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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating Activities      
Net loss $ (40,005) $ (137,314) $ (131,827)
Net loss from discontinued operations (27) (5,796) (1,406)
Net loss from continuing operations (39,978) (131,518) (130,421)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:      
Depreciation and amortization of premises and equipment 3,794 3,321 3,649
Provision for loan losses 14,049 67,362 132,755
Deferred income taxes (1,039) 641 1,259
Deferred loan fees and costs, net (2,714) (760) (775)
Premium amortization and discount accretion of investment securities, net 8,273 3,869 (3,814)
Net gain on sale of investment securities (4,121) (7,298) (10,647)
Amortization of core deposit premiums 1,407 896 795
Net accretion of purchase accounting adjustments (24,813) (1,731) 0
Stock compensation expense 3 23 50
Increase in cash surrender value of bank-owned life insurance, net (1,277) (1,115) (1,085)
Origination of loans held for sale (86,611) 0 (118,251)
Net proceeds from sale of loans held for sale 80,975 17,966 128,403
Net loss/(gain) on sale of loans held for sale (1,338) 1,241 (2,120)
Mortgage servicing rights capitalized (750) 0 (1,340)
Mortgage servicing rights amortization and impairment 24 117 3,748
Net gain on sale of premises and equipment 0 (15) 0
Gain on retirement of subordinated debt 0 (1,625) 0
Net loss on sales and write-downs of other real estate owned 21,787 44,249 9,939
Changes in assets and liabilities:      
Decrease in accrued interest receivable and other assets 334 20,781 5,211
Increase (decrease) in accrued interest payable and other liabilities (3,092) 5,443 2,279
Net cash (used in)/provided by operating activities of continuing operations (35,087) 21,847 19,635
Net effect of discontinued operations (874) 31,885 12,554
Net cash (used in)/provided by operating activities (35,961) 53,732 32,189
Investing Activities      
Proceeds from sales 212,609 290,491 214,181
Proceeds from maturities, calls and principal repayments 147,209 77,486 100,694
Purchases (490,447) (302,830) (291,341)
Proceeds from maturities, calls and principal repayments 0 0 6,184
Net decrease in loans held for investment 20,000 179,854 91,230
Proceeds from sales of loans held for investment 0 25,503 33,505
Proceeds from sales of other real estate owned 50,780 57,634 10,981
Improvements to other real estate owned (26) 0 (363)
Adjustment to goodwill from valuation adjustment on acquired OREO (300) 0 0
Purchases of premises and equipment (2,889) (2,696) (750)
Proceeds from sales of premises and equipment 58 334 0
Proceeds from sale of mortgage servicing rights 0 2,242 0
Net cash received in (paid for) acquisition (911) 99,126 0
Net cash (used in) provided by investing activities of continuing operations (63,917) 427,144 164,321
Net effect of discontinued operations 0 354 (232)
Net cash (used in) provided by investing activities (63,917) 427,498 164,089
Financing Activities      
Net decrease in deposits (220,420) (286,318) (25,738)
Decrease in retail repurchase agreements (163) (790) (3,964)
Decrease in Federal Home Loan Bank advances (42) (86,115) (23,036)
Decrease in Federal funds purchased 0 0 (10,000)
Repayment of subordinated debt 0 (875) 0
Repurchase and retirement of preferred stock 0 (3,125) 0
Issuance of common stock, net of expense 6,694 289,571 0
Exercise of warrants related to stock offering 3 0 0
Cash dividends paid on preferred stock 0 (756) 0
Cash dividends paid on Series A preferred stock 0 0 (644)
Net cash used in financing activities of continuing operations (213,928) (88,408) (63,382)
Net effect of discontinued operations 0 0 0
Net cash used in financing activities (213,928) (88,408) (63,382)
Net (Decrease) Increase in Cash and Cash Equivalents (313,806) 392,822 132,896
Cash and Cash Equivalents at Beginning of Period 553,416 160,594 27,698
Cash and Cash Equivalents at End of Period 239,610 553,416 160,594
Cash paid during the period for:      
Interest 16,234 24,230 30,516
Income taxes, net of refunds 0 0 645
Noncash transactions:      
Foreclosed loans transferred to other real estate owned 32,565 132,546 47,808
Loans to facilitate the sale of other real estate owned 7,211 1,148 0
Transfer of loans from held for investment to held for sale 600 31,832 0
Transfer of loans from held for sale to held for investment 3,885 0 0
Unrealized securities gains/(losses), net of income taxes 3,366 810 (3,390)
Conversion of subordinated debt to preferred stock 0 5,000 7,500
Employee benefit plan costs, net of income taxes 280 (1,088) 558
Unrealized gains on interest rate swaps 0 0 249
Gain on repurchase and retirement of preferred stock 0 9,375 0
Conversion of Series A preferred stock to common stock 0 8,982 0
Exchange of unaccrued dividend on Series A preferred stock to common stock 0 4,334 0
Warrant agreement adjustment 0 3,891 0
Gain on conversion of Series A preferred stock to common stock 0 38,625 0
Assets acquired in business combination 0 724,452 0
Liabilities assumed in business combination $ 0 $ 723,433 $ 0