Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2013

STATEMENTS OF FINANCIAL CONDITION



	December 31,
	2013		2012
	(In thousands)
ASSETS:
Cash and cash equivalents	$	9,905	$	19,142
Other assets	27,413		5,477
Investment in bank subsidiary	833,098		769,718
TOTAL ASSETS	$	870,416	$	794,337
LIABILITIES:	—
Other borrowings	$	57,410	$	41,846
Accounts payable and other liabilities	3,631		1,387
Total liabilities	61,041		43,233
STOCKHOLDERS’ EQUITY	809,375		751,104
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	870,416	$	794,337

STATEMENTS OF INCOME



	Years Ended December 31,
	2013		2012		2011
	(In thousands)
Interest income	$	—	$	—	$	—
Interest expense	1,798		2,064		1,906
Dividends from bank subsidiary	—		—		—
Other operating expense	4,499		7,147		5,024
Equity in earnings of bank subsidiary	85,854		88,793		31,508
Income before income tax benefit	79,557		79,582		24,578
Income tax benefit	2,198		3,641		2,537
Net income	$	81,755	83,223		$	27,115

STATEMENTS OF CASH FLOWS



	Years Ended December 31,
	2013			2012			2011
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	81,755		$	83,223		$	27,115
Adjustments to reconcile net income to net cash from operating activities:
Amortization	259			163			20
Stock-based compensation expense	386			1,009			8
Change in other assets	(1,152		)	(342		)	(1,276		)
Change in accounts payable and other liabilities	3,324			207			(238		)
Equity in undistributed loss (earnings) of bank subsidiary	(66,113		)	10,207			(31,508		)
Net cash from operating activities	18,459			94,467			(5,879		)
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash and cash equivalents acquired through the merger	791			—			3,438
Investment in bank subsidiary	—			—			—
Net cash from investing activities	791			—			3,438
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of additional common stock	—			—			59,869
Issuance of additional stock pursuant to various stock plans	2,852			322			524
Tax effect on issuance of shares from stock plan	—			—			139
Redemption of subordinated debenture	(4,124		)	(10,400		)	—
Redemption of preferred stock	(7,474		)	(122,000		)	—
Redemption of common stock warrant	—			(2,189		)	—
Payments of cash dividends	(19,741		)	(7,549		)	(3,350		)
Net cash from financing activities	(28,487		)	(141,816		)	57,182
NET CHANGE IN CASH AND CASH EQUIVALENTS	(9,237		)	(47,349		)	54,741
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	19,142			66,491			11,750
CASH AND CASH EQUIVALENTS, END OF YEAR	$	9,905		$	19,142		$	66,491