XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating Activities    
Net Loss $ (10,859) $ (43,708)
Net (loss)/income from discontinued operations (27) (3,693)
Net loss from continuing operations (10,832) (40,015)
Adjustments to reconcile net loss to cash provided by operatings activities:    
Depreciation and amortization of premises and equipment 981 812
Provision for loan losses 3,067 20,183
Deferred income taxes (77) (392)
Deferred loan fees and costs, net (2,270) (156)
Premium amortization and discount accretion of investment securities, net 666 1,015
Net gain on sale of investment securities 46 (13)
Amortization of core deposit premiums 352 199
Net accretion of purchase accounting adjustments (2,592) 0
Stock compensation expense 1 7
Increase in cash surrender value of bank-owned life insurance (327) (262)
Mortgage servicing rights amortization and impairment 0 117
Adjustment to goodwill from valuation adjustment on acquired OREO (300) 0
Net loss on sales and write-downs of other real estate owned 3,877 14,296
Changes in assets and liabilities:    
(Increase)/decrease in accrued interest receivable and other assets (532) 10,129
Increase in accrued interest payable and other liabilities 511 1,925
Net cash provided by operating activities of continuing operations (7,429) 7,845
Net effect of discontinued operations (873) 24,501
Net cash (used in)/provided by operating activities (8,302) 32,346
Available-for-sale securities:    
Proceeds from sales 10,760 0
Proceeds from maturities, calls and principal repayments 21,021 12,863
Purchases (73,010) (75,083)
Net (increase)/decrease in loans held for investment (35,603) 48,818
Proceeds from sale of other real estate owned 10,874 1,718
Purchases of premises and equipment (558) (32)
Expenses paid in 2012 related to 2011 capital raise (913) 0
Net cash provided by investing activities of continuing operations (67,429) (11,716)
Net effect of discontinued operations 0 (60)
Net cash used in investing activities (67,429) (11,776)
Financing Activities    
Net decrease in deposits (8,626) (34,418)
(Decrease)/increase in retail repurchase agreements (500) 923
Decrease in Federal Home Loan Bank advances (10) (10)
Net cash used in financing activities of continuing operations (9,136) (33,505)
Net effect of discontinued operations 0 0
Net cash used in financing activities (9,136) (33,505)
Net Increase in Cash and Cash Equivalents (84,867) (12,935)
Cash and Cash Equivalents at Beginning of Period 553,416 160,594
Cash and Cash Equivalents at End of Period 468,549 147,659
Cash paid during the period for: [Abstract]    
Interest 5,099 5,972
Noncash transactions:    
Foreclosed loans transferred to other real estate owned 8,935 21,287
Transfer of loans from held for investment to held for sale 600 0
Unrealized securities gains/(losses), net of income taxes (730) 166
Conversion of subordinated debt to preferred stock 0 (5,000)
Issuance of preferred stock from debt conversion $ 0 $ 5,000