XML 64 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Operating activities:      
Net income $ 78,630 $ 82,140 $ 58,101
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 35,419 63,272 87,080
Loan put provision 3,299 0 0
Amortization of loan fees and costs, net 2,119 2,871 4,179
Provision for depreciation 6,954 7,583 7,126
Other than temporary impairment on investment securities 54 0 23
Amortization of intangible assets 2,172 3,534 3,422
(Accretion)/amortization of investment securities (239) 490 (2,413)
Deferred income tax (benefit) 12,717 28,466 (9,603)
Realized net investment security gains 0 (28,829) (11,864)
Compensation expense for issuance of treasury shares to directors 407 388 449
Loan originations to be sold in secondary market (442,890) (269,922) (443,369)
Proceeds from sale of loans in secondary market 422,875 263,170 443,360
Gain on sale of loans in secondary market 5,807 3,557 1,220
OREO devaluations 6,872 8,219 13,206
Bank owned life insurance income (4,754) (5,089) (4,978)
Changes in assets and liabilities:      
(Increase) in other assets (15,231) (18,722) (18,774)
Increase (decrease) in other liabilities (9,010) (10,826) 180
Cash included in assets held for sale 0 (6,766) 0
Net cash provided by operating activities 105,201 123,536 127,345
Investing activities:      
Proceeds from sales of available-for-sale securities 0 584,573 460,192
Proceeds from sales of held-to-maturity securities 0 25,410 0
Proceeds from calls and maturities of securities:      
Held-to-maturity 681,513 454,937 146,986
Available-for-sale 666,431 557,552 2,238,059
Purchase of securities:      
Held-to-maturity (262,679) (625,925) (313,642)
Available-for-sale (964,704) (641,751) (2,719,265)
Net decrease in other investments 1,697 1,095 220
Net loan originations, portfolio loans 163,106 71,862 153,677
Sales of assets/liabilities related to Vision Bank (144,436) 0 0
Purchases of bank owned life insurance, net (2,500) (3,000) (4,562)
Purchases of premises and equipment, net (6,964) (6,618) (7,602)
Net cash (used in) provided by investing activities (194,748) 274,411 (353,291)
Financing activities      
Net increase (decrease) in deposits 250,918 (97,708) (92,632)
Net increase (decrease) in short-term borrowings 80,574 (400,075) 339,450
Issuance of treasury shares, net 0 0 33,541
Proceeds from issuance of subordinated notes 30,000 0 0
Proceeds from long-term debt 300,000 203,000 0
Repayment of sub-debt (25,000) 0 0
Repayment of long-term debt (340,129) (16,551) (17,648)
Cash payment for repurchase of common share warrant from U.S. Treasury (2,843) 0 0
Repurchase of preferred shares from U.S. Treasury (100,000) 0 0
Cash dividends paid (60,154) (62,907) (62,076)
Net cash provided by (used in) financing activities 133,366 (374,241) 200,635
Increase (decrease) in cash and cash equivalents 43,819 23,706 (25,311)
Cash and cash equivalents at beginning of year 157,486 133,780 159,091
Cash and cash equivalents at end of year $ 201,305 $ 157,486 $ 133,780