XML 52 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended 12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Dec. 31, 2011
Cash flows from operating activities:      
Net income $ 106,798 $ 108,836  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 13,463 12,067  
Stock-based compensation 3,816 2,535  
Provision for credit losses 20,352 37,971  
Net amortization of premiums and accretion of discounts on securities and borrowings 15,333 7,636  
Amortization of other intangible assets 7,186 7,109  
Gains on securities transactions, net (2,543) (20,034)  
Net impairment losses on securities recognized in earnings 5,247 825  
Proceeds from sales of loans held for sale 598,885 274,032  
Gains on sales of loans, net (31,362) (8,060)  
Originations of loans held for sale (568,330) (241,364)  
Gains on sales of assets, net (483) (382)  
Net change in:      
FDIC loss-share receivable (excluding reimbursements) 7,502 (11,989)  
Trading securities (166) 10,448  
Fair value of borrowings carried at fair value (461) (2,587)  
Cash surrender value of bank owned life insurance (5,265) (5,575)  
Accrued interest receivable 2,273 (3,390)  
Other assets 100,700 12,217  
Accrued expenses and other liabilities (38,475) (173)  
Net cash provided by operating activities 234,470 180,122  
Cash flows from investing activities:      
Net loan originations (305,713) (261,066)  
Loans purchased (129,659)    
Investment securities held to maturity:      
Purchases (258,764) (592,138)  
Maturities, calls and principal repayments 582,651 427,307  
Investment securities available for sale:      
Purchases (229,037) (463,655)  
Sales 221,603 517,244  
Maturities, calls and principal repayments 196,082 200,588  
Death benefit proceeds from bank owned life insurance 1,689 5,389  
Proceeds from sales of real estate property and equipment 5,749 4,495  
Purchases of real estate property and equipment (15,210) (11,946)  
Reimbursements from the FDIC under loss-sharing agreements 14,950 22,746  
Cash and cash equivalents acquired in acquisition 117,587    
Net cash provided by (used in) investing activities 201,928 (151,036)  
Cash flows from financing activities:      
Net change in deposits (132,595) 256,725  
Net change in short-term borrowings 47,016 30,256  
Repayments of long-term borrowings (27,000) (206,000)  
Redemption of junior subordinated debentures (10,000)    
Dividends paid to common shareholders (93,785) (87,450)  
Common stock issued, net 6,176 6,325  
Net cash used in financing activities (210,188) (144)  
Net change in cash and cash equivalents 226,210 28,942  
Cash and cash equivalents at beginning of year 379,049 366,286 366,286
Cash and cash equivalents at end of period 605,259 395,228 379,049
Supplemental disclosures of cash flow information:      
Interest on deposits and borrowings 137,138 150,640  
Federal and state income taxes 49,936 28,741  
Supplemental schedule of non-cash investing activities:      
Transfer of loans to other real estate owned 11,831 7,934  
Transfer of loans to loans held for sale 123,093    
Non-cash assets acquired:      
Investment securities available for sale 275,650    
Loans 1,098,948    
Premises and equipment, net 9,457    
Accrued interest receivable 5,294    
Goodwill 101,967    
Other intangible assets, net 8,050    
Other assets 67,715    
Total non-cash assets acquired 1,567,081    
Liabilities assumed:      
Deposits 1,380,293    
Short-term borrowings 29,000    
Junior subordinated debentures issued to capital trusts 15,645    
Other liabilities 51,312    
Total liabilities assumed 1,476,250    
Net non-cash assets acquired 90,831    
Net cash and cash equivalents acquired 117,587    
Common stock issued in acquisition $ 208,418   $ 208,418