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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating Activities    
Net loss $ (33,709) $ (106,611)
Net loss from discontinued operations (27) (5,722)
Net loss from continuing operations (33,682) (100,889)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization of premises and equipment 2,906 2,382
Provision for loan losses 10,877 60,944
Deferred income taxes (128) 333
Deferred loan fees and costs, net (3,432) 1,755
Premium amortization and discount accretion of investment securities, net 6,547 2,746
Net loss/(gain) on sale of investment securities (1,923) (7,308)
Amortization of core deposit premiums 1,056 596
Net accretion of purchase accounting adjustments (19,661) 0
Adjustment to goodwill (300) 0
Stock compensation expense 1 16
Increase in cash surrender value of bank-owned life insurance, net (967) (817)
Origination of loans held for sale (40,078) 0
Net proceeds from sale of loans held for sale 32,425 (10)
Net loss/(gain) on sale of loans held for sale (559) 10
Mortgage servicing rights amortization and impairment 0 145
Net loss on sales and write-downs of other real estate owned 16,091 27,683
Changes in assets and liabilities:    
(Increase)/decrease in accrued interest receivable and other assets 431 13,836
Decrease in accrued interest payable and other liabilities (2,742) 6,341
Net cash (used in)/provided by operating activities of continuing operations (33,138) 7,763
Net effect of discontinued operations (874) 31,768
Net cash (used in)/provided by operating activities (34,012) 39,531
Investing Activities    
Proceeds from sales, available-for-sale securities 133,241 290,185
Proceeds from maturities, calls and principal repayments, available-for-sale securities 120,718 50,047
Purchases, available-for-sale securities (309,221) (228,785)
Net (increase)/decrease in loans held for investment (32,856) 173,938
Proceeds from sales of other real estate owned 37,528 39,521
Purchases of premises and equipment (1,862) (2,522)
Proceeds from sales of premises and equipment 36 0
Expenses paid in 2012 related to 2011 capital raise (913)  
Net cash (used in) provided by investing activities of continuing operations (52,416) 322,384
Net effect of discontinued operations 0 22
Net cash (used in) provided by investing activities (52,416) 322,406
Financing Activities    
Net decrease in deposits (145,465) (130,754)
Increase in retail repurchase agreements 595 (2,737)
Decrease in Federal Home Loan Bank advances (31) (25,029)
Issuance of common stock, net of expense 6,696 0
Net cash used in financing activities of continuing operations (139,118) (158,520)
Net effect of discontinued operations 0 0
Net cash used in financing activities (139,118) (158,520)
Net (Decrease) Increase in Cash and Cash Equivalents (225,546) 203,417
Cash and Cash Equivalents at Beginning of Period 553,416 160,594
Cash and Cash Equivalents at End of Period 327,870 364,011
Cash paid during the period for:    
Interest 13,982 17,516
Noncash transactions:    
Foreclosed loans transferred to other real estate owned 23,647 101,245
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 1,119 0
Unrealized securities gains/(losses), net of income taxes 5,409 500
Conversion of subordinated debt to preferred stock 0 (5,000)
Issuance of preferred stock in subordinated debt conversion $ 0 $ 5,000