Guarantor Information

6 Months Ended

Jun. 30, 2011

Guarantor Information [Abstract]

Guarantor Information

Note 7.   Guarantor Information

The following represents the supplemental consolidating condensed financial information as of June 30, 2011 and December 31, 2010 and for the three and six months ended June 30, 2011 and 2010 of (i) CapitalSource Inc., which is the issuer of our 2014 Senior Secured Notes, as well as our Senior Debentures and Subordinated Debentures (together, the “Debentures”), (ii) CapitalSource Finance LLC (“CapitalSource Finance”), which is a guarantor of our 2014 Senior Secured Notes and the Debentures, and (iii) our subsidiaries that are not guarantors of the 2014 Senior Secured Notes or the Debentures. CapitalSource Finance, a wholly owned indirect subsidiary of CapitalSource Inc., has guaranteed our 2014 Senior Secured Notes and the Senior Debentures, fully and unconditionally, on a senior basis and has guaranteed the Subordinated Debentures, fully and unconditionally, on a senior subordinate basis. Separate consolidated financial statements of the guarantor are not presented, as we have determined that they would not be material to investors.

For additional information related to our 2014 Senior Secured Notes and Debentures, see Note 10, Borrowings.

Consolidating Balance Sheet
June 30, 2011
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Assets
Cash and cash equivalents	$	—		$	380,278		$	1,200,131		$	857		$	—		$	1,581,266
Restricted cash		—			36,428			64,686			142			—			101,256
Investment securities:
Available-for-sale, at fair value		—			1,448,542			—			24,201			—			1,472,743
Held-to-maturity, at amortized cost		—			136,250			—			—			—			136,250
Total investment securities		—			1,584,792			—			24,201			—			1,608,993
Loans:
Loans held for sale		—			112,153			6,857			237			—			119,247
Loans held for investment		—			4,901,771			217,396			363,569			—			5,482,736
Less deferred loan fees
and discounts		—			(61,293	)		(5,690	)		(13,298	)		2,690			(77,591	)
Less allowance for loan losses		—			(158,432	)		(7,947	)		(32,759	)		—			(199,138	)
Loans held for investment, net		—			4,682,046			203,759			317,512			2,690			5,206,007
Total loans		—			4,794,199			210,616			317,749			2,690			5,325,254
Interest receivable		—			29,035			23,862			(14,780	)		—			38,117
Investment in subsidiaries		2,515,652			3,156			1,507,197			1,725,726			(5,751,731	)		—
Intercompany receivable		375,000			—			66,103			920,379			(1,361,482	)		—
Other investments		—			37,115			13,933			10,617			—			61,665
Goodwill		—			173,135			—			—			—			173,135
Other assets		70,053			204,355			113,982			183,107			(146,239	)		425,258
Total assets	$	2,960,705		$	7,242,493		$	3,200,510		$	3,167,998		$	(7,256,762	)	$	9,314,944
Liabilities and shareholders’ equity
Liabilities:
Deposits	$	—		$	4,785,790		$	—		$	—		$	—		$	4,785,790
Term debt		287,300			410,610			—			—			—			697,910
Other borrowings		528,909			480,000			443,074			—			—			1,451,983
Other liabilities		34,081			115,477			116,527			177,055			(174,229	)		268,911
Intercompany payable		—			—			920,379			415,521			(1,335,900	)		—
Total liabilities		850,290			5,791,877			1,479,980			592,576			(1,510,129	)		7,204,594
Shareholders’ equity:
Common stock		3,232			921,000			—			—			(921,000	)		3,232
Additional paid-in capital		3,917,768			(64,036	)		706,074			2,595,280			(3,237,355	)		3,917,731
(Accumulated deficit) retained earnings		(1,857,283	)		567,504			984,104			(54,748	)		(1,496,888	)		(1,857,311	)
Accumulated other comprehensive income, net		46,698			26,148			30,352			34,890			(91,390	)		46,698
Total shareholders’ equity		2,110,415			1,450,616			1,720,530			2,575,422			(5,746,633	)		2,110,350
Total liabilities and shareholders’ equity	$	2,960,705		$	7,242,493		$	3,200,510		$	3,167,998		$	(7,256,762	)	$	9,314,944

