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
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
OPERATING ACTIVITIES    
Net income $ 25,889 $ 16,851
Adjustments to reconcile net income to net cash provided by    
Deferred tax benefit (1,602) (1,476)
Provision for loan losses 6,651 6,465
Depreciation and amortization 911 844
Net amortization of investments 789 648
Market value adjustment of interest rate cap 9 98
Decrease in accrued interest and dividends receivable (996) (539)
Stock-based compensation expense 788 719
(Decrease) increase in accrued interest payable (78) 145
Proceeds from sale of mortgage loans held for sale 176,753 115,329
Originations of mortgage loans held for sale (184,706) (115,344)
Gain on sale of securities available for sale 0 (666)
Gain on sale of mortgage loans held for sale (2,746) (1,641)
Net loss (gain) on sale of other real estate owned 88 (87)
Write down of other real estate owned 1,424 181
Decrease in special prepaid FDIC insurance assessments 972 1,126
Increase in cash surrender value of life insurance contracts (1,161) 0
Loss on prepayment of other borrowings 0 738
Net change in other assets, liabilities, and other operating activities (401) 966
Net cash provided by operating activities 22,584 24,357
INVESTMENT ACTIVITIES    
Purchase of securities available for sale (34,040) (95,311)
Proceeds from maturities, calls and paydowns of securities available for sale 92,021 19,679
Purchase of securities held to maturity (6,005) (11,188)
Proceeds from maturities, calls and paydowns of securities held to maturity 423 1,067
Increase in loans (335,877) (309,529)
Purchase of premises and equipment (2,195) (893)
Purchase of restricted equity securities (787) (543)
Proceeds from sale of securities available for sale 0 63,270
Proceeds from sale of restricted equity securities 347 345
Proceeds from sale of other real estate owned and repossessions 2,534 2,950
Net cash used in investing activities (283,579) (370,153)
Purchase of bank-owned life insurance contracts 0 40,000
FINANCING ACTIVITIES    
Net increase in noninterest-bearing deposits 94,152 131,605
Net increase in interest-bearing deposits 171,482 120,960
Net increase in federal funds purchased 12,052 16,400
Proceeds from sale of common stock, net 1,021 10,411
Proceeds from sale of preferred stock, net 0 39,958
Repayment of other borrowings (5,000) (20,738)
Dividends on preferred stock (300) (100)
Net cash provided by financing activities 273,407 298,496
Net decrease in cash and cash equivalents 12,412 (47,300)
Cash and cash equivalents at beginning of year 242,933 231,978
Cash and cash equivalents at end of year 255,345 184,678
Cash paid for:    
Interest (11,355) (11,965)
Income taxes (12,203) (10,136)
NONCASH TRANSACTIONS    
Transfers of loans from held for sale to held for investment 0 (417)
Other real estate acquired in settlement of loans 1,436 6,263
Internally financed sales of other real estate owned $ (24) $ (141)