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Cash Flow Statement

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 2014 Q3 YTD2013 Y2012 Y2011 Y2010 Y
Source Document9/30/2014 12/31/2013 12/31/2013 12/31/2013 12/31/2012 
(in thousands)     
Cash flows from operating activities
Net income61,62586,13658,22444,54637,356
Adjustments to reconcile net income to net cash provided by operating activities
Provision for loan losses(6,740)(6,125)40,75058,15166,900
Net gain on disposal of premises and equipment(68)(217)(424)28672
Depreciation and amortization12,16816,24517,11217,36820,136
Net premium amortization on investment securities10,78414,65511,70010,3536,762
Net gain on investment securities transactions(80)(1)(348)(1,544)(170)
Net gain on sale of mortgage loans held for sale(12,947)(24,482)(29,606)(14,443)(15,321)
Net gain on sales of student loan portfolio NA NA NA NA (374)
Net gain on sale of mortgage servicing rights NA 0(19)01,525
Net gain on sale of OREO(551)(3,232)(1,041)(552)(708)
Write-down of OREO NA 3,5126,7247,4646,724
Loss on early extinguishment of debt NA 04280306
Write-downs of OREO and other assets pending disposal87 NA NA NA NA
Net reversal of impairment of mortgage servicing rights(117)(99)(771)1,275(787)
Deferred income tax expense8,53711,2768,7622,405(17,257)
Net (increase) decrease in cash surrender value of company-owned life insurance(2,540)(446)(1,849)(1,824)(1,682)
Stock-based compensation expense2,9062,9362,4852,1111,764
Tax benefits from stock-based compensation expense1,5411,898360204239
Excess tax benefits from stock-based compensation expense(1,503)(2,031)(273)(124)(225)
Originations of mortgage loans held for sale(682,011)(1,557,288)(1,197,744)(897,773)1,121
Proceeds from sales of mortgage loans held for sale676,0611,603,7701,209,866902,239 NA
Changes in operating assets and liabilities
Increase in interest receivable(2,749)2,4193,1051,6543,495
Decrease (increase) in other assets(1,585)3,4404,08913,0398,158
Increase (decrease) in accrued interest payable22(1,539)(1,621)(5,055)(4,407)
Increase (decrease) in accounts payable and accrued expenses1,321(602)5,9133,579(4,969)
Net cash provided by operating activities64,161150,225135,822143,101109,258
Cash flows from investing activities
Purchases of investment securities
Proceeds from maturities, pay-downs and sales of investment securities
Purchases of company-owned life insurance(15,000)(45,000)00 NA
Proceeds from sales of mortgage servicing rights2664709075962,480
Extensions of credit to customers, net of repayments(148,854)(178,580)(128,919)90,54871,762
Proceeds from sale of student loan portfolio NA NA NA NA 25,032
Recoveries of loans charged-off7,32311,4668,1165,2312,889
Proceeds from sales of OREO5,87728,39742,81415,89620,336
Capital contribution to equity method investment NA 0(900)00
Capital distribution from unconsolidated subsidiary NA 01,23800
Acquisition of bank and bank holding company, net of cash and cash equivalents received35,556 NA NA NA NA
Capital expenditures, net of sales(6,599)(5,653)(14,420)(9,172)(7,998)
Net cash used in investing activities(26,885)(204,937)(141,079)(125,939)(387,511)
Cash flows from financing activities
Net increase (decrease) in deposits310,370(106,661)413,440(98,742)101,657
Net decrease in repurchase agreements(25,880)(48,348)(10,458)(103,911)146,013
Net increase (decrease) in short-term borrowings NA (29)25(4,984)(432)
Net decrease in other borrowed funds(11,926) NA NA NA NA
Repayments of long-term debt(35)(243)(40)(302)(35,851)
Redemption of preferred stock0(50,000)00 NA
Repayment of junior subordinated debentures held by subsidiary trusts NA 0(41,238)00
Proceeds from issuance of common stock4,9149,8141,911385167,400
Common stock issuance costs NA NA NA NA (13,597)
Excess tax benefits from stock-based compensation expense1,5032,031273124225
Purchase and retirement of common stock(9,736)(448)(263)(248)(3,699)
Dividends paid to common stockholders(21,350)(17,909)(26,208)(19,233)(17,905)
Dividends paid to preferred stockholders NA 0(3,300)(3,422)(3,422)
Net cash provided by (used in) financing activities247,860(211,793)334,142(230,333)340,389
Net increase (decrease) in cash and cash equivalents285,136(266,505)328,885(213,171)62,136
Cash and cash equivalents at beginning of period534,827801,332472,447685,618623,482
Cash and cash equivalents at end of period819,963534,827801,332472,447685,618
Supplemental disclosures of cash flow information
Cash paid during the period for income taxes21,10039,87917,54016,64037,325
Cash paid during the period for interest expense13,04922,23431,73547,08667,514

Data shown on this page is extracted directly from the company's documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company's presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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