Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 10,110 $ 7,341
Adjustments to Reconcile Net Income to Net Cash Provided By Operating Activities:    
Depreciation and Amortization of Premises and Equipment 504 554
Amortization of Premiums and Accretion of Discounts on Investment Securities, Net 769 1,078
Amortization of Other Intangible Assets 41 71
Amortization of Servicing Assets 329 205
Share-Based Compensation Expense 97 92
Provision for Credit Losses   2,000
Net Gain on Sales of Investment Securities (9) (1)
Net (Gain) Loss on Sales of Loans (2,595) 1,736
Loss on Investment in Affordable Housing Partnership   220
Gain on Sales of Other Real Estate Owned (5)  
Gain on Bank-Owned Life Insurance Settlement   (163)
Valuation Impairment on Other Real Estate Owned 7  
Lower of Cost or Fair Value Adjustment for Loans Held for Sale   657
Origination of Loans Held for Sale (23,144) (25,866)
Proceeds from Life Insurance   344
Proceeds from Sales of SBA Loans Guaranteed Portion 30,745  
Changes in Fair Value of Stock Warrants 91 170
Decrease in Restricted Cash 5,350  
Decrease (Increase) in Accrued Interest Receivable 55 (140)
Increase in Servicing Assets (791)  
Decrease (Increase) in Income Tax Assets 2,876 (2,428)
Increase in Cash Surrender Value of Bank-Owned Life Insurance (230) (236)
Increase in Prepaid Expenses (592) (1,606)
Increase in Other Assets (87) (4,957)
Decrease in Accrued Interest Payable (8,583) (430)
Increase in Other Liabilities 2,582 247
Net Cash Provided (Used In) By Operating Activities 17,520 (21,112)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from Redemption of Federal Home Loan Bank and Federal Reserve Bank Stock 1,786 1,093
Proceeds from Matured or Called Securities Available-for-Sale 20,820 40,873
Proceeds from Sales of Securities Available-for-sale 9,000 3,000
Proceeds from Matured or Called Securities Held to Maturity   135
Proceeds from Sales of Other Real Estate Owned 281  
Proceeds from Sales of Loans Held for Sale 1,454 26,961
Net Increase in Loans Receivable (79,815) (20,353)
Purchase of Loans Receivable   (67,428)
Purchases of Term Federal Fund   (5,000)
Purchases of Securities Available for Sale   (18,113)
Purchases of Premises and Equipment (146) (223)
Net Cash Used In Investing Activities (46,620) (39,055)
CASH FLOWS FROM FINANCING ACTIVITIES:    
(Decrease) Increase in Deposits (62,951) 18,816
Proceeds from Exercise of Stock Options 21  
Proceeds from Exercise of Stock Warrant 305  
Repayment of Long-Term Federal Home Loan Bank Advances (95) (90)
Redemption of Junior Subordinated Debenture (30,928)  
Net Cash (Used In) Provided By Financing Activities (93,648) 18,726
NET DECREASE IN CASH AND CASH EQUIVALENTS (122,748) (41,441)
Cash and Cash Equivalents at Beginning of Year 268,047 201,683
CASH AND CASH EQUIVALENTS AT END OF PERIOD 145,299 160,242
Cash Paid During the Period for:    
Interest Paid 12,374 5,331
Income Taxes Paid 1,800 2,507
Non-Cash Activities:    
Transfer of Loans Receivable to Other Real Estate Owned 513 1,080
Transfer of Loans Receivable to Loans Held for Sale 3,373 37,481
Conversion of Stock Warrant into Common Stock 850  
Income Tax Benefit Related to Items of Other Comprehensive Income 251   
Change in Unrealized Gain or Loss in Accumulated Other Comprehensive Income $ 568 $ (674)