Parent Company Only Financial Information (Tables)

12 Months Ended

Dec. 31, 2013



Parent Only Balance Sheets	December 31,
	2013		2012
Assets:	(in thousands)
Cash and cash equivalents	$	29,881	$	24,443
Investments in subsidiaries:
Sterling Bank	1,416,724		1,417,025
Other subsidiaries	8,271		8,307
Other assets	15,463		20,755
Total assets	$	1,470,339	$	1,470,530
Liabilities and Shareholders' Equity:
Accrued expenses payable	$	7,454	$	3,072
Junior subordinated debentures	245,299		245,294
Due to affiliates	1,639		4,241
Shareholders' equity	1,215,947		1,217,923
Total liabilities and shareholders' equity	$	1,470,339	$	1,470,530



Parent Only Statements of Operations	Years Ended December 31,
(in thousands)	2013			2012			2011
	(in thousands)
Interest income	$	216		$	268		$	300
Interest expense	6,034			6,785			6,433
Net interest expense	(5,818		)	(6,517		)	(6,133		)
Equity in net earnings of subsidiary	104,497			380,294			50,961
Noninterest expenses	11,090			5,385			5,699
Income before income taxes	87,589			368,392			39,129
Income tax benefit	6,052			17,329			4
Net income	$	93,641		$	385,721		$	39,133



Parent Only Statements of Cash Flows	Years Ended December 31,
	2013			2012			2011
	(in thousands)
Cash flows from operating activities:
Net income	$	93,641		$	385,721		$	39,133
Adjustments to reconcile net income to net cash used in operating activities	(102,676		)	(412,528		)	(42,051		)
Net cash used in operating activities	(9,035		)	(26,807		)	(2,918		)
Cash flows from investing activities:
Investments in subsidiaries, net	0			0			0
Dividends from subsidiary	72,800			52,600			0
Net cash provided by investing activities	72,800			52,600			0
Cash flows from financing activities:
Net proceeds from stock issuances	868			3,791			0
Dividends paid	(59,195		)	(49,743		)	0
Net cash used in financing activities	(58,327		)	(45,952		)	0
Net change in cash and cash equivalents	5,438			(20,159		)	(2,918		)
Cash and cash equivalents, beginning of year	24,443			44,602			47,520
Cash and cash equivalents, end of year	$	29,881		$	24,443		$	44,602