XML 44 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 39,665 $ 32,658
Adjustments to reconcile net income to cash provided by operating activities    
Depreciation and amortization 6,268 7,900
Goodwill impairment    2,227
Provision for loan losses 7,050 13,706
Deferred income tax expense (benefit) 5 (28)
Net loss on sale of investments 4   
Loss on write-down of investments in securities available for sale    76
Loss (gain) on sale of fixed assets 27 (29)
Gains (Losses) on Extinguishment of Debt (763) 0
Loss on sale of other real estate owned and foreclosed assets 47 796
Gain realized from early termination of hedging relationship    (22)
Realized gain on sale leaseback transaction (775) (775)
Stock based compensation 1,923 2,178
Excess tax benefit related to equity award activity (412) (153)
Increase in cash surrender value of life insurance policies (2,325) (3,515)
Change in fair value on loans held for sale (274) (788)
Proceeds from bank owned life insurance policies   2,891
Net change in:    
Trading assets    (265)
Loans held for sale 37,794 (21,105)
Other assets 41,059 (11,983)
Other liabilities (14,264) 5,740
Total adjustments 75,364 (3,149)
Net cash provided by operating activities 115,029 29,509
Cash flows used in investing activities    
Proceeds from sales of securities available for sale 169   
Proceeds from maturities and principal repayments of securities available for sale 69,732 74,524
Purchase of securities available for sale (34,864) (83,384)
Proceeds from maturities and principal repayments of securities held to maturity 39,713 41,620
Purchase of securities held to maturity (179,226) (24,287)
Redemption of Federal Home Loan Bank stock 3,093 2,290
Purchase of life insurance policies (219) (219)
Net increase in loans (44,975) (280,861)
Purchase of bank premises and equipment (6,121) (4,951)
Proceeds from the sale of bank premises and equipment 19 67
Proceeds resulting from early termination of hedging relationship    22
Proceeds from the sale of other real estate owned and foreclosed assets 7,119 4,451
Net cash used in investing activities (145,560) (270,728)
Cash flows provided by financing activities    
Net increase (decrease) in time deposits (61,509) 257
Net increase in other deposits 272,141 240,761
Net increase (decrease) in wholesale and customer repurchase agreements 10,821 (7,550)
Net repayment of short term Federal Home Loan Bank advances (11,695) (40,000)
Net repayment of long term Federal Home Loan Bank advances (79,946) 0
Proceeds from exercise of stock options 1,994 953
Tax benefit related to equity award activity 412 153
Restricted stock awards issued, net of awards surrendered (669) (344)
Tax benefit from deferred compensation distribution 105 89
Proceeds from shares issued under direct stock purchase plan 656 953
Common dividends paid (10,070) (13,164)
Net cash provided by financing activities 122,240 182,108
Net increase (decrease) in cash and cash equivalents 91,709 (59,111)
Cash and cash equivalents at beginning of year 215,474 237,504
Cash and cash equivalents at end of period 307,183 178,393
Supplemental schedule of noncash investing and financing activities    
Transfer of loans to other real estate owned & foreclosed assets 2,346 5,429
Transfer of securities from trading to available for sale    $ 8,505