Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 63,116 $ 18,438
Adjustments to Reconcile Net Income to Net Cash (Used In) Provided By Operating Activities:    
Depreciation and Amortization of Premises and Equipment 1,087 1,083
Amortization of Premiums and Accretion of Discounts on Investment Securities, Net 2,005 1,227
Amortization of Other Intangible Assets 116 408
Amortization of Servicing Assets 419 345
Share-Based Compensation Expense 102 382
Provision for Credit Losses 6,000  
Net Gain on Sales of Investment Securities (1,382) 70
Other-Than-Temporary Loss on Investment Securities 116  
FRB and FHLB Stock Dividends 334 265
Deferred Tax benefit (47,184)  
Net Loss (Gain) on Sales of Loans 465 (2,489)
Loss on Sales of Other Real Estate Owned   681
Valuation Impairment on Other Real Estate Owned 57 470
Lower of Cost or Fair Value Adjustment for Loans Held for Sale 1,781 2,903
Gain on Bank-Owned Life Insurance (163)  
Increase in Cash Surrender Value of Bank-Owned Life Insurance (473) (463)
Origination of Loans Held for Sale (60,589) (16,056)
Net Proceeds from Sales of Loans held for Sale 72,223  
Changes in Fair Value of Stock Warrants 137  
Loss on Investment in Affordable Housing Partnership 440 440
Decrease in Accrued Interest Receivable 661 536
Increase in Restricted Cash 2,001  
Increase in Prepaid Expenses (1,128)  
Increase in Other Assets (7,909) (1,054)
Increase in Current Tax Assets (4,879)  
Decrease in Accrued Interest Payable (1,150) (1,636)
Increase in Other Liabilities 882 (521)
Net Cash (Used In) Provided By Operating Activities 23,083 5,029
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from Redemption of Federal Home Loan Bank and Federal Reserve Bank Stock 2,109 2,206
Proceeds from Matured or Called Securities Available for Sale 71,339 70,841
Proceeds from Sales of Securities Available for sale 88,538 157,777
Proceeds from Matured or Called Securities Held to Maturity 6,338 12
Proceeds from Sales of Other Real Estate Owned   3,736
Proceeds from Sales of Loans Held for Sale 65,470 45,963
Proceeds from Matured Term Federal Funds 160,000  
Proceeds from Insurance Settlement on Bank-Owned Life Insurance 344  
Net (Increase) Decrease in Loans Receivable (16,160) 83,809
Purchases of Federal Reserve Bank Stock (1,979) (40)
Purchase of Loans Receivable (82,669)  
Purchases of Term Federal Fund (155,000)  
Purchases of Securities Available for Sale (98,311) (200,724)
Purchases of Premises and Equipment (396) (353)
Net Cash Provided By Investing Activities 39,623 163,227
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (Decrease) in Deposits 40,197 (68,346)
Repayment of Long-Term Federal Home Loan Bank Advances (181) (171)
Net Change in Short-Term Federal Home Loan Bank Advances and Other Borrowings   (150,536)
Net Cash Provided By (Used In) Financing Activities 40,016 (219,053)
NET DECREASE IN CASH AND CASH EQUIVALENTS 102,722 (50,797)
Cash and Cash Equivalents at Beginning of Year 201,683 249,720
CASH AND CASH EQUIVALENTS AT END OF PERIOD 304,405 198,923
Cash Paid During the Period for:    
Interest Paid 11,704 16,649
Income Taxes Paid 4,912 3
Non-Cash Activities:    
Transfer of Loans to Other Real Estate Owned 948 2,752
Transfer of Loans to Loans Held for Sale 64,471 37,806
Transfer of Loans Held for Sale to Loans 1,779  
Loans Provided in the Sale of Loans Held for Sale   5,750
Loans Provided in the Sale of Other Real Estate Owned   $ 510