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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities    
Net income (loss) $ 1,166 $ (10,027)
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 10,436 22,760
Mortgage banking income (3,750) (1,037)
Net losses on real estate owned and other repossessed assets sold 2,354 3,239
Net gain on retail branch sold   (1,387)
Net gain on available for sale securities sold (1,542) (6,514)
Net gains on other assets sold (10) (3)
Other than temporary impairment of securities available for sale 38  
Amortization of premiums and accretion of discounts 601 (1,149)
Depreciation and amortization 883 993
Decrease in interest receivable 519 617
Increase (decrease) in interest payable 29 (397)
Decrease (increase) in prepaid and other assets 934 610
(Decrease) increase in other liabilities (16) 1,836
Stock based compensation 220 111
Net principal disbursed on loans originated for sale (57,577) (80,372)
Proceeds from sale of loans originated for sale 64,927 85,175
ESOP compensation   2,743
Net cash from operating activities 19,212 17,198
Proceeds from principal repayments and maturities of:    
Securities available for sale 15,612 40,945
Proceeds from sale of:    
Securities available for sale 115,928 174,022
Real estate owned and other repossessed assets 7,860 11,183
Premises and equipment 10 20
Loans transferred from portfolio to held for sale 87,533  
Purchases of:    
Securities available for sale (156,349) (263,157)
Principal disbursed on loans, net of repayments 32,971 33,913
Loans purchased (2,129) (2,460)
Purchases of premises and equipment (280) (161)
Sale of retail branch   (22,158)
Net cash from investing activities 101,156 (27,853)
Cash Flows from Financing Activities    
Net increase in checking, savings and money market accounts 40,655 31,590
Net decrease in certificates of deposit (32,639) (78,352)
Net decrease in advance payments by borrowers for taxes and insurance (4,705) (1,852)
Proceeds from Federal Home Loan Bank advances 206,000 509,200
Repayment of Federal Home Loan Bank advances (312,453) (454,750)
Net change in repurchase agreements and other borrowed funds 1,165 1,607
Net cash from financing activities (101,977) 7,443
Change in cash and cash equivalents 18,391 (3,212)
Cash and cash equivalents, beginning of period 37,107 45,074
Cash and cash equivalents, end of period $ 55,498 $ 41,862