XML 56 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 65,928 $ 63,684
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation, amortization, net of discount accretion (10,983) (13,402)
Stock-based compensation expense 488 1,128
Provision for loan losses 10,278 9,050
Valuation adjustment of loans held for sale 0 (53)
Valuation adjustment of OREO 1,074 1,229
Proceeds from sales of loans held for sale 112,686 107,712
Originations of loans held for sale (107,792) (89,832)
Net gains on sales of SBA and other loans (9,112) (8,878)
Net change in BOLI (874) (826)
Net gains on sales of securities available for sale 0 (54)
Net (gains) loss on sales of OREO (466) 57
Change in accrued interest receivable 261 539
Change in deferred income taxes 15,479 9,487
Change in prepaid FDIC insurance 0 7,771
Change in investments in affordable housing partnership 552 1,181
Change in FDIC loss share receivable 1,110 3,367
Servicing Asset at Amortized Cost, Additions (2,943) (2,535)
Change in other assets 12,873 20,052
Change in accrued interest payable 1,352 472
Change in other liabilities 5,638 (9,486)
Net cash provided by operating activities 95,549 100,769
CASH FLOWS FROM INVESTING ACTIVITIES    
Net change in loans receivable (350,828) (228,758)
Proceeds from sales of securities available for sale 0 6,636
Proceeds from sales of OREO 7,072 1,708
Purchase of premises and equipment (4,960) (6,524)
Purchase of securities available for sale (82,552) (167,850)
Purchase of FHLB stock (536) (1,969)
Redemption of FHLB stock 116 49
Proceeds from matured or paid-down securities available for sale 89,719 143,627
Redemption of preferred stock upon the acquisition 0 (7,475)
Net cash used in investing activities (341,969) (193,422)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net change in deposits 362,367 172,800
Redemption of subordinated debentures (15,464) (4,124)
Proceeds from FHLB advances 60,000 155,000
Repayment of FHLB advances (14,000) (186,745)
Cash dividends paid on Common Stock (19,868) (13,796)
Issuance of additional stock pursuant to various stock plans 0 1,954
Net cash provided by financing activities 373,035 125,089
NET CHANGE IN CASH AND CASH EQUIVALENTS 126,615 32,436
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 316,705 312,916
CASH AND CASH EQUIVALENTS, END OF PERIOD 443,320 345,352
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest paid 25,175 21,506
Income taxes paid 18,423 23,650
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES    
Transfer from loans receivable to OREO 6,554 7,557
Transfer from loans receivable to loans held for sale 2,612 6,900
Loans to facilitate sales of loans held for sale 5,250 0
Pacific International Bancorp, Inc.
    
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash received from acquisition 0 25,967
Pacific International Bank Acquisition    
Assets acquired 0 183,120
Liabilities assumed 0 167,545
Foster Bankshares Inc
    
CASH FLOWS FROM INVESTING ACTIVITIES    
Net cash received from acquisition 0 41,167
Pacific International Bank Acquisition    
Assets acquired 0 333,243
Liabilities assumed $ 0 $ 358,274