XML 87 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income (loss) $ 25,646us-gaap_NetIncomeLoss $ 17,083us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 5,306us-gaap_DepreciationNonproduction 5,453us-gaap_DepreciationNonproduction
Amortization and impairment of intangible assets 1,093us-gaap_AmortizationOfIntangibleAssets 1,235us-gaap_AmortizationOfIntangibleAssets
Provision for loan and lease losses 32,970us-gaap_ProvisionForLoanAndLeaseLosses 31,915us-gaap_ProvisionForLoanAndLeaseLosses
Deferred income tax (benefit) expense 2,060us-gaap_DeferredIncomeTaxExpenseBenefit (700)us-gaap_DeferredIncomeTaxExpenseBenefit
Stock-based compensation 1,457us-gaap_ShareBasedCompensation 717us-gaap_ShareBasedCompensation
Other-than-temporary impairments on debt securities 156us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet 0us-gaap_OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
Equity in losses of unconsolidated entities 0us-gaap_IncomeLossFromEquityMethodInvestments 6,610us-gaap_IncomeLossFromEquityMethodInvestments
Derivative instruments and financial liabilities measured at fair value, gain 72fbp_DerivativesInstrumentsAndHedgingActivitiesLossGain (148)fbp_DerivativesInstrumentsAndHedgingActivitiesLossGain
Loss (gain) on sale of premises and equipment and other assets 194us-gaap_GainLossOnSaleOfPropertyPlantEquipment 25us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Net gain on sale of loans held for investment (1,689)us-gaap_GainLossOnSaleOfLoansAndLeases (2,017)us-gaap_GainLossOnSaleOfLoansAndLeases
Net amortization of premiums, discounts and deferred loan fees and costs (673)fbp_AmortizationOfPremiumsAndDiscountsOnDeferredLoanFeesAndCosts (477)fbp_AmortizationOfPremiumsAndDiscountsOnDeferredLoanFeesAndCosts
Originations and purchases of loans held for sale (89,425)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale (72,748)us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale
Sales and repayments of loans held for sale 87,051us-gaap_ProceedsFromSaleAndCollectionOfLoansHeldforsale 72,865us-gaap_ProceedsFromSaleAndCollectionOfLoansHeldforsale
Amortization of broker placement fees 1,335fbp_AmortizationOfBrokerPlacementFees 1,785fbp_AmortizationOfBrokerPlacementFees
Net amortization of premium and discounts on investment securities 1,269us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments (284)us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
(Decrease) increase in accrued income tax payable 5,481us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 1,476us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
(Increase) decrease in accrued interest receivable 1,953us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet 4,992us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet
Decrease in accrued interest payable 1,000us-gaap_IncreaseDecreaseInInterestPayableNet 2,106us-gaap_IncreaseDecreaseInInterestPayableNet
Decrease (increase) in other assets 3,081us-gaap_IncreaseDecreaseInOtherOperatingAssets 8,657us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in other liabilities 11,007us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (4,987)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Business Combination Bargain Purchase Gain Recognized Amount 13,443us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount 0us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount
Net cash provided by operating activities 75,513us-gaap_NetCashProvidedByUsedInOperatingActivities 73,508us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Principal collected on loans 751,062us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment 776,086us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment
Loans originated and purchased (705,621)fbp_ProceedsFromLoansOriginatedOrPurchased (774,764)fbp_ProceedsFromLoansOriginatedOrPurchased
Proceeds from sale of loans held for investment 2,230us-gaap_ProceedsFromSaleOfLoansHeldForInvestment 16,558us-gaap_ProceedsFromSaleOfLoansHeldForInvestment
Proceeds from sale of repossessed assets 18,446us-gaap_ProceedsFromSaleOfForeclosedAssets 12,262us-gaap_ProceedsFromSaleOfForeclosedAssets
Purchases of securities available for sale (56,429)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (76,253)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Proceeds from principal repayments and maturities of securities available for sale 53,596us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 45,422us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Additions to premises and equipment (3,027)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (7,696)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of premises and equipment and other assets 2,492us-gaap_ProceedsFromSaleOfOtherProductiveAssets 25us-gaap_ProceedsFromSaleOfOtherProductiveAssets
Cash Acquired From Acquisition 217,659us-gaap_CashAcquiredFromAcquisition 0us-gaap_CashAcquiredFromAcquisition
(Increase) decrease in other equity securities (433)us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock 0us-gaap_PaymentsForProceedsFromFederalHomeLoanBankStock
Net cash provided by investing activities 279,975us-gaap_NetCashProvidedByUsedInInvestingActivities (8,360)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Net decrease in deposits (166,924)us-gaap_IncreaseDecreaseInDeposits 120,977us-gaap_IncreaseDecreaseInDeposits
Net FHLB advances paid 0fbp_ProceedsFromRepaymentsOfFederalHomeLoanBankAdvances 0fbp_ProceedsFromRepaymentsOfFederalHomeLoanBankAdvances
Repayments of medium-term notes 0us-gaap_RepaymentsOfMediumTermNotes 0us-gaap_RepaymentsOfMediumTermNotes
Payments Of Stock Issuance Costs 0us-gaap_PaymentsOfStockIssuanceCosts 53us-gaap_PaymentsOfStockIssuanceCosts
Repurchase of outstanding common stock (236)us-gaap_PaymentsForRepurchaseOfCommonStock (246)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided (used in) financing activities (167,160)us-gaap_NetCashProvidedByUsedInFinancingActivities 120,678us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase in cash and cash equivalents 188,328us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 185,826us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 796,108us-gaap_CashAndCashEquivalentsAtCarryingValue 655,671us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 984,436us-gaap_CashAndCashEquivalentsAtCarryingValue 841,497us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents include:    
Cash and due from banks 767,471us-gaap_DueFromBanks 824,547us-gaap_DueFromBanks
Money market instruments 216,965us-gaap_MoneyMarketFundsAtCarryingValue 16,950us-gaap_MoneyMarketFundsAtCarryingValue
Cash and Cash Equivalents, at Carrying Value, Total $ 984,436us-gaap_CashAndCashEquivalentsAtCarryingValue $ 841,497us-gaap_CashAndCashEquivalentsAtCarryingValue