Consolidating Balance Sheet
December 31, 2010

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Assets
Cash and cash equivalents	$	94,614		$	353,666		$	252,012		$	120,158		$	—		$	820,450
Restricted cash		—			39,335			85,142			4,109			—			128,586
Investment securities:
Available-for-sale, at fair value		—			1,510,384			—			12,527			—			1,522,911
Held-to-maturity, at amortized cost		—			184,473			—			—			—			184,473
Total investment securities		—			1,694,857			—			12,527			—			1,707,384
Loans:
Loans held for sale		—			171,887			16,202			17,245			—			205,334
Loans held for investment		—			5,008,287			284,445			860,144			—			6,152,876
Less deferred loan fees
and discounts		—			(79,877	)		(10,362	)		(18,429	)		2,230			(106,438	)
Less allowance for loan losses		—			(223,553	)		(29,626	)		(75,943	)		—			(329,122	)
Loans held for investment, net		—			4,704,857			244,457			765,772			2,230			5,717,316
Total loans		—			4,876,744			260,659			783,017			2,230			5,922,650
Interest receivable		—			25,780			18,174			13,439			—			57,393
Investment in subsidiaries		2,339,200			3,594			1,561,468			1,623,244			(5,527,506	)		—
Intercompany receivable		375,000			9			134,079			301,241			(810,329	)		—
Other investments		—			52,066			13,887			5,936			—			71,889
Goodwill		—			173,135			—			—			—			173,135
Other assets		89,198			249,119			156,557			234,034			(164,988	)		563,920
Total assets	$	2,898,012		$	7,468,305		$	2,481,978		$	3,097,705		$	(6,500,593	)	$	9,445,407
Liabilities and shareholders’ equity
Liabilities:
Deposits	$	—		$	4,621,273		$	—		$	—		$	—		$	4,621,273
Credit facilities		—			65,606			—			1,902			—			67,508
Term debt		285,731			693,523			—			—			—			979,254
Other borrowings		523,650			412,000			440,234			—			—			1,375,884
Other liabilities		34,658			170,408			121,227			208,816			(187,563	)		347,546
Intercompany payable		—			46,850			301,241			441,372			(789,463	)		—
Total liabilities		844,039			6,009,660			862,702			652,090			(977,026	)		7,391,465
Shareholders’ equity:
Common stock		3,232			921,000			—			—			(921,000	)		3,232
Additional paid-in capital		3,911,344			74,588			679,241			2,556,428			(3,310,260	)		3,911,341
(Accumulated deficit) retained earnings		(1,870,544	)		457,302			930,076			(114,898	)		(1,272,508	)		(1,870,572	)
Accumulated other comprehensive income, net		9,941			5,755			9,959			4,087			(19,801	)		9,941
Total CapitalSource Inc. shareholders’ equity		2,053,973			1,458,645			1,619,276			2,445,617			(5,523,569	)		2,053,942
Noncontrolling interests		—			—			—			(2	)		2			—
Total shareholders’ equity		2,053,973			1,458,645			1,619,276			2,445,615			(5,523,567	)		2,053,942
Total liabilities and shareholders’ equity	$	2,898,012		$	7,468,305		$	2,481,978		$	3,097,705		$	(6,500,593	)	$	9,445,407

Consolidating Statement of Operations
Three Months Ended June 30, 2011
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Net interest income:
Interest income:
Loans	$	10,183		$	98,409		$	11,837		$	10,048		$	(16,830	)	$	113,647
Investment securities		—			11,599			—			1,089			—			12,688
Other		—			404			686			—			—			1,090
Total interest income		10,183			110,412			12,523			11,137			(16,830	)		127,425
Interest expense:
Deposits		—			13,398			—			—			—			13,398
Borrowings		23,851			5,054			4,031			12,537			(13,064	)		32,409
Total interest expense		23,851			18,452			4,031			12,537			(13,064	)		45,807
Net interest (loss) income		(13,668	)		91,960			8,492			(1,400	)		(3,766	)		81,618
Provision for loan losses		—			6,340			(3,258	)		(1,559	)		—			1,523
Net interest (loss) income after provision for loan losses		(13,668	)		85,620			11,750			159			(3,766	)		80,095
Operating expenses:
Compensation and benefits		667			13,116			15,902			—			(587	)		29,098
Professional fees		4,605			1,437			5,093			(221	)		—			10,914
Other administrative expenses		1,017			20,445			9,468			5,271			(20,891	)		15,310
Total operating expenses		6,289			34,998			30,463			5,050			(21,478	)		55,322
Other income:
Gain on investments, net		—			8,413			8			304			—			8,725
(Loss) gain on derivatives		—			(358	)		5,559			(5,472	)		—			(271	)
Net (expense) income of real estate owned and other foreclosed assets		—			(10,589	)		(47	)		281			—			(10,355	)
Other (expense) income, net		(17	)		6,911			22,243			3,569			(21,735	)		10,971
Earnings (loss) in subsidiaries		32,703			(78	)		37,015			42,041			(111,681	)		—
Total other income		32,686			4,299			64,778			40,723			(133,416	)		9,070
Net income before income taxes		12,729			54,921			46,065			35,832			(115,704	)		33,843
Income tax (benefit) expense		(3,865	)		17,764			—			3,350			—			17,249
Net income	$	16,594		$	37,157		$	46,065		$	32,482		$	(115,704	)	$	16,594

