XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities:      
Net income $ 18,590 $ 6,005 $ 9,962
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of premises and equipment, and amortization 3,309 3,492 3,425
Amortization of intangible assets 177 307 328
Provision for loan losses 23,060 37,458 31,450
Amortization of investment securities premium, net 1,435 1,185 348
Originations of loans for resale (119,855) (179,504) (119,290)
Proceeds from sale of loans originated for resale 116,556 181,259 121,088
Gain on sale of loans (3,037) (3,647) (3,466)
Change in market value of mortgage servicing rights 1,107 1,029 551
Provision for losses on foreclosed assets 1,984 1,522 220
Gain on sale of foreclosed assets (680) (562) (168)
Loss on disposal of fixed assets 15 58 138
Increase in cash value of life insurance (1,885) (1,847) (1,879)
Stock option vesting expense 830 800 477
Stock option excess tax benefits (296) (390) (30)
Bargain purchase gain (7,575) (232)  
Deferred income tax benefit (1,691) (4,867) (3,515)
Change in:      
Reserve for unfunded commitments 100 (1,000) 1,075
Interest receivable (181) 632 172
Interest payable (477) (1,463) (2,532)
Other assets and liabilities, net 178 10,951 (12,411)
Net cash from operating activities 31,664 51,186 25,943
Investing activities:      
Proceeds from maturities of securities available-for-sale 84,016 92,427 85,833
Purchases of securities available-for-sale (25,456) (156,348) (29,396)
Redemption (purchase) of restricted equity securities, net 449 837 (39)
Loan principal decreases, net 9,363 102,890 62,663
Proceeds from sale of premises and equipment 1 6 2
Improvement of foreclosed assets   (139)  
Proceeds from sale of other real estate owned 7,632 5,172 1,815
Purchases of premises and equipment (3,350) (3,156) (2,633)
Cash received from acquisitions 80,706 18,764  
Net cash from investing activities 153,361 60,453 118,245
Financing activities:      
Net (decrease) increase in deposits 98,464 (71,340) 159,242
Payments of principal on long-term other borrowings     (90)
Net change in short-term other borrowings (11,517) (9,733) (35,162)
Stock option excess tax benefits 296 390 30
Repurchase of common stock (753) (338)  
Dividends paid (5,742) (6,344) (8,209)
Exercise of stock options 436 203 235
Net cash from financing activities 81,184 (87,162) 116,046
Net change in cash and cash equivalents 266,209 24,477 260,234
Cash and cash equivalents and beginning of year 371,066 346,589 86,355
Cash and cash equivalents at end of year 637,275 371,066 346,589
Supplemental disclosure of noncash activities:      
Unrealized gain (loss) on securities available for sale 2,594 (41) 1,846
Loans transferred to foreclosed assets 6,943 7,690 4,408
Market value of shares tendered by employees in-lieu of cash to pay for exercise of options and/or related taxes 1,992 1,026 652
Supplemental disclosure of cash flow activity:      
Cash paid for interest expense 10,715 15,596 23,147
Cash paid for income taxes 16,625 2,825 10,292
Assets acquired in acquisition 270,304 100,282  
Liabilities assumed in acquisition $ 262,729 $ 100,050