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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Activities    
Net loss $ (28,997) $ (92,681)
Net loss from discontinued operations (27) (5,682)
Net loss from continuing operations (28,970) (86,999)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization of premises and equipment 1,957 1,602
Provision for loan losses 10,845 53,763
Deferred income taxes (51) (1,228)
Deferred loan fees and costs, net (3,648) (237)
Premium amortization and discount accretion of investment securities, net 4,700 1,815
Net loss/(gain) on sale of investment securities (1,956) 84
Amortization of core deposit premiums 704 397
Net accretion of purchase accounting adjustments (14,397) 0
Adjustment to goodwill (300) 0
Stock compensation expense 1 12
Increase in cash surrender value of bank-owned life insurance, net (657) (543)
Origination of loans held for sale (3,039) 0
Net proceeds from sale of loans held for sale 1,749 107
Net loss/(gain) on sale of loans held for sale (34) (107)
Mortgage servicing rights capitalized 0 145
Net loss on sales and write-downs of other real estate owned 14,470 24,242
Changes in assets and liabilities:    
(Increase)/decrease in accrued interest receivable and other assets (605) 15,046
Decrease in accrued interest payable and other liabilities (498) (2,126)
Net cash (used in)/provided by operating activities of continuing operations (19,729) 5,973
Net effect of discontinued operations (874) 33,103
Net cash (used in)/provided by operating activities (20,603) 39,076
Investing Activities    
Proceeds from sales, available-for-sale securities 118,049 30,117
Proceeds from maturities, calls and principal repayments, available-for-sale securities 83,454 23,687
Purchases, available-for-sale securities (245,492) (126,446)
Net (increase)/decrease in loans held for investment (69,984) 114,460
Proceeds from sales of other real estate owned 23,878 10,399
Purchases of premises and equipment (1,163) (139)
Proceeds from sales of premises and equipment 34 0
Expenses paid in 2012 related to 2011 capital raise (913) 0
Net cash (used in) provided by investing activities of continuing operations (92,137) 52,078
Net effect of discontinued operations 0 70
Net cash (used in) provided by investing activities (92,137) 52,148
Financing Activities    
Net decrease in deposits (86,309) (91,436)
Increase in retail repurchase agreements 2,617 428
Decrease in Federal Home Loan Bank advances (20) (19)
Issuance of common stock, net of expense 6,915 0
Net cash used in financing activities of continuing operations (76,797) (91,027)
Net effect of discontinued operations 0 0
Net cash used in financing activities (76,797) (91,027)
Net (Decrease) Increase in Cash and Cash Equivalents (189,537) 197
Cash and Cash Equivalents at Beginning of Period 553,416 160,594
Cash and Cash Equivalents at End of Period 363,879 160,791
Cash paid during the period for:    
Interest 9,657 11,832
Noncash transactions:    
Foreclosed loans transferred to other real estate owned 15,020 73,967
Loans to facilitate the sale of other real estate owned 778 0
Transfer of loans from held for investment to held for sale 600 0
Transfer of loans from held for sale to held for investment (3,885) 0
Unrealized securities gains/(losses), net of income taxes 1,981 2,788
Conversion of subordinated debt to preferred stock 0 (5,000)
Issuance of preferred stock in subordinated debt conversion $ 0 $ 5,000