Consolidating Statement of Operations
Three Months Ended June 30, 2010
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Net interest income:
Interest income:
Loans	$	10,191		$	101,450		$	13,925		$	37,434		$	(14,203	)	$	148,797
Investment securities		—			15,334			30			255			—			15,619
Other		—			300			2			2			—			304
Total interest income		10,191			117,084			13,957			37,691			(14,203	)		164,720
Interest expense:
Deposits		—			15,279			—			—			—			15,279
Borrowings		24,109			8,430			7,764			18,214			(13,039	)		45,478
Total interest expense		24,109			23,709			7,764			18,214			(13,039	)		60,757
Net interest (loss) income		(13,918	)		93,375			6,193			19,477			(1,164	)		103,963
Provision for loan losses		—			12,310			(24,316	)		37,268			—			25,262
Net interest (loss) income after provision for loan losses		(13,918	)		81,065			30,509			(17,791	)		(1,164	)		78,701
Operating expenses:
Compensation and benefits		638			12,572			16,213			—			—			29,423
Professional fees		480			643			6,537			837			—			8,497
Other administrative expenses		1,230			18,173			11,424			(1,419	)		(13,737	)		15,671
Total operating expenses		2,348			31,388			34,174			(582	)		(13,737	)		53,591
Other income:
Gain on investments, net		—			8,727			251			1,279			—			10,257
Gain (loss) on derivatives		—			837			10,906			(15,357	)		—			(3,614	)
Net expense of real estate owned and other foreclosed assets		—			(4,745	)		(178	)		(38,252	)		—			(43,175	)
Other (expense) income, net		(327	)		17,668			4,650			(6,394	)		(13,871	)		1,726
Earnings (loss) in subsidiaries		34,157			(3,105	)		60,411			71,077			(162,540	)		—
Total other income		33,830			19,382			76,040			12,353			(176,411	)		(34,806	)
Net income (loss) from continuing
operations before income taxes		17,564			69,059			72,375			(4,856	)		(163,838	)		(9,696	)
Income tax benefit		(776	)		(2,046	)		—			(1,352	)		—			(4,174	)
Net income (loss) from continuing operations		18,340			71,105			72,375			(3,504	)		(163,838	)		(5,522	)
Net income from discontinued operations, net of taxes		—			—			—			2,166			—			2,166
Net gain from sale of discontinued operations, net of taxes		—			—			—			21,696			—			21,696
Net income	$	18,340		$	71,105		$	72,375		$	20,358		$	(163,838	)	$	18,340

