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Consolidated Statements Of Cash Flows (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities    
Net loss $ (92,681) $ (28,502)
Net loss from discontinued operations (5,682) (319)
Net loss from continuing operations (86,999) (28,183)
Adjustments to reconcile net loss to cash provided by operatings activities:    
Depreciation and amortization of premises and equipment 1,602 1,826
Provision for loan losses 53,763 36,726
Deferred income taxes (1,228) (1,939)
Deferred loan fees and costs, net (237) (475)
Premium amortization and discount accretion of investment securities, net 1,815 (524)
Loss/(gain) on sale of investment securities 84 (1,497)
Amortization of core deposit premiums 397 398
Stock compensation expense 12 34
Increase in cash surrender value of bank-owned life insurance (543) (549)
Loans held for sale:    
Origination of loans held for sale   (46,477)
Net proceeds from sale of loans held for sale 107 59,889
Gain on loan sales (107) (770)
Mortgage servicing rights capitalized   (583)
Mortgage servicing rights amortization and impairment 145 689
Net loss on sales and write-downs of other real estate owned 24,242 3,699
Changes in assets and liabilities:    
Decrease in interest receivable 489 654
Decrease in other assets 14,557 5,714
Decrease in accrued interest and other liabilities (2,126) (6,442)
Net cash provided by operating activities of continuing operations 5,973 22,190
Net effect of discontinued operations 33,103 12,733
Net cash provided by operating activities 39,076 34,923
Investing Activities    
Proceeds from sales 30,117 26,621
Proceeds from maturities and calls 23,687 61,228
Purchases (126,446) (39,643)
Held-to-maturity securities:    
Proceeds from maturities and calls   6,184
Net decrease in loans held for investment 114,460 10,468
Proceeds from sale of other real estate owned 10,399 5,063
Improvements to other real estate owned   (362)
Purchases of premises and equipment (139) (610)
Net cash provided by investing activities of continuing operations 52,078 68,949
Net effect of discontinued operations 70 (239)
Net cash provided by investing activities 52,148 68,710
Financing Activities    
Net (decrease)/increase in deposits (91,436) 1,632
Increase in retail repurchase agreements 428 2,832
Decrease in Federal Home Loan Bank advances (19) (46,592)
Decrease in Federal funds purchased   (10,000)
Cash dividends paid on Series A preferred stock   (644)
Net cash used in financing activities of continuing operations (91,027) (52,772)
Net effect of discontinued operations    
Net cash used in financing activities (91,027) (52,772)
Net Increase in Cash and Cash Equivalents 197 50,861
Cash and Cash Equivalents at Beginning of Period 160,594 27,698
Cash and Cash Equivalents at End of Period 160,791 78,559
Supplemental disclosure of cash flow information    
Interest 11,832 15,970
Income taxes, net of refunds   641
Noncash transactions:    
Foreclosed loans transferred to other real estate 73,967 15,232
Unrealized securities gains, net of income taxes expense 2,788 3,813
Unrealized gains on interest rate swaps   138
Conversion of debt to preferred stock (5,000)  
Issuance of preferred stock from debt conversion $ 5,000