CONDENSED PARENT COMPANY INFORMATION

12 Months Ended

Dec. 31, 2013

CONDENSED PARENT COMPANY INFORMATION [Abstract]

CONDENSED PARENT COMPANY INFORMATION

(25) CONDENSED PARENT COMPANY INFORMATION

The following condensed financial information reflects the accounts and transactions of the Company (excluding its subsidiaries) at the dates and for the years indicated:

Condensed Balance Sheets	December 31,
	2013	2012
Assets:	(In thousands)
Cash on deposit with subsidiary bank	$          56,751	$        114,394
Investment in subsidiaries	1,527,137	1,484,097
Other assets	11,525	13,398
Total assets	$     1,595,413	$     1,611,889
Liabilities and shareholders' equity:
Total liabilities	$          82,283	$        162,837
Shareholders' equity	1,513,130	1,449,052
Total liabilities and shareholders' equity	$     1,595,413	$     1,611,889

	Year Ended December 31,
Condensed Statements of Income	2013	2012	2011
	(In thousands)
Dividends from subsidiaries	$          35,000	$                   -	$          23,000
Other operating income	1,775	1,253	268
Total income	36,775	1,253	23,268
Operating expenses	15,033	16,931	17,358
Income (loss) before tax benefit and equity in undistributed earnings	21,742	(15,678)	5,910
Income tax benefit	5,860	5,732	6,050
Income (loss) before equity in undistributed earnings
of subsidiaries	27,602	(9,946)	11,960
Equity in undistributed earnings of subsidiaries	66,513	94,241	25,609
Net income	$          94,115	$          84,295	$          37,569

	Year Ended December 31,
Condensed Statements of Cash Flows	2013	2012	2011
	(In thousands)
Operating activities:
Net income	$          94,115	$          84,295	$          37,569
Adjustments to reconcile net income
to net cash provided by operating activities	(62,419)	(95,231)	(30,348)
Net cash provided by (used in) operating activities	31,696	(10,936)	7,221
Financing activities:
Cash dividends	(11,383)	(3,778)	(11,689)
Redemption of junior subordinated debt	(128,866)	-	-
Advance of long-term debt	50,000	-	-
Repayment of long-term debt	(1,786)	-	-
Common stock transactions, net	2,696	112,008	2,596
Net cash (used in) provided by financing activities	(89,339)	108,230	(9,093)
(Decrease) increase in cash and cash equivalents	(57,643)	97,294	(1,872)
Cash and cash equivalents at beginning of year	114,394	17,100	18,972
Cash and cash equivalents at end of year	$          56,751	$        114,394	$          17,100