XML 23 R6.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities      
Net income $ 15,385 $ 10,136 $ 82,085
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization of leasehold improvement 2,386 2,485 2,794
Change in fair value of mortgage servicing rights 1,141 1,214 (260)
Loan loss reserve release 4,400 3,300 8,550
Gain on recapture of restricted stock     (612)
Provision for deferred tax expense 8,756 5,563 (70,376)
Originations of loans held-for-sale (190,041) (122,996) (181,497)
Proceeds from sales of loans held-for-sale 196,431 124,458 191,019
Net gain on sales of mortgage loans (5,775) (3,594) (5,627)
Change in current income taxes receivable (payable) 100 86 (132)
Increase in cash surrender value of bank-owned life insurance (1,221) (1,397) (1,603)
Death claim on bank owned life insurance     396
Change in accrued interest receivable and other assets (3,949) (581) 8,764
Change in accrued interest payable and other liabilities (2,668) (20,001) 8,877
Net premium amortization/discount (accretion) on securities 79 (1,824) (528)
Securities losses (gain), net 178 (1,719) 1,912
Amortization of core deposit   1,177 2,099
Stock based compensation 613 295 167
Net gain on sale of other real estate owned (1,073) (989) (1,956)
Provision for other real estate owned losses 4,076 4,559 8,293
Net gain on disposal of fixed assets (20)   (9)
Loss on transfer of premises to other real estate owned 1,139 121  
Net cash provided by (used in) operating activities 21,137 (6,307) 35,256
Cash flows from investing activities      
Proceeds from maturities and calls including pay down of securities available-for-sale 46,230 16,520 40,028
Proceeds from sales of securities available-for-sale 70,176 296,013 533,302
Purchases of securities available-for-sale (196,082) (325,020) (609,033)
Proceeds from maturities and calls including pay down of securities held-to-maturity 13,281 9,703 2,444
Purchases of securities held-to-maturity   (11,212) (21,382)
Proceeds from sales of Federal Home Loan Bank stock 540 1,234 910
Net change in loans 16,073 (74,338) 21,505
Improvements in other real estate owned   (794) (73)
Proceeds from sales of other real estate owned 18,836 22,857 43,668
Proceeds from disposition of premises and equiment 30 1 10
Net purchases of premises and equipment (1,280) (1,097) (1,798)
Net cash (used in) provided by investing activities (32,196) (66,133) 9,581
Cash flows from financing activities      
Net change in deposits 74,031 2,927 (35,091)
Net change in securities sold under repurchase agreements 13,034 (1,524) 4,685
Net change in other short-term borrowings (30,000) 40,000 (95,000)
Redemption of preferred stock (47,331) (24,321)  
Proceeds from issuance of common stock   64,331  
Dividends paid on preferred stock (2,417) (12,390)  
Purchase of treasury stock (117) (46) (278)
Net cash (used in) provided by financing activities 7,200 68,977 (125,684)
Net change in cash and cash equivalents (3,859) (3,463) (80,847)
Cash and cash equivalents at beginning of period 44,197 47,660 128,507
Cash and cash equivalents at end of period 40,338 44,197 47,660
Supplemental cash flow information      
Income taxes paid 118 40 266
Interest paid for deposits 3,958 5,533 7,868
Interest paid for borrowings 5,142 22,708 864
Non-cash transfer of loans to other real estate owned 8,530 13,918 19,194
Non-cash transfer of premises to other real estate owned 468 2,160  
Non-cash transfer of loans to securities available-for-sale     5,329
Non-cash transfer of securities available-for-sale to securities held-to-maturity     237,154
Change in dividends accrued $ (544) (9,112) 511
Accretion on preferred stock discount   $ 58 1,073
Fair value difference on recapture of restricted stock     $ 43