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
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 18,438 $ (78,743)
Adjustments to Reconcile Net Loss to Net Cash Provided By Operating Activities:    
Depreciation and Amortization of Premises and Equipment 1,083 1,204
Amortization of Premiums and Accretion of Discounts on Investments Securities, Net 1,227 288
Amortization of Other Intangible Assets 408 629
Amortization of Servicing Assets 345 496
Share-Based Compensation Expense 382 486
Provision for Credit Losses   95,496
Net Gain (Loss) on Sales of Investment Securities 70 (105)
Net Gain on Sales of Loans (2,489) (214)
(Gain) Loss on Sales of Other Real Estate Owned 681 (154)
Provision for Valuation Allowance on Other Real Estate Owned 470 6,503
Lower of Cost or Fair Value Adjustment for Loans Held for Sale 2,903  
Deferred Tax Benefit   3,608
Origination of Loans Held for Sale (16,056) (1,782)
Net Proceeds from Sales of Loans Held for Sale   79,254
Loss on Investment in Affordable Housing Partnership 440 440
Decrease in Accrued Interest Receivable 536 1,690
Increase in Cash Surrender Value of Bank-Owned Life Insurance (463) (466)
Increase in Other Assets (789) (3,489)
Decrease in Income Tax Receivable   46,857
(Decrease) Increase in Accrued Interest Payable (1,636) 1,418
(Decrease) Increase in Other Liabilities (521) 682
Net Cash Provided By Operating Activities 5,029 154,098
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from Redemption of Federal Home Loan Bank and Federal Reserve Bank Stock 2,206 2,236
Proceeds from Matured or Called Investment Securities Available for Sale 70,841 37,023
Proceeds from Matured or Called Investment Securities Held to Maturity 12 13
Proceeds from Sales of Investment Securities Available for Sale 157,777 3,252
Net Proceeds from Sales of Loans Held for Sale 45,963  
Proceeds from Sales of Other Real Estate Owned 3,736 5,042
Net Decrease in Loans Receivable 83,809 163,888
Purchases of Federal Reserve Bank Stock (40)  
Purchases of Investment Securities Available for Sale (200,724) (95,415)
Purchases of Premises and Equipment (353) (464)
Net Cash Provided By Investing Activities 163,227 115,575
CASH FLOWS FROM FINANCING ACTIVITIES:    
Decrease in Deposits (68,346) (174,213)
Proceeds from Exercise of Stock Options   22
Repayment of Long-Term Federal Home Loan Bank Advances (171) (162)
Net Change in Short-Term Federal Home Loan Bank Advances and Other Borrowings (150,536) 1,315
Net Cash Used In Financing Activities (219,053) (173,038)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (50,797) 96,635
Cash and Cash Equivalents at Beginning of Period 249,720 154,110
CASH AND CASH EQUIVALENTS AT END OF PERIOD 198,923 250,745
Cash Paid During the Period for:    
Interest Paid 16,649 19,176
Income Taxes Paid, Net of Refunds 3 (49,971)
Non-Cash Activities:    
Loan Provided in the Sale of Loans Held for Sale 5,750  
Transfer of Loans to Other Real Estate Owned 2,752 10,366
Transfer of Loans to Loans Held for Sale 37,806 101,620
Loan Provided in the Sale of Other Real Estate Owned $ 510 $ 1,217