Consolidating Statement of Operations
Six Months Ended June 30, 2011
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Net interest income:
Interest income:
Loans	$	20,377		$	203,463		$	9,946		$	30,586		$	(27,225	)	$	237,147
Investment securities		—			26,322			7			4,711			—			31,040
Other		—			642			741			7			—			1,390
Total interest income		20,377			230,427			10,694			35,304			(27,225	)		269,577
Interest expense:
Deposits		—			26,781			—			—			—			26,781
Borrowings		48,276			10,764			8,948			23,790			(26,000	)		65,778
Total interest expense		48,276			37,545			8,948			23,790			(26,000	)		92,559
Net interest (loss) income		(27,899	)		192,882			1,746			11,514			(1,225	)		177,018
Provision for loan losses		—			5,543			36,945			3,844			—			46,332
Net interest (loss) income after provision for loan losses		(27,899	)		187,339			(35,199	)		7,670			(1,225	)		130,686
Operating expenses:
Compensation and benefits		902			25,144			34,849			—			(1,418	)		59,477
Professional fees		5,569			1,896			9,927			710			—			18,102
Other administrative expenses		2,173			42,264			20,507			9,650			(42,590	)		32,004
Total operating expenses		8,644			69,304			65,283			10,360			(44,008	)		109,583
Other income:
Gain on investments, net		—			20,062			30			12,148			—			32,240
(Loss) gain on derivatives		—			(1,135	)		4,437			(5,451	)		—			(2,149	)
Net expense of real estate owned and other foreclosed assets		—			(12,932	)		(236	)		(7,360	)		—			(20,528	)
Other (expense) income, net		(334	)		11,890			40,969			6,592			(41,619	)		17,498
Earnings (loss) in subsidiaries		59,948			(1,176	)		109,300			55,191			(223,263	)		—
Total other income		59,614			16,709			154,500			61,120			(264,882	)		27,061
Net income before income taxes		23,071			134,744			54,018			58,430			(222,099	)		48,164
Income tax expense (benefit)		3,318			24,544			(10	)		559			—			28,411
Net income	$	19,753		$	110,200		$	54,028		$	57,871		$	(222,099	)	$	19,753

Consolidating Statement of Operations
Six Months Ended June 30, 2010
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Net interest income:
Interest income:
Loans	$	20,041		$	211,811		$	24,742		$	77,434		$	(28,981	)	$	305,047
Investment securities		—			29,639			77			494			—			30,210
Other		—			870			3			4			—			877
Total interest income		20,041			242,320			24,822			77,932			(28,981	)		336,134
Interest expense:
Deposits		—			31,637			—			—			—			31,637
Borrowings		53,462			16,619			15,487			33,991			(25,438	)		94,121
Total interest expense		53,462			48,256			15,487			33,991			(25,438	)		125,758
Net interest (loss) income		(33,421	)		194,064			9,335			43,941			(3,543	)		210,376
Provision for loan losses		—			97,858			(23,524	)		169,868			—			244,202
Net interest (loss) income after provision for loan losses		(33,421	)		96,206			32,859			(125,927	)		(3,543	)		(33,826	)
Operating expenses:
Compensation and benefits		860			25,842			36,904			—			—			63,606
Professional fees		1,161			1,245			13,912			2,549			—			18,867
Other administrative expenses		2,367			31,065			24,891			12,189			(36,189	)		34,323
Total operating expenses		4,388			58,152			75,707			14,738			(36,189	)		116,796
Other (expense) income:
Gain on investments, net		—			13,946			147			2,243			—			16,336
(Loss) gain on derivatives		—			(705	)		16,137			(23,383	)		—			(7,951	)
Net expense of real estate owned and other foreclosed assets		—			(9,183	)		(1,002	)		(73,482	)		—			(83,667	)
Other (expense) income, net		(499	)		31,145			28,105			(4,408	)		(36,142	)		18,201
(Loss) earnings in subsidiaries		(155,818	)		(3,619	)		52,275			49,318			57,844			—
Total other (expense) income		(156,317	)		31,584			95,662			(49,712	)		21,702			(57,081	)
Net (loss) income from continuing operations before income taxes		(194,126	)		69,638			52,814			(190,377	)		54,348			(207,703	)
Income tax (benefit) expense		(776	)		123			—			17,485			—			16,832
Net (loss) income from continuing operations		(193,350	)		69,515			52,814			(207,862	)		54,348			(224,535	)
Net income from discontinued operations, net of taxes		—			—			—			9,489			—			9,489
Net gain from sale of discontinued operations, net of taxes		—			—			—			21,696			—			21,696
Net (loss) income	$	(193,350	)	$	69,515		$	52,814		$	(176,677	)	$	54,348		$	(193,350	)

Consolidating Statement of Cash Flows
Six Months Ended June 30, 2011
(Unaudited)

