XML 60 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash Flows from Operating Activities:    
Net (loss) income $ (459,656) $ 291,476
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, accretion and amortization expense 62,096 44,547
Provision for loan losses 70,000 100,000
Gains on securities transactions, net (102,468) (61,394)
Loss on extinguishment of debt 1,172,092  
Share-based compensation, including committed ESOP shares 11,050 13,669
Deferred tax benefit (187,429) (25,499)
Decrease in accrued interest receivable 34,005 20,541
(Increase) decrease in other assets (90,655) 9,917
Decrease in accrued expenses and other liabilities (58,390) (28,627)
Net Cash Provided by Operating Activities 450,645 364,630
Cash Flows from Investing Activities:    
Originations of loans (2,696,323) (2,830,953)
Purchases of loans (290,544) (542,218)
Principal payments on loans 3,461,917 2,903,774
Principal collection of mortgage-backed securities held to maturity 1,012,516 2,502,695
Purchases of mortgage-backed securities held to maturity   (172,434)
Principal collection of mortgage-backed securities available for sale 1,500,411 2,078,875
Purchases of mortgage-backed securities available for sale (3,508,207) (5,838,155)
Proceeds from sales of mortgage-backed securities available for sale 9,064,379 1,150,318
Proceeds from maturities and calls of investment securities held to maturity 300,000 1,950,005
Purchases of investment securities held to maturity   (3,002,011)
Proceeds from maturities and calls of investment securities available for sale   750,000
Proceeds from sales of investment securities available for sale 82,475  
Purchases of Federal Home Loan Bank of New York stock (16,624) (8,422)
Redemption of Federal Home Loan Bank of New York stock 121,500  
Purchases of premises and equipment, net (5,678) (4,928)
Net proceeds from sale of foreclosed real estate 21,887 13,379
Net Cash Provided by (Used in) Investment Activities 9,047,709 (1,050,075)
Cash Flows from Financing Activities:    
Net increase in deposits 381,475 590,417
Proceeds from borrowed funds 6,500,000  
Principal payments on borrowed funds (16,222,092)  
Dividends paid (113,531) (147,876)
Purchases of treasury stock (163) (464)
Exercise of stock options 39 871
Tax benefit from stock plans 172 300
Net Cash (Used in) Provided by Financing Activities (9,454,100) 443,248
Net Increase (Decrease) in Cash and Cash Equivalents 44,254 (242,197)
Cash and Cash Equivalents at Beginning of Year 669,397 561,201
Cash and Cash Equivalents at End of Period 713,651 319,004
Supplemental Disclosures:    
Interest paid 694,772 799,321
Loans transferred to foreclosed real estate 25,911 25,038
Income tax payments $ 16,902 $ 263,987