XML 81 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income (loss) $ 5,951 $ (47,276) $ (13,655)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 3,555 3,092 4,618
Loan loss provision 1,100 75,000 24,000
Write-down of OREO 1,261 14,998 12,547
(Credit) provision for deferred income taxes (597) 10,027 (10,027)
Gains on sales of mortgage loans, net (2,432) (240) (40)
Gains on sales of investment securities available-for-sale 0 0 (644)
Deferred benefit plan (income) expenses (315) 4,122 1,385
Stock-based compensation expense 1,050 649 846
CDI impairment 0 3,436 0
(Gains) losses on sales of OREO (104) 1,640 69
Loss on sale of mortgage servicing rights 0 0 400
Decrease in income taxes receivable 0 0 43,256
Increase in cash surrender value of BOLI (1,022) (1,213) (87)
(Increase) decrease in accrued interest and other assets (1,756) 7,652 5,882
Decrease in accrued interest and other liabilities 384 (28,253) (4,949)
Originations of mortgage loans (157,653) (28,722) (28,083)
Proceeds from sales of mortgage loans 158,262 28,606 28,384
Net cash provided by operating activities before extraordinary net gain 7,684 43,518 63,902
Extraordinary gain on extinguishment of junior subordinated debentures, net of income taxes 0 (32,839) 0
Net cash provided by operating activities 7,684 10,679 63,902
Cash flows from investing activities:      
Purchases of investment securities available-for-sale (520,153) (110,581) (26,505)
Proceeds from maturities, calls, and prepayments of investment securities available-for-sale 472,134 18,520 29,212
Proceeds from sales of investment securities available-for-sale 0 0 15,773
Proceeds from maturities and calls of investment securities held-to-maturity 674 547 310
Proceeds from sale of FHLB stock 187 0 0
Loan reductions, net 21,666 238,219 248,924
Proceeds from sale of mortgage servicing rights 0 0 3,594
Purchases of premises and equipment, net (1,819) (754) (5)
Proceeds from sales of OREO 14,891 12,151 15,540
Net cash (used by) provided by investing activities (12,420) 158,102 286,843
Cash flows from financing activities:      
Net decrease in deposits (10,593) (290,072) (438,449)
Repayment of TLGP senior unsecured debt 0 (41,000) 0
Extinguishment of junior subordinated debentures, net 0 (13,625) 0
Repayment of FHLB advances 0 (135,000) 0
Net decrease in other borrowings 0 0 (207)
Net proceeds from issuance of common stock 0 168,074 0
Tax effect of nonvested restricted stock (82) 17 (147)
Net cash used by financing activities (10,675) (311,606) (438,803)
Net decrease in cash and cash equivalents (15,411) (142,825) (88,058)
Cash and cash equivalents at beginning of year 128,439 271,264 359,322
Cash and cash equivalents at end of year $ 113,028 $ 128,439 $ 271,264