				CapitalSource Finance LLC
				Combined			Combined			Other						Consolidated
	CapitalSource			Non-Guarantor			Guarantor			Non-Guarantor						CapitalSource,
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Operating activities:
Net income	$	19,753		$	110,200		$	54,028		$	57,871		$	(222,099	)	$	19,753
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock option expense		—			964			2,062			—			—			3,026
Restricted stock expense		—			1,584			1,927			—			—			3,511
Amortization of deferred loan fees and discounts		—			(29,609	)		(5,324	)		(5,936	)		—			(40,869	)
Paid-in-kind interest on loans		—			29,827			372			(395	)		—			29,804
Provision for loan losses		—			5,543			36,945			3,844			—			46,332
Amortization of deferred financing fees and discounts		14,150			2,783			179			(1,156	)		—			15,956
Depreciation and amortization		—			(1,323	)		1,397			—			—			74
Benefit for deferred income taxes		21,513			1,488			—			27,353			—			50,354
Non-cash (gain) loss on investments, net		—			(30,178	)		112			(5,642	)		—			(35,708	)
Non-cash loss (gain) on foreclosed assets and other property and equipment disposals		—			11,638			(344	)		6,471			—			17,765
Unrealized loss (gain) on derivatives and foreign currencies, net		—			1,650			(4,946	)		5,426			—			2,130
(Increase) decrease in interest receivable		—			(3,255	)		(5,688	)		28,219			—			19,276
Decrease in loans held for sale, net		—			173,160			11,353			16,437			—			200,950
Decrease (increase) in intercompany receivable		—			9			67,976			(619,138	)		551,153			—
(Increase) decrease in other assets		(3,735	)		32,909			45,771			15,685			(18,601	)		72,029
Decrease in other liabilities		(1,571	)		(54,357	)		(3,386	)		(30,586	)		13,334			(76,566	)
Net transfers with subsidiaries		(139,081	)		(241,270	)		202,825			(45,584	)		223,110			—
Cash (used in) provided by operating activities		(88,971	)		11,763			405,259			(547,131	)		546,897			327,817
Investing activities:
Decrease in restricted cash		—			2,907			20,456			3,967			—			27,330
Decrease (increase) in loans, net		—			25,878			(96,003	)		435,131			(460	)		364,546
Reduction of marketable securities, available for sale, net		—			75,790			—			19,000			—			94,790
Reduction of marketable securities, held to maturity, net		—			54,689			—			—			—			54,689
Reduction (acquisition) of other investments, net		—			26,269			(71	)		(2,515	)		—			23,683
Acquisition of property and equipment, net		—			(6,476	)		(618	)		—			—			(7,094	)
Cash provided by (used in) investing activities		—			179,057			(76,236	)		455,583			(460	)		557,944
Financing activities:
Deposits accepted, net of repayments		—			164,517			—			—			—			164,517
(Decrease) increase in intercompany payable		—			(46,850	)		619,138			(25,851	)		(546,437	)		—
Repayments on credit facilities, net		—			(66,890	)		—			(1,902	)		—			(68,792	)
Repayments and extinguishment of term debt		—			(282,985	)		—			—			—			(282,985	)
Borrowings under (repayments of) other borrowings		—			68,000			(42	)		—			—			67,958
Proceeds from exercise of options		804			—			—			—			—			804
Payment of dividends		(6,447	)		—			—			—			—			(6,447	)
Cash (used in) provided by financing activities		(5,643	)		(164,208	)		619,096			(27,753	)		(546,437	)		(124,945	)
(Decrease) increase in cash and cash equivalents		(94,614	)		26,612			948,119			(119,301	)		—			760,816
Cash and cash equivalents as of beginning of period		94,614			353,666			252,012			120,158			—			820,450
Cash and cash equivalents as of end of period	$	—		$	380,278		$	1,200,131		$	857		$	—		$	1,581,266

Consolidating Statement of Cash Flows
Six Months Ended June 30, 2010
(Unaudited)

