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Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities
 9 Months Ended
Sep. 30, 2018
Disclosure Text Block  
Condensed Consolidating Financial Information of Guarantor and Issuers of Registeres Guranteed Securities

Note 35 – Condensed consolidating financial information of guarantor and issuers of registered guaranteed securities

The following condensed consolidating financial information presents the financial position of Popular, Inc. Holding Company (“PIHC”) (parent only), Popular North America, Inc. (“PNA”) and all other subsidiaries of the Corporation at September 30, 2018 and December 31, 2017, and the results of their operations and cash flows for periods ended September 30, 2018 and 2017.

PNA is an operating, wholly-owned subsidiary of PIHC and is the holding company of its wholly-owned subsidiaries: Equity One, Inc. and Popular Bank (“PB”), including PB’s wholly-owned subsidiaries Popular Equipment Finance, Inc., Popular Insurance Agency, U.S.A., and E-LOAN, Inc.

PIHC fully and unconditionally guarantees all registered debt securities issued by PNA.

Condensed Consolidating Statement of Financial Condition (Unaudited)
At September 30, 2018
All other
Popular Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Assets:
Cash and due from banks$49,058$-$400,951$(49,060)$400,949
Money market investments641,39310,0374,608,668(651,037)4,609,061
Trading account debt securities, at fair value--37,731-37,731
Debt securities available-for-sale, at
fair value--13,047,617-13,047,617
Debt securities held-to-maturity, at
amortized cost8,7252,83589,678-101,238
Equity securities6,88920151,206(153)157,962
Investment in subsidiaries5,514,8651,657,977-(7,172,842)-
Loans held-for-sale, at lower of cost or
fair value--51,742-51,742
Loans held-in-portfolio:
Loans not covered under loss-sharing
agreements with the FDIC32,819-26,623,1775,95526,661,951
Less - Unearned income--149,783-149,783
Allowance for loan losses192-633,526-633,718
Total loans held-in-portfolio, net32,627-25,839,8685,95525,878,450
Premises and equipment, net3,253-553,851-557,104
Other real estate not covered under loss-
sharing agreements with the FDIC7-133,773-133,780
Accrued income receivable78122163,261(621)163,443
Mortgage servicing assets, at fair value--162,779-162,779
Other assets74,62335,4941,805,267(14,534)1,900,850
Goodwill--687,536-687,536
Other intangible assets6,113-23,073-29,186
Total assets$6,338,334$1,706,385$47,757,001$(7,882,292)$47,919,428
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing$-$-$8,852,812$(49,060)$8,803,752
Interest bearing--31,496,112(651,037)30,845,075
Total deposits--40,348,924(700,097)39,648,827
Assets sold under agreements to repurchase--300,116-300,116
Other short-term borrowings--1,200-1,200
Notes payable1,032,97194,057617,659-1,744,687
Other liabilities60,9271,844933,167(15,689)980,249
Total liabilities1,093,89895,90142,201,066(715,786)42,675,079
Stockholders' equity:
Preferred stock50,160---50,160
Common stock1,043256,307(56,309)1,043
Surplus4,272,9884,172,9205,726,616(9,891,009)4,281,515
Retained earnings (accumulated deficit)1,638,219(2,498,798)305,1002,185,1711,629,692
Treasury stock, at cost(183,785)--(87)(183,872)
Accumulated other comprehensive loss,
net of tax(534,189)(63,640)(532,088)595,728(534,189)
Total stockholders' equity5,244,4361,610,4845,555,935(7,166,506)5,244,349
Total liabilities and stockholders' equity$6,338,334$1,706,385$47,757,001$(7,882,292)$47,919,428

