XML 50 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 160,729 $ 146,106
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 50,135 46,785
(Accretion) of discount and amortization of premiums, net (113,327) (104,247)
Changes in FDIC indemnification asset and receivable/payable 111,192 79,804
Stock compensation costs 6,745 5,898
Tax benefit from stock compensation plans, net (3,787) (2,803)
Provision for loan losses 14,933 13,327
Impairment on other real estate owned 539 2,153
Net gain on sales of investment securities, loans and other assets (20,941) (16,512)
Originations and purchases of loans held for sale (86,312) (71,572)
Proceeds from sales and net change in loans held for sale 109,241 11,155
Net proceeds from FDIC shared-loss agreements 2,367 42,494
Net change in accrued interest receivable and other assets (11,754) 50,275
Net change in accrued expenses and other liabilities (171,084) (43,579)
Other net operating activities (1,165) (1,548)
Total adjustments (113,218) 11,630
Net cash provided by operating activities 47,511 157,736
CASH FLOWS FROM INVESTING ACTIVITIES    
Acquisitions, net of cash paid 138,465  
Net (increase) decrease in:    
Loans (1,581,763) (679,359)
Short-term investments (28,657) 35,940
Purchases of:    
Securities purchased under resale agreements (475,000) (300,000)
Investment securities available-for-sale (250,607) (699,650)
Loans receivable (1,817) (466,715)
Premises and equipment (5,859) (10,328)
Investments in affordable housing partnerships and other investments (43,195) (16,683)
Proceeds from sale of:    
Investment securities available-for-sale 351,842 325,721
Loans receivable 149,409 55,129
Loans held for sale originated for investment 206,569  
Other real estate owned 20,943 38,677
Repayments, maturities and redemptions of investment securities available-for-sale 207,746 262,074
Paydowns, maturities and termination of securities purchased under resale agreements 500,000 300,000
Redemption of Federal Home Loan Bank stock 27,309 21,136
Surrender of life insurance policies 49,111  
Other net investing activities (5,525) 244
Net cash used in investing activities (741,029) (1,133,814)
Net increase (decrease) in:    
Deposits 1,143,322 972,853
Short-term borrowings   (20,000)
Proceeds from:    
Issuance of common stock pursuant to various stock plans and agreements 1,207 1,150
Payment for:    
Termination of securities purchased under resale agreements (15,000)  
Repayment of FHLB advances (10,000)  
Repayment of long-term debt (20,310)  
Repurchase of vested shares due to employee tax liability (7,308) (8,667)
Repurchase of shares of treasury stock pursuant to the Stock Repurchase Plan   (199,992)
Cash dividends (51,956) (44,961)
Tax benefit from stock compensation plans, net 3,787 2,803
Net cash provided by financing activities 1,043,742 703,186
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 350,224 (272,892)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 895,820 1,323,106
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,246,044 1,050,214
Cash paid during the period for:    
Interest 56,357 58,336
Income tax payments, net of refunds 221,355 92,096
Noncash investing and financing activities:    
Loans transferred to loans held for sale, net 460,828 19,125
Transfers to other real estate owned 38,048 29,782
Issuance of stock related to acquisition 190,830  
Conversion of preferred stock to common stock   83,027
Loans to facilitate sales of other real estate owned   $ 139