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
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities    
Net income $ 4,485 $ 1,291
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 704 781
Stock compensation expense 0 17
Provision for loan losses (3,600) (1,450)
Origination of loans for sale (26,524) (16,671)
Proceeds from sales of loans originated for sale 19,459 18,701
Net gains on mortgage loans (471) (435)
Write-down of other real estate 1,690 2,699
Net gain on sales of other real estate (94) (212)
Decrease (increase) in accrued interest receivable and other assets 450 (2,157)
Earnings in bank-owned life insurance (223) (215)
Increase in accrued expenses and other liabilities 2,798 684
Net cash from operating activities (1,326) 3,033
Cash flows from investing activities    
Loan originations and payments, net 6,639 45,092
Purchases of securities available for sale (44,921) (10,549)
Proceeds from:    
Maturities and calls of securities available for sale 10,470 6,988
Principal paydowns on securities 334 85
Sales of other real estate 4,417 4,984
Additions to premises and equipment (83) (112)
Net cash from investing activities (23,144) 46,488
Cash flows from financing activities    
Net decrease in in-market deposits (818) (6,360)
Decrease in brokered deposits 0 (5,595)
Repayments of other borrowed funds (11,114) (11,066)
Net cash from financing activities (11,932) (23,021)
Net change in cash and cash equivalents (36,402) 26,500
Cash and cash equivalents at beginning of period 243,042 236,127
Cash and cash equivalents at end of period 206,640 262,627
Supplemental cash flow information:    
Interest paid 2,462 3,950
Supplemental noncash disclosures:    
Transfers from loans to other real estate $ 5,811 $ 14,479