Condensed Consolidating Statement of Financial Condition (Unaudited)
At December 31, 2017
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Assets:
Cash and due from banks$47,663$462$402,910$(48,178)$402,857
Money market investments246,4572,8075,254,662(248,807)5,255,119
Trading account debt securities, at fair value--33,926-33,926
Debt securities available-for-sale, at
fair value--10,176,923-10,176,923
Debt securities held-to-maturity, at
amortized cost8,7264,47293,821-107,019
Equity securities5,10920160,075(101)165,103
Investment in subsidiaries5,494,4101,646,287-(7,140,697)-
Loans held-for-sale, at lower of cost or
fair value--132,395-132,395
Loans held-in-portfolio:
Loans not covered under loss-sharing
agreements with the FDIC33,221-24,384,2515,95524,423,427
Loans covered under loss-sharing
agreements with the FDIC--517,274-517,274
Less - Unearned income--130,633-130,633
Allowance for loan losses266-623,160-623,426
Total loans held-in-portfolio, net32,955-24,147,7325,95524,186,642
FDIC loss-share asset--45,192-45,192
Premises and equipment, net3,365-543,777-547,142
Other real estate not covered under loss-sharing
agreements with the FDIC--169,260-169,260
Other real estate covered under loss-sharing
agreements with the FDIC--19,595-19,595
Accrued income receivable369112213,574(211)213,844
Mortgage servicing assets, at fair value--168,031-168,031
Other assets61,31934,3121,912,727(17,035)1,991,323
Goodwill--627,294-627,294
Other intangible assets6,114-29,558-35,672
Total assets$5,906,487$1,688,472$44,131,452$(7,449,074)$44,277,337
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Non-interest bearing$-$-$8,539,123$(48,178)$8,490,945
Interest bearing--27,211,370(248,807)26,962,563
Total deposits--35,750,493(296,985)35,453,508
Assets sold under agreements to repurchase--390,921-390,921
Other short-term borrowings--96,208-96,208
Notes payable737,685148,539650,132-1,536,356
Other liabilities64,8135,2761,641,383(15,033)1,696,439
Total liabilities802,498153,81538,529,137(312,018)39,173,432
Stockholders' equity:
Preferred stock50,160---50,160
Common stock1,042256,307(56,309)1,042
Surplus4,289,9764,100,8485,728,978(9,821,299)4,298,503
Retained earnings (accumulated deficit)1,203,521(2,536,707)165,8782,362,3021,194,994
Treasury stock, at cost(90,058)--(84)(90,142)
Accumulated other comprehensive loss,
net of tax(350,652)(29,486)(348,848)378,334(350,652)
Total stockholders' equity5,103,9891,534,6575,602,315(7,137,056)5,103,905
Total liabilities and stockholders' equity$5,906,487$1,688,472$44,131,452$(7,449,074)$44,277,337

Condensed Consolidating Statement of Operations (Unaudited)
Quarter ended September 30, 2018
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$52,000$-$-$(52,000)$-
Loans537-430,122(22)430,637
Money market investments2,4291627,582(2,446)27,581
Investment securities1507269,925-70,147
Total interest and dividend income55,11688527,629(54,468)528,365
Interest expense:
Deposits--57,580(2,446)55,134
Short-term borrowings-221,622(22)1,622
Long-term debt14,0452,3903,705-20,140
Total interest expense14,0452,41262,907(2,468)76,896
Net interest income (expense) 41,071(2,324)464,722(52,000)451,469
Provision (reversal) for loan losses- non-covered loans(34)-54,421-54,387
Net interest income (expense)
after provision (reversal) for loan losses41,105(2,324)410,301(52,000)397,082
Service charges on deposit accounts--38,147-38,147
Other service fees--64,382(66)64,316
Mortgage banking activities--11,269-11,269
Net gain, including impairment on equity securities172-216(18)370
Net profit on trading account debt securities--(122)-(122)
Adjustments (expense) to indemnity reserves
on loans sold--(3,029)-(3,029)
Other operating income (expense)3,643(118)36,551(6)40,070
Total non-interest income (expense)3,815(118)147,414(90)151,021
Operating expenses:
Personnel costs15,803-123,954-139,757
Net occupancy expenses984-17,618-18,602
Equipment expenses1,037-17,266-18,303
Other taxes71-11,852-11,923
Professional fees3,8892080,017(66)83,860
Communications144-5,910-6,054
Business promotion520-14,958-15,478
FDIC deposit insurance--8,610-8,610
Other real estate owned (OREO) expenses --7,950-7,950
Other operating expenses(23,600)1376,754(591)52,576
Amortization of intangibles--2,324-2,324
Total operating expenses(1,152)33367,213(657)365,437
Income (loss) before income tax and equity in
earnings of subsidiaries46,072(2,475)190,502(51,433)182,666
Income tax (benefit) expense -(520)42,31022842,018
Income (loss) before equity in earnings of
subsidiaries46,072(1,955)148,192(51,661)140,648
Equity in undistributed earnings of
subsidiaries94,57619,722-(114,298)-
Net income$140,648$17,767$148,192$(165,959)$140,648
Comprehensive income, net of tax$103,251$11,770$111,369$(123,139)$103,251

