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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Activities:    
Net income/(loss) $ (4,429) $ (13,974)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Provision for loan losses 1,927 12,982
Depreciation on premises and equipment 771 862
Core deposit intangible amortization 127 153
Loss on low-income housing investments 183 0
Net amortization (accretion) on securities available-for-sale (904) (2,873)
Impairment loss on securities available-for-sale 0 25
Impairment loss on securities held-to-maturity 26 79
Gain on sale of investments available-for-sale (1,309) (231)
Loss on sale of investments available-for-sale 303 35
Loss on sale of investments held-to-maturity 0 3
Gain on sale of mortgage loans (695) (556)
Gain on sale of premises and equipment (322) 0
Gain on sale of real estate acquired through foreclosure (613) (121)
Gain on sale of real estate held for development (175) 0
Write-downs on real estate acquired through foreclosure 3,543 4,649
Origination of loans held for sale (27,572) (34,232)
Proceeds on sale of loans held for sale 35,289 35,468
Stock-based compensation expense 92 95
Prepaid FDIC premium 1,055 1,806
Changes in:    
Cash surrender value of life insurance (178) (171)
Interest receivable 702 (1,545)
Other assets 1,040 170
Interest payable 682 576
Accounts payable and other liabilities 267 309
Net cash from operating activities 9,810 3,509
Investing Activities:    
Sales of securities available-for-sale 87,454 88,197
Sales of securities held-to-maturity 0 92
Purchases of securities available-for-sale (140,232) (180,139)
Maturities of securities available-for-sale 50,919 15,500
Maturities of securities held-to-maturity 58 7
Net change in loans 70,654 57,119
Sale of portfolio loans 10,693 0
Redemption of Federal Home Loan Bank stock 0 104
Investment in low-income housing projects (24) (5,724)
Net purchases of premises and equipment (86) (292)
Sales of premises and equipment 1,575 0
Sales of real estate acquired through foreclosure 4,356 2,036
Sales of real estate held for development 220 0
Net cash from investing activities 85,587 (23,100)
Financing Activities    
Net change in deposits (33,492) (46,726)
Advance from Federal Home Loan Bank 0 337
Maturity of Federal Home Loan Bank advance 0 (25,000)
Repayments to Federal Home Loan Bank (70) (64)
Issuance of common stock under dividend reinvestment program 4 2
Issuance of common stock for employee benefit plans 39 54
Net cash from financing activities (33,519) (71,397)
Increase (Decrease) in cash and cash equivalents 61,878 (90,988)
Cash and cash equivalents, beginning of period 92,236 166,176
Cash and cash equivalents, end of period 154,114 75,188
Supplemental noncash disclosures:    
Transfers from loans to real estate acquired through foreclosure and repossessed assets 15,541 9,438
Loans to facilitate sales of real estate owned and repossessed assets 208 2,101
Dividends accrued not paid on preferred stock 500 500
Transfers from loans to loans held for sale in probable branch divestiture $ 65,242 $ 0