Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule Of Condensed Statements Of Condition

Following are condensed statements of the parent company:
Statements of Condition		Year Ended December 31
(Dollars in thousands)		2014		2013
Assets:
Cash	$	167,562	$	81,271
Interest-bearing cash		-		15,800
Securities available-for-sale		2,634		1,643
Notes receivable		3,460		3,610
Allowance for loan losses		(925)		(925)
Investments in subsidiaries:
Bank		3,057,156		3,028,125
Non-bank		17,870		18,044
Other assets		195,898		207,497
Total assets	$	3,443,655	$	3,355,065
Liabilities and equity:
Other short-term borrowings	$	3,000	$	-
Accrued employee benefits and other liabilities		138,233		158,090
Term borrowings		720,832		708,598
Total liabilities		862,065		866,688
Total equity		2,581,590		2,488,377
Total liabilities and equity	$	3,443,655	$	3,355,065
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

Schedule Of Condensed Statements of Income

Statements of Income		Year Ended December 31
(Dollars in thousands)		2014		2013		2012
Dividend income:
Bank	$	180,000	$	180,000	$	100,000
Non-bank		446		957		390
Total dividend income		180,446		180,957		100,390
Interest income		2		125		329
Other income		6,265		3,468		1,050
Total income		186,713		184,550		101,769
Provision/(provision credit) for loan losses		-		(925)		(1,850)
Interest expense:
Short-term debt		9		20		50
Term borrowings		23,808		24,058		24,365
Total interest expense		23,817		24,078		24,415
Compensation, employee benefits and other expense		30,400		37,490		40,286
Total expense		54,217		60,643		62,851
Income/(loss) before income taxes		132,496		123,907		38,918
Income tax benefit		(20,599)		(20,897)		(23,653)
Income/(loss) before equity in undistributed net income of subsidiaries		153,095		144,804		62,571
Equity in undistributed net income/(loss) of subsidiaries:
Bank		68,836		(117,600)		(89,826)
Non-bank		588		(300)		439
Net income/(loss) attributable to the controlling interest	$	222,519	$	26,904	$	(26,816)
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.

Schedule Of Condensed Statements Of Cash Flows

Statements of Cash Flows		Year Ended December 31
(Dollars in thousands)		2014		2013		2012
Operating activities:
Net income/(loss)	$	222,519	$	26,904	$	(26,816)
Less undistributed net income/(loss) of subsidiaries		69,424		(117,900)		(89,387)
Income/(loss) before undistributed net income of subsidiaries		153,095		144,804		62,571
Adjustments to reconcile income to net cash provided by operating activities:
Depreciation, amortization, and other		(390)		(1,314)		(2,335)
Loss on securities		(5,736)		(2,182)		-
Stock-based compensation expense		11,351		16,144		16,201
Net (increase)/decrease in interest receivable and other assets		(1,836)		(4,959)		(14,945)
Net (decrease)/increase in interest payable and other liabilities		1,505		8,626		1,599
Total adjustments		4,894		16,315		520
Net cash provided/(used) by operating activities		157,989		161,119		63,091
Investing activities:
Securities:
Sales and prepayments		4,693		599		512
Purchases		(40)		(120)		(180)
Premises and equipment:
Purchases		(20)		(63)		(225)
Decrease/(increase) in interest-bearing cash		15,800		64,200		85,000
Return on investment in subsidiary		150		90		-
Net cash provided/(used) by investing activities		20,583		64,706		85,107
Financing activities:
Preferred stock:
Proceeds from issuance of preferred stock		-		95,624		-
Cash dividends		(6,200)		(4,288)		-
Common stock:
Exercise of stock options		1,864		651		144
Cash dividends		(47,366)		(38,229)		(10,066)
Repurchase of shares		(43,579)		(91,533)		(133,757)
Term borrowings:
Repayment of term borrowings		-		(100,000)		-
Increase/(decrease) in short-term borrowings		3,000		(27,200)		(900)
Other		-		-		(14)
Net cash (used)/provided by financing activities		(92,281)		(164,975)		(144,593)
Net increase/(decrease) in cash and cash equivalents		86,291		60,850		3,605
Cash and cash equivalents at beginning of year		81,271		20,421		16,816
Cash and cash equivalents at end of year	$	167,562	$	81,271	$	20,421
Total interest paid	$	23,282	$	24,102	$	23,858
Total income taxes paid		17,053		31,075		10,671
Certain previously reported amounts have been revised to reflect the retroactive effect of the adoption of ASU 2014-01, “Equity Method and Joint Venture: Accounting for Investments in Qualified Affordable Housing Projects.” See Note 1 – Summary of Significant Accounting Policies for additional information.