Parent Company Only Financial Statements - Condensed (Tables)

12 Months Ended

Dec. 31, 2013

Parent Company Only Financial Statements - Condensed

Schedule of statements of financial condition

	December 31,
	2013		2012
Assets
Cash and cash equivalents	$	188,775	227,327
Marketable securities available-for-sale	8,473		17,907
Investment in bank subsidiary	1,065,603		997,084
Other assets	5,205		4,474
Total assets	$	1,268,056	1,246,792
Liabilities and Shareholders’ Equity
Liabilities:
Debentures payable	$	103,094	103,094
Other liabilities	8,160		15,229
Total liabilities	111,254		118,323
Shareholders’ equity	1,156,802		1,128,469
Total liabilities and shareholders’ equity	$	1,268,056	1,246,792

Schedule of statements of income

	Years ended December 31,
	2013		2012		2011
Income:
Interest income	$	1,467	1,442		1,717
Other income	5,961		773		515
Dividends from bank subsidiary	—		175,000		122,585
Undistributed earnings from equity investment in bank subsidiary	66,183		(108,400	)	(55,552	)
Total income	73,611		68,815		69,265
Expense:
Compensation and benefits	1,024		955		649
Other expense	234		305		368
Interest expense	5,444		5,717		5,699
Total expense	6,702		6,977		6,716
Income before income taxes	66,909		61,838		62,549
Federal and state income taxes	170		(1,722	)	(1,602	)
Net income	$	66,739	63,560		64,151

Schedule of statements of cash flows

	Years ended December 31,
	2013			2012		2011
Operating activities:
Net income	$	66,739		63,560		64,151
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiary	(66,183		)	108,400		55,552
Noncash stock benefit plan compensation expense	5,083			4,623		6,725
Gain on sale of marketable securities	(5,139		)	—		—
Net change in other assets and liabilities	(3,692		)	467		(5,692	)
Net cash (used in)/ provided by operating activities	(3,192		)	177,050		120,736
Investing activities:
Net sale/ (purchase) of marketable securities	7,200			(940	)	(11,439	)
Net cash provided by/ (used in) investing activities	7,200			(940	)	(11,439	)
Financing activities:
Cash dividends paid	(45,871		)	(56,862	)	(43,642	)
Share repurchases	(4,459		)	(52,028	)	(172,690	)
Repayment of loan to ESOP	1,152			1,116		1,081
Proceeds from options exercised	6,618			2,131		2,030
Net cash used in financing activities	(42,560		)	(105,643	)	(213,221	)
Net (decrease)/ increase in cash and cash equivalents	$	(38,552	)	70,467		(103,924	)
Cash and cash equivalents at beginning of year	227,327			156,860		260,784
Net (decrease)/ increase in cash and cash equivalents	(38,552		)	70,467		(103,924	)
Cash and cash equivalents at end of year	$	188,775		227,327		156,860