Condensed Financial Information of Parent Company (Tables)

12 Months Ended

Dec. 31, 2013

CONDENSED BALANCE SHEETS


	As of December 31,
	2013		2012
	(Dollars in thousands)
Assets
Investment in subsidiaries	$	789,448	$	810,891
Other assets, net		19,120		19,745

Total assets	$	808,568	$	830,636

Liabilities	$	36,681	$	67,666
Stockholders’ equity		771,887		762,970

Total liabilities and stockholders’ equity	$	808,568	$	830,636

CONDENSED STATEMENTS OF EARNINGS


	For the Year Ended December 31,
	2013			2012			2011
	(Dollars in thousands)
Excess in net earnings of subsidiaries	$	33,149		$	(1,261	)	$	20,750
Dividends from the Bank		63,000			82,300			68,000
Other expense, net		(541	)		(3,759	)		(7,017	)

Net earnings	$	95,608		$	77,280		$	81,733

CONDENSED STATEMENTS OF CASH FLOWS


	For the Year Ended December 31,
	2013			2012			2011
	(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$	95,608		$	77,280		$	81,733

Adjustments to reconcile net earnings to cash used in operating activities:
Earnings of subsidiaries		(96,149	)		(81,039	)		(88,750	)
Tax settlement received from the Bank		1,903			5,240			—
Stock-based compensation		1,926			2,039			2,214
Other operating activities, net		241			(1,717	)		(8,105	)

Total adjustments		(92,079	)		(75,477	)		(94,641	)

Net cash provided by (used in) operating activities		3,529			1,803			(12,908	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Dividends received from the Bank		63,000			82,300			68,000

Net cash provided by investing activities		63,000			82,300			68,000

CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of junior subordinated debentures		(41,238	)		(48,043	)		—
Cash dividends on common stock		(29,939	)		(44,552	)		(35,805	)
Proceeds from exercise of stock options		4,517			2,557			59
Tax benefit from exercise of stock options		475			194			1
Repurchase of common stock		(559	)		(54	)		(12,527	)

Net cash used in financing activities		(66,744	)		(89,898	)		(48,272	)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(215	)		(5,795	)		6,820
CASH AND CASH EQUIVALENTS, beginning of year		15,259			21,054			14,234

CASH AND CASH EQUIVALENTS, end of year	$	15,044		$	15,259		$	21,054