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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income$ 36,161$ 22,481
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization4,9884,798
Stock-based compensation expense4,9976,628
Deferred taxes14,49610,982
Provision for bad debts56389
Gain on sale of securities (411)
Changes in operating assets and liabilities  
(Increase) in accounts receivable(6,232)(4,559)
(Increase) decrease in prepaid expenses and other assets(6,519)450
(Decrease) in accrued employee compensation(2,119)(1,606)
Increase in deferred revenue466616
Increase in accounts payable, accrued expenses and other liabilities4971,815
Net cash provided by operating activities46,79141,583
Securities available-for-sale:  
Proceeds from maturities and sales20,84555,480
Purchases(27,719)(57,194)
Securities and cash provided as collateral3,49828
Purchases of furniture, equipment and leasehold improvements(2,517)(4,684)
Capitalization of software development costs(2,898)(1,331)
Net cash (used in) investing activities(8,791)(7,701)
Cash flows from financing activities  
Cash dividend on common stock and Series B Preferred Stock(10,236)(8,039)
Purchase of treasury stock (23,258)
Proceeds from exercise of stock options and grants of restricted stock, net of surrenders on stock option exercises and withholding tax on stock vesting4491,958
Windfall tax benefits from stock-based compensation5,473906
Other(207)522
Net cash (used in) financing activities(4,521)(27,911)
Effect of exchange rate changes on cash and cash equivalents(851)(567)
Cash and cash equivalents  
Net increase for the period32,6285,404
Beginning of year124,994103,341
End of period157,622108,745
Cash paid during the period:  
Income taxes paid9,5741,638
Non-cash activity:  
Conversion of Series B Preferred Stock to common stock$ 30,315