XML 42 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
OPERATING ACTIVITIES    
Net income (loss) $ 6,472 $ (18,159)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities (including discontinued operations):    
Provision for loan losses (12,766) 1,721
Depreciation of premises and equipment 1,572 2,081
Reorganization items 1,835 0
Net amortization of investment security premiums 40 79
Loss on sale of premises and equipment 62 21
Gain on sale of government-guaranteed loans 0 (475)
Loss (gain) on bank subsidiaries discontinued 1,781 (126)
Loss (gain) on sale of other real estate owned (1,747) 535
Write down of other real estate owned 1,977 7,936
Amortization of issuance costs of subordinated debentures 0 51
Share-based compensation expense 0 61
Deferred income tax credit 2 (201)
Originations and purchases of loans held for sale (921) (14,300)
Proceeds from sales of loans held for sale 921 15,909
Decrease in accrued interest income and other assets 8,674 3,634
Increase in accrued interest expense on deposits and other liabilities (4,360) (437)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 3,542 (1,670)
INVESTING ACTIVITIES    
Proceeds from calls, prepayments and maturities of investment securities 3,393 10,345
Purchases of investment securities (3,997) (6,622)
Redemption of Federal Home Loan Bank stock by issuer 971 849
Purchases of Federal Home Loan Bank stock 0 (31)
Net decrease in portfolio loans 100,628 112,208
Proceeds from sales of government-guaranteed loans 0 4,241
Proceeds from sales of premises and equipment 34 45
Purchases of premises and equipment (216) (1,402)
Proceeds from sale of bank subsidiaries 1,000 4,060
Payments received on other real estate owned 69 34
Proceeds from sales of other real estate owned 26,478 24,505
NET CASH PROVIDED BY INVESTING ACTIVITIES 128,360 148,232
FINANCING ACTIVITIES    
Net increase in demand deposits, NOW accounts and savings accounts 34,554 56,769
Net decrease in certificates of deposit (157,311) (189,666)
Net payments on debt obligations 0 (423)
Proceeds from Federal Home Loan Bank borrowings 500 43,501
Payments on Federal Home Loan Bank borrowings (2,000) (62,918)
Tax effect of share-based payments 0 (17)
NET CASH USED IN FINANCING ACTIVITIES (124,257) (152,754)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,645 (6,192)
Change in cash and cash equivalents of discontinued operations 6,724 (9,078)
Change in cash and cash equivalents of deconsolidated subsidiary (44,753) 0
Cash and cash equivalents at beginning of period 289,734 319,453
CASH AND CASH EQUIVALENTS AT END OF PERIOD 259,350 304,183
Supplemental disclosures:    
Cash paid during the period for interest on deposits and debt obligations 4,683 14,240
Transfers of loans to other real estate owned $ 8,409 $ 30,794