Condensed Consolidating Statement of Operations (Unaudited)
Nine months ended September 30, 2018
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$402,000$-$-$(402,000)$-
Loans1,601-1,188,946(49)1,190,498
Money market investments4,2671886,258(4,285)86,258
Investment securities447233184,857-185,537
Total interest and dividend income408,3152511,460,061(406,334)1,462,293
Interest expense:
Deposits--143,335(4,285)139,050
Short-term borrowings-495,387(49)5,387
Long-term debt40,2807,77311,151-59,204
Total interest expense40,2807,822159,873(4,334)203,641
Net interest income (expense)368,035(7,571)1,300,188(402,000)1,258,652
Provision (reversal) for loan losses- non-covered loans(75)-183,849-183,774
Provision for loan losses- covered loans--1,730-1,730
Net interest income (expense)
after provision (reversal) for loan losses368,110(7,571)1,114,609(402,000)1,073,148
Service charges on deposit accounts--111,704-111,704
Other service fees--189,253(1,459)187,794
Mortgage banking activities--33,408-33,408
Net gain (loss), including impairment on equity securities176-(170)(48)(42)
Net loss on trading account debt securities--(299)-(299)
Adjustments (expense) to indemnity reserves
on loans sold--(6,482)-(6,482)
FDIC loss-share income--94,725-94,725
Other operating income11,13927867,133(31)78,519
Total non-interest income11,315278489,272(1,538)499,327
Operating expenses:
Personnel costs43,365-346,576-389,941
Net occupancy expenses3,081-60,748-63,829
Equipment expenses2,581250,701-53,284
Other taxes168133,532-33,701
Professional fees13,245128247,764(389)260,748
Communications380-16,962-17,342
Business promotion1,323-42,942-44,265
FDIC deposit insurance--22,534-22,534
Other real estate owned (OREO) expenses --21,028-21,028
Other operating expenses(64,352)67177,543(1,796)111,462
Amortization of intangibles--6,973-6,973
Total operating expenses(209)1981,027,303(2,185)1,025,107
Income (loss) before income tax
and equity in earnings of subsidiaries379,634(7,491)576,578(401,353)547,368
Income tax expense-37234,97027135,613
Income (loss) before equity in
earnings of subsidiaries379,634(7,863)541,608(401,624)511,755
Equity in undistributed earnings of
subsidiaries132,12145,772-(177,893)-
Net income$511,755$37,909$541,608$(579,517)$511,755
Comprehensive income, net of tax$328,218$3,755$358,368$(362,123)$328,218

Condensed Consolidating Statement of Operations (Unaudited)
Quarter ended September 30, 2017
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$27,500$-$-$(27,500)$-
Loans405-371,574-371,979
Money market investments7301315,529(743)15,529
Investment securities1428148,152-48,375
Total interest and dividend income28,77794435,255(28,243)435,883
Interest expense:
Deposits--37,801(743)37,058
Short-term borrowings--1,524-1,524
Long-term debt13,1182,6933,319-19,130
Total interest expense13,1182,69342,644(743)57,712
Net interest income (expense)15,659(2,599)392,611(27,500)378,171
Provision for loan losses- non-covered loans40-157,619-157,659
Provision for loan losses- covered loans--3,100-3,100
Net interest income (expense) after provision for
loan losses15,619(2,599)231,892(27,500)217,412
Service charges on deposit accounts--39,273-39,273
Other service fees--53,551(70)53,481
Mortgage banking activities--5,239-5,239
Net gain on sale of debt securities--83-83
Net gain, including impairment on equity securities--20-20
Net profit on trading account debt securities137-9818253
Net loss on sale of loans, including valuation
adjustments on loans held-for-sale--(420)-(420)
Adjustments (expense) to indemnity reserves
on loans sold--(6,406)-(6,406)
FDIC loss-share expense--(3,948)-(3,948)
Other operating income1,5643111,208(4)12,799
Total non-interest income1,7013198,698(56)100,374
Operating expenses:
Personnel costs11,438-106,331-117,769
Net occupancy expenses976-21,278-22,254
Equipment expenses885115,571-16,457
Other taxes55-10,803-10,858
Professional fees2,5551868,269(70)70,772
Communications125-5,269-5,394
Business promotion454-14,762-15,216
FDIC deposit insurance--6,271-6,271
Other real estate owned (OREO) expenses 42-11,682-11,724
Other operating expenses(17,572)1356,142(555)38,028
Amortization of intangibles--2,345-2,345
Total operating expenses(1,042)32318,723(625)317,088
Income (loss) before income tax and equity (losses)
in earnings of subsidiaries18,362(2,600)11,867(26,931)698
Income tax (benefit) expense-(910)(19,271)215(19,966)
Income (loss) before equity in earnings (losses)
of subsidiaries18,362(1,690)31,138(27,146)20,664
Equity in undistributed earnings (losses) of subsidiaries2,302(7,681)-5,379-
Net income (loss)$20,664$(9,371)$31,138$(21,767)$20,664
Comprehensive income (loss), net of tax$32,275$(7,732)$42,516$(34,784)$32,275

