XML 40 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income attributable to the Company $ 17,041 $ 13,203
Adjustments to arrive at net income from continuing operations [Abstract]    
Net income attributable to noncontrolling interests 1,236 930
Less: Net income from discontinued operations (1,928) (1,722)
Net income from continuing operations 16,349 12,411
Adjustments to reconcile net income from continuing operations to net cash provided by/(used in) operating activities:    
Depreciation and amortization 4,593 5,203
Net income attributable to noncontrolling interests (1,236) (930)
Equity issued as compensation 1,197 2,278
Provision/ (credit) for loan losses (1,200) 0
Loans originated for sale (9,262) (73,290)
Proceeds from sale of loans held for sale 13,177 93,335
Gain on repurchase of debt 0 (574)
Deferred income tax expense/ (benefit) 1,088 1,346
Net decrease/ (increase) in other operating activities (4,437) (5,935)
Net cash provided by/ (used in) operating activities of continuing operations 20,269 33,844
Net cash provided by/ (used in) operating activities of discontinued operations 1,928 1,722
Net cash provided by/ (used in) operating activities 22,197 35,566
Investment securities available for sale:    
Purchases (76,236) (106,697)
Sales 5,328 1,451
Maturities, redemptions, and principal payments 62,447 64,829
Investment securities held to maturity:    
Purchases 19,307 0
Principal payments 3,180 0
(Investments)/distributions in trusts, net (137) (118)
(Purchase)/ redemption of Federal Home Loan Banks stock 1,162 1,545
Net (increase)/ decrease in portfolio loans (50,496) 18,112
Proceeds from recoveries of loans previously charged-off 1,579 1,122
Proceeds from sale of OREO 819 844
Proceeds from sale of portfolio loans 0 9,449
Capital expenditures (1,636) (3,453)
Cash used in other investing activities 0 224
Net Cash Provided by (Used in) Investing Activities, Continuing Operations (73,297) (13,140)
Net cash provided by/(used in) investing activities (73,297) (13,140)
Cash flows from financing activities:    
Net increase/ (decrease) in deposits, including deposits held for sale 231,274 (373,540)
Net (decrease)/ increase in securities sold under agreements to repurchase (8,803) 5,868
Net (decrease)/ increase in federal funds purchased 15,000 50,000
Net (decrease)/ increase in short-term Federal Home Loan Bank borrowings 30,000 60,000
Advances of long-term Federal Home Loan Bank borrowings 5,000 20,000
Repayments of long-term Federal Home Loan Bank borrowings (7,796) (26,710)
Repurchase of debt 0 (8,932)
Dividends paid to common shareholders (6,386) (4,003)
Dividends paid to preferred shareholders (869) (363)
Tax deficiency from certain stock compensation awards (26) (672)
Proceeds from stock option exercises 1,311 1,202
Proceeds from issuance of common stock, net 262 551
Distributions paid to noncontrolling interests (1,215) (729)
Other equity adjustments 154 294
Net cash provided by/ (used in) financing activities of continuing operations 257,906 (277,034)
Net cash provided by/(used in) financing activities 257,906 (277,034)
Net increase/(decrease) in cash and cash equivalents 206,806 (254,608)
Cash and cash equivalents at beginning of year 191,881 308,744
Cash and cash equivalents at end of period 398,687 54,136
Supplementary schedule of non-cash investing and financing activities:    
Cash paid for interest 6,324 7,873
Cash paid for income taxes, net of (refunds received) 2,666 2,809
Net unrealized gain/ (loss) on securities available for sale, net of tax 1,124 (615)
Net unrealized gain/ (loss) on cash flow hedges, net of tax (232) 207
Net unrealized gain/ (loss) on other, net of tax 0 (156)
Loans transferred into/ (out of) other real estate owned from/ (to) held for sale or portfolio 145 (477)
Loans transferred into/ (out of) held for sale from/(to) portfolio 0 9,097
Loans charged-off $ (145) $ (2,893)