Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating activities:      
Net income $ 30,445 $ 22,922 $ 8,360
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:      
Depreciation of bank premises and equipment 6,715 6,502 5,067
Other-than-temporary impairment recognized in earnings 400      
Amortization, net 7,928 6,300 4,407
Provision for loan losses 16,800 24,368 18,246
Gains on the sale of investment securities (913) (58) (163)
Tax benefit from exercise of stock-based awards 15 7 4
Deferred tax benefit (615) (1,273) (2,425)
Origination of loans held for sale 659,441 (808,663) (703,477)
Proceeds from sales of loans held for sale (660,290) 788,969 678,621
Gains (loss) on sales of other real estate owned and bank premises, net (2,768) 628 (37)
Stock-based compensation expenses 717 778 420
Issuance of common stock grants for services 657 593 516
Prepayment of FDIC insurance assessment     (11,805)
Decrease (increase) in other assets 8,627 (470) (1,893)
Increase (decrease) in other liabilities (2,160) 6,343 5,216
Net cash and cash equivalents provided by operating activities 70,535 45,690 1,131
Investing activities:      
Purchases of securities available for sale (217,643) (191,030) (181,219)
Proceeds from sales of securities available for sale 28,800 106,549 14,005
Proceeds from maturities, calls and paydowns of securities available for sale 126,786 126,158 83,964
Net increase in loans 62,126 (23,204) (33,301)
Net increase in bank premises and equipment (5,466) (2,229) (6,315)
Proceeds from sales of other real estate owned 14,240 11,747 4,452
Cash paid in bank acquisition (26,437)    
Cash acquired in bank and branch acquisitions 230 137,460  
Net cash and cash equivalents provided by (used in) investing activities (17,364) 165,451 (118,414)
Financing activities:      
Net increase (decrease) in noninterest-bearing deposits 45,302 19,528 19,393
Net increase (decrease) in interest-bearing deposits 10,875 (74,156) (30,038)
Net increase (decrease) in short-term borrowings (29,972) (132,784) 42,479
Net increase (decrease) in long-term borrowings 489 (897) (10,000)
Cash dividends paid-common stock (7,284) (6,484) (4,372)
Cash dividends paid-preferred stock (1,961) (1,458) (2,696)
(Repurchase) issuance of preferred stock and warrant (35,595)   (59,499)
Issuance of common stock 574 409 59,390
Taxes paid related to net share settlement of equity awards (93) (57)  
Net cash and cash equivalents (used in) provided by financing activities (17,665) (195,899) 14,657
Increase (decrease) in cash and cash equivalents 35,506 15,242 (102,626)
Cash and cash equivalents at beginning of the period 61,153 45,911 148,537
Cash and cash equivalents at end of the period 96,659 61,153 45,911
Supplemental Disclosure of Cash Flow Information      
Interest 33,030 38,075 49,854
Income taxes 8,837 11,794 2,173
Supplemental schedule of noncash investing and financing activities      
Unrealized gain (loss) on securities available for sale (13,063) 929 9,488
Changes in fair value of interest rate swap (loss) gain (2,818) (1,476)  
Transfers from loans to other real estate owned (644) 24,791 19,906
Transactions related to bank and branch acquisitions      
Loans 70,817 981,541  
Securities   218,676  
Other assets 4,324 78,542  
Noninterest bearing deposits 4,366 171,117  
Interest bearing deposits 44,503 1,037,206  
Borrowings   75,789  
Other liabilities $ 65 $ 1,832