Condensed Consolidating Statement of Operations (Unaudited)
Nine months ended September 30, 2017
All other
Popular, Inc.PNAsubsidiaries andEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.eliminationsentriesConsolidated
Interest and dividend income:
Dividend income from subsidiaries$184,000$-$-$(184,000)$-
Loans534-1,102,250-1,102,784
Money market investments1,8205233,233(1,872)33,233
Investment securities425242143,927-144,594
Total interest and dividend income186,7792941,279,410(185,872)1,280,611
Interest expense:
Deposits--106,779(1,872)104,907
Short-term borrowings--3,734-3,734
Long-term debt39,3538,0769,793-57,222
Total interest expense39,3538,076120,306(1,872)165,863
Net interest income (expense) 147,426(7,782)1,159,104(184,000)1,114,748
Provision for loan losses- non-covered loans309-255,327(5,955)249,681
Provision for loan losses- covered loans--4,255-4,255
Net interest income (expense) after provision
for loan losses147,117(7,782)899,522(178,045)860,812
Service charges on deposit accounts--119,882-119,882
Other service fees--170,282(1,458)168,824
Mortgage banking activities--27,349-27,349
Net gain on sale of debt securities--83-83
Other-than-temporary impairment losses on
debt securities--(8,299)-(8,299)
Net gain, including impairment on equity securities--201-201
Net profit (loss) on trading account debt securities297-(1,003)26(680)
Net loss on sale of loans, including valuation
adjustments on loans held-for-sale--(420)-(420)
Adjustments (expense) to indemnity reserves
on loans sold--(11,302)-(11,302)
FDIC loss-share expense--(12,680)-(12,680)
Other operating income10,7391,25638,101(18)50,078
Total non-interest income11,0361,256322,194(1,450)333,036
Operating expenses:
Personnel costs37,226-321,231-358,457
Net occupancy expenses2,925-62,370-65,295
Equipment expenses1,952146,724-48,677
Other taxes147-32,420-32,567
Professional fees8,743(474)205,047(360)212,956
Communications407-16,835-17,242
Business promotion1,413-38,745-40,158
FDIC deposit insurance--18,936-18,936
Other real estate owned (OREO) expenses 42-41,170-41,212
Other operating expenses(53,227)39147,559(1,664)92,707
Amortization of intangibles--7,034-7,034
Total operating expenses(372)(434)938,071(2,024)935,241
Income (loss) before income tax and equity in
earnings of subsidiaries158,525(6,092)283,645(177,471)258,607
Income tax (benefit) expense -(2,132)48,3682,53648,772
Income (loss) before equity in earnings of subsidiaries158,525(3,960)235,277(180,007)209,835
Equity in undistributed earnings of subsidiaries51,31013,947-(65,257)-
Net income$209,835$9,987$235,277$(245,264)$209,835
Comprehensive income, net of tax$238,789$13,554$264,006$(277,560)$238,789

Condensed Consolidating Statement of Cash Flows (Unaudited)

