mortgage warehouse loans, net (152,362) 0
Proceeds from sales of repossessed assets 759 6,270
Purchases of loans, net of discounts and premiums (1,541) 0
Principal repayments on loans 215,135 98,109
Net purchases of furniture, equipment and software (2,160) (1,222)
Net cash used in investing activities (383,421) (268,755)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposits 353,177 212,905
Proceeds from the Federal Home Loan Bank advances 176,000 91,000
Repayment of the Federal Home Loan Bank advances (71,000) (66,000)
Repayment of other borrowings and securities sold under agreements to repurchase (5,000) (2,500)
Proceeds from exercise of common stock options 21 613
Proceeds from issuance of preferred stock 18,552 19,487
Proceeds from issuance of common stock 0 13,344
Tax benefit from exercise of common stock options and vesting of restricted stock grants 413 216
Cash dividends on preferred stock (155) (155)
Net cash provided by financing activities 472,008 268,910
Net change in cash and cash equivalents 54,076 13,251
CASH AND CASH EQUIVALENTS—Beginning of year 35,426 9,052
CASH AND CASH EQUIVALENTS—End of period 89,502 22,303
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid on deposits and borrowed funds 17,105 19,092
Income taxes paid 16,700 8,127
Transfers to other real estate and repossessed vehicles 1,488 1,168
Transfers from loans held for investment to loans held for sale 541 81,029
Transfers from loans held for sale to loans held for investment 42,755 0
Preferred stock dividends declared but not paid 254 351
Additional Paid-in Capital
   
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Convert preferred stock to common stock 19,427 0
Common Stock
   
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Convert preferred stock to common stock $ 12 $ 0