XML 45 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Cash flows from operating activities    
Net Income $ 4,223 $ 8,948
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization of leasehold improvement 1,272 1,473
Change in fair value of mortgage servicing rights 630 (239)
Loan loss reserve release 2,000 4,300
Gain on recapture of restricted stock   (612)
Provision for deferred tax expense (benefit) 2,335  
Originations of loans held-for-sale (52,057) (112,161)
Proceeds from sales of loans held-for-sale 52,784 119,697
Net gain on sales of mortgage loans (1,700) (3,787)
Change in current income taxes (payable) receivable (78) (266)
Increase in cash surrender value of bank-owned life insurance (724) (779)
Death claim on bank owned life insurance   396
Change in accrued interest receivable and other assets (4,399) 1,427
Change in accrued interest payable and other liabilities (21,066) 2,653
Net discount (accretion)/premium amortization on securities (950) 162
Securities gains, net (226) (2,198)
Amortization of core deposit 1,023 1,050
Stock based compensation 82 67
Net gain on sale of other real estate owned (409) (567)
Provision for other real estate owned losses 1,261 4,576
Net gain on disposal of fixed assets   (5)
Net cash (used in) provided by operating activities (19,999) 15,535
Cash flows from investing activities    
Proceeds from maturities and calls including pay down of securities available-for-sale 14,606 34,892
Proceeds from sales of securities available-for-sale 163,107 424,822
Purchases of securities available-for-sale (132,073) (472,967)
Proceeds from maturities and calls including pay down of securities held-to-maturity 3,902  
Purchases of securities held-to-maturity (11,212)  
Proceeds from sales of Federal Reserve Bank and Federal Home Loan Bank stock   910
Net change in loans (42,259) 31,582
Improvements in other real estate owned (131) (50)
Proceeds from sales of other real estate owned 10,927 20,032
Proceeds from disposition of fixed assets   6
Net purchases of premises and equipment (509) (1,265)
Net cash provided by investing activities 6,358 37,962
Cash flows from financing activities    
Net change in deposits 18,696 (26,596)
Net change in securities sold under repurchase agreements 15,573 12,635
Net change in other short-term borrowings (5,000) (100,000)
Redemption of preferred stock (24,321)  
Proceeds from issuance of common stock 64,395  
Dividends paid (10,258)  
Purchase of treasury stock (46) (185)
Net cash provided by (used in) financing activities 59,039 (114,146)
Net change in cash and cash equivalents 45,398 (60,649)
Cash and cash equivalents at beginning of period 47,660 128,507
Cash and cash equivalents at end of period 93,058 67,858
Supplemental cash flow information    
Income taxes paid (received)   266
Interest paid for deposits 3,027 4,165
Interest paid for borrowings 20,150 438
Non-cash transfer of loans to other real estate owned 9,343 11,181
Non-cash transfer of loans to securities available-for-sale   5,329
Change in dividends accrued and declared but not paid (9,123) 511
Accretion on preferred stock warrants 58 527
Fair value difference on recapture of restricted stock   $ 43