Nine months ended September 30, 2018
All other
Popular, Inc.PNAsubsidiariesEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.and eliminationsentriesConsolidated
Cash flows from operating activities:
Net income$511,755$37,909$541,608$(579,517)$511,755
Adjustments to reconcile net income to net
cash provided by (used in) operating activities:
Equity in earnings of subsidiaries,
net of dividends or distributions(132,121)(45,772)-177,893-
Provision for loan losses (75)-185,579-185,504
Amortization of intangibles--6,973-6,973
Depreciation and amortization of premises and
equipment548-38,535-39,083
Net accretion of discounts and amortization
of premiums and deferred fees 1,62420(45,177)-(43,533)
Share-based compensation4,149-1,813-5,962
Impairment losses on long-lived assets--272-272
Fair value adjustments on mortgage servicing rights--13,123-13,123
FDIC loss-share income--(94,725)-(94,725)
Adjustments to indemnity reserves on
loans sold--6,482-6,482
Earnings from investments under the
equity method, net of dividends or distributions(10,557)(278)(3,937)-(14,772)
Deferred income tax benefit-(1,453)(96,525)270(97,708)
Loss (gain) on:
Disposition of premises and equipment and other
productive assets15-17,679-17,694
Proceeds from insurance claims--(14,411)-(14,411)
Sale of loans, including valuation adjustments on
loans held for sale and mortgage banking activities--(6,734)-(6,734)
Sale of foreclosed assets, including write-downs--(638)-(638)
Acquisitions of loans held-for-sale--(173,644)-(173,644)
Proceeds from sale of loans held-for-sale--51,131-51,131
Net originations on loans held-for-sale--(186,063)-(186,063)
Net decrease (increase) in:
Trading securities--346,556(101)346,455
Equity securities(1,779)-(701)-(2,480)
Accrued income receivable(411)9051,77941051,868
Other assets(2,352)52237,585(449)234,836
Net (decrease) increase in:
Interest payable(7,007)(3,441)925(410)(9,933)
Pension and other postretirement benefits
obligations--3,392-3,392
Other liabilities2,1609(198,958)(246)(197,035)
Total adjustments(145,806)(50,773)140,311177,367121,099
Net cash provided by (used in) operating activities365,949(12,864)681,919(402,150)632,854
Cash flows from investing activities:
Net (increase) decrease in money market investments (395,000)(7,230)647,519402,230647,519
Purchases of investment securities:
Available-for-sale--(6,968,920)-(6,968,920)
Equity--(11,456)152(11,304)
Proceeds from calls, paydowns, maturities and
redemptions of investment securities:
Available-for-sale--3,925,362-3,925,362
Held-to-maturity-1,6375,547-7,184
Proceeds from sale of investment securities:
Equity--20,925-20,925
Net repayments (disbursements) on loans 395-(15,999)-(15,604)
Proceeds from sale of loans--1,354-1,354
Acquisition of loan portfolios --(461,117)-(461,117)
Net payments (to) from FDIC under loss-sharing
agreements--(25,012)-(25,012)
Payments to acquire businesses, net of cash acquired--(1,830,050)-(1,830,050)
Return of capital from equity method investments-4972,004-2,501
Capital contribution to subsidiary(82,000)--82,000-
Return of capital from wholly-owned subsidiaries13,000--(13,000)-
Acquisition of premises and equipment(755)-(52,389)-(53,144)
Proceeds from insurance claims--14,411-14,411
Proceeds from sale of:
Premises and equipment and other productive assets195-6,796-6,991
Foreclosed assets--85,622-85,622
Net cash used in investing activities(464,165)(5,096)(4,655,403)471,382(4,653,282)
Cash flows from financing activities:
Net increase (decrease) in:
Deposits--4,596,970(403,111)4,193,859
Assets sold under agreements to repurchase--(90,805)-(90,805)
Other short-term borrowings--(95,008)-(95,008)
Payments of notes payable -(54,502)(172,474)-(226,976)
Proceeds from issuance of notes payable294,706-140,000-434,706
Proceeds from issuance of common stock11,441-(589)-10,852
Dividends paid to parent company--(402,000)402,000-
Dividends paid(79,115)---(79,115)
Net payments for repurchase of common stock(125,323)--(3)(125,326)
Return of capital to parent company--(13,000)13,000-
Capital contribution from parent-72,00010,000(82,000)-
Payments related to tax withholding for
share-based compensation(2,162)-(43)-(2,205)
Net cash provided by financing activities99,54717,4983,973,051(70,114)4,019,982
Net increase (decrease) in cash and due from banks, and restricted cash1,331(462)(433)(882)(446)
Cash and due from banks, and restricted cash at beginning of period48,120462412,225(48,178)412,629
Cash and due from banks, and restricted cash at end of period$49,451$-$411,792$(49,060)$412,183

Condensed Consolidating Statement of Cash Flows (Unaudited)