				CapitalSource Finance LLC
				Combined
				Non-			Combined			Other						Consolidated
	CapitalSource			Guarantor			Guarantor			Non-Guarantor						CapitalSource,
	Inc.			Subsidiaries			Subsidiaries			Subsidiaries			Eliminations			Inc.
	($ in thousands)
Operating activities:
Net (loss) income	$	(193,350	)		69,515			52,814			(176,677	)		54,348			(193,350	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock option expense		—			876			1,526			—			—			2,402
Restricted stock expense		—			1,057			5,084			—			—			6,141
Gain on extinguishment of debt		(1,096	)		—			—			—			—			(1,096	)
Amortization of deferred loan fees and discounts		—			(18,649	)		(13,497	)		(6,625	)		—			(38,771	)
Paid-in-kind interest on loans		—			2,292			3,005			846			—			6,143
Provision for loan losses		—			97,858			(23,524	)		169,868			—			244,202
Provision for unfunded commitments		—			(510	)		—			—			—			(510	)
Amortization of deferred financing fees and discounts		15,186			11,432			209			4,098			—			30,925
Depreciation and amortization		—			(2,692	)		1,774			1,441			—			523
(Benefit) provision for deferred income taxes		(869	)		4,463			(195	)		21,667			—			25,066
Non-cash loss (gain) on investments, net		—			1,660			119			(1,301	)		—			478
Gain on assets acquired through business combination		—			(3,724	)		—			—			—			(3,724	)
Non-cash loss on foreclosed assets and other property and equipment disposals		—			7,189			3,626			46,487			—			57,302
Unrealized (gain) loss on derivatives and foreign currencies, net		—			(9,820	)		(26,256	)		22,966			—			(13,110	)
Accretion of discount on commercial real estate “A” participation interest		—			(8,222	)		—			—			—			(8,222	)
(Increase) decrease in interest receivable		—			(6,256	)		25,088			1,535			—			20,367
Decrease (increase) in loans held for sale, net		—			335			(296	)		7,468			—			7,507
Increase in intercompany receivable		—			—			(12,663	)		(10,682	)		23,345			—
Decrease (increase) in other assets		1,458			(5,063	)		12,702			9,725			(24,917	)		(6,095	)
Increase (decrease) in other liabilities		230			(59,362	)		(33,201	)		34,886			21,910			(35,537	)
Net transfers with subsidiaries		362,424			(50,503	)		(602	)		(253,307	)		(58,012	)		—
Cash provided by (used in) operating activities		183,983			31,876			(4,287	)		(127,605	)		16,674			100,641
Investing activities:
Decrease (increase) in restricted cash		—			53,056			1,506			(28,437	)		—			26,125
Decrease in commercial real estate “A” participation interest, net		—			368,324			—			—			—			368,324
Decrease (increase) in loans, net		—			136,280			(83,510	)		286,618			4,113			343,501
Assets acquired through business combination, net of cash acquired		—			(98,800	)		—			—			—			(98,800	)
Acquisition of marketable securities, available for sale, net		—			(542,526	)		—			—			—			(542,526	)
Reduction of marketable securities, held to maturity, net		—			46,304			—			—			—			46,304
(Acquisition) reduction of other investments, net		—			(8,643	)		(116	)		29,111			—			20,352
Cash received for real estate		—			—			—			339,643			—			339,643
(Acquisition) disposal of property and equipment, net		—			(683	)		(933	)		859			—			(757	)
Cash (used in) provided by investing activities		—			(46,688	)		(83,053	)		627,794			4,113			502,166
Financing activities:
Payment of deferred financing fees		(581	)		(8,021	)		—			4,172			—			(4,430	)
Deposits accepted, net of repayments		—			86,892			—			—			—			86,892
Increase in intercompany payable		—			—			10,682			10,105			(20,787	)		—
Repayments on credit facilities, net		(100,054	)		(65,703	)		(7,057	)		(33,882	)		—			(206,696	)
Borrowings of term debt		—			—			—			14,784			—			14,784
Repayments and extinguishment of term debt		—			(472,646	)		—			(237,514	)		—			(710,160	)
(Repayments of) borrowings under other borrowings		(34,144	)		65,000			(38	)		(263,972	)		—			(233,154	)
Proceeds from exercise of options		347			—			—			—			—			347
Payment of dividends		(6,485	)		—			—			—			—			(6,485	)
Cash (used in) provided by financing activities		(140,917	)		(394,478	)		3,587			(506,307	)		(20,787	)		(1,058,902	)
Increase (decrease) in cash and cash equivalents		43,066			(409,290	)		(83,753	)		(6,118	)		—			(456,095	)
Cash and cash equivalents as of beginning of period		99,103			760,343			265,977			51,597			—			1,177,020
Cash and cash equivalents as of end of period	$	142,169		$	351,053		$	182,224		$	45,479		$	—		$	720,925