Nine months ended September 30, 2017
All other
Popular, Inc.PNAsubsidiariesEliminationPopular, Inc.
(In thousands)Holding Co.Holding Co.and eliminationsentriesConsolidated
Cash flows from operating activities:
Net income$209,835$9,987$235,277$(245,264)$209,835
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Equity in earnings of subsidiaries,
net of dividends or distributions(51,310)(13,947)-65,257-
Provision for loan losses 309-253,627-253,936
Amortization of intangibles--7,034-7,034
Depreciation and amortization of premises and
equipment480-35,486-35,966
Net accretion of discounts and amortization
of premiums and deferred fees 1,56521(18,957)-(17,371)
Impairment losses on long-lived assets--11,286-11,286
Other-than-temporary impairment on debt securities--8,299-8,299
Fair value adjustments on mortgage servicing rights--24,262-24,262
FDIC loss-share expense--12,680-12,680
Adjustments (expense) to indemnity reserves on
loans sold--11,302-11,302
Earnings from investments under the
equity method, net of dividends or distributions(6,732)(1,256)(3,526)-(11,514)
Deferred income tax (benefit) expense -(2,132)32,38921430,471
(Gain) loss on:
Disposition of premises and equipment and
other productive assets(17)-5,035-5,018
Sale and valuation adjustments of investment
securities --(83)-(83)
Sale of loans, including valuation adjustments on
loans held for sale and mortgage banking activities--(16,455)-(16,455)
Sale of foreclosed assets, including write-downs42-19,186-19,228
Acquisitions of loans held-for-sale--(204,813)-(204,813)
Proceeds from sale of loans held-for-sale--68,326-68,326
Net originations on loans held-for-sale--(283,709)-(283,709)
Net decrease (increase) in:
Trading debt securities--499,714-499,714
Equity securities(961)-373(25)(613)
Accrued income receivable(115)107(8,274)(15)(8,297)
Other assets(2,165)45(14,955)15,193(1,882)
Net (decrease) increase in:
Interest payable(7,875)(2,685)1,24615(9,299)
Pension and other postretirement benefits
obligations--(13,760)-(13,760)
Other liabilities2,115(760)22,742(8,919)15,178
Total adjustments(64,664)(20,607)448,45571,720434,904
Net cash provided by (used in) operating activities145,171(10,620)683,732(173,544)644,739
Cash flows from investing activities:
Net decrease (increase) in money market investments 13,73310,491(2,599,052)(26,025)(2,600,853)
Purchases of investment securities:
Available-for-sale--(2,356,385)-(2,356,385)
Equity--(23,822)-(23,822)
Proceeds from calls, paydowns, maturities and
redemptions of investment securities:
Available-for-sale--1,225,915-1,225,915
Held-to-maturity--6,229-6,229
Proceeds from sale of investment securities:
Available for sale--14,423-14,423
Equity--17,675-17,675
Net repayments on loans 172-(77,572)-(77,400)
Proceeds from sale of loans--38,279(37,864)415
Acquisition of loan portfolios (31,909)-(454,076)37,864(448,121)
Acquisition of trademark(5,560)-5,560--
Net payments from FDIC under loss-sharing
agreements--(11,520)-(11,520)
Return of capital from equity method investments--8,056-8,056
Capital contribution to subsidiary(5,955)-5,955--
Return of capital from wholly-owned subsidiaries22,40010,40040(32,840)-
Acquisition of premises and equipment(594)-(39,564)-(40,158)
Proceeds from sale of:
Premises and equipment and other productive assets21-6,961-6,982
Foreclosed assets39-85,666-85,705
Net cash (used in) provided by investing activities(7,653)20,891(4,147,232)(58,865)(4,192,859)
Cash flows from financing activities:
Net increase (decrease) in:
Deposits--3,721,88229,4853,751,367
Assets sold under agreements to repurchase--(105,020)-(105,020)
Other short-term borrowings--239,398-239,398
Payments of notes payable --(89,375)-(89,375)
Proceeds from issuance of notes payable--45,000-45,000
Proceeds from issuance of common stock5,515---5,515
Dividends paid to parent company--(179,500)179,500-
Dividends paid(69,162)---(69,162)
Net payments for repurchase of common stock(75,661)-(1)-(75,662)
Return of capital to parent company-(10,400)10,400--
Capital contribution from parent--5,955(5,955)-
Payments related to tax withholding for
share-based compensation(1,756)-(32,840)32,840(1,756)
Net cash (used in) provided by financing activities(141,064)(10,400)3,615,899235,8703,700,305
Net (decrease) increase in cash and due from banks(3,546)(129)152,3993,461152,185
Cash and due from banks, and restricted cash at beginning
of period48,130591373,556(48,081)374,196
Cash and due from banks, and restricted cash
at end of period$44,584$462$525,955$(44,620)$526,381