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Cash Flow Statement

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 2015 Q1 YTD2014 Y2013 Y2012 Y2011 Y
Source Document3/31/2015 12/31/2014 12/31/2014 12/31/2014 12/31/2013 
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Cash flows from operating activities
Net income20,98084,40186,13658,22444,546
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Provision for loan losses1,095(6,622)(6,125)40,75058,151
Net gain on disposal of premises and equipment(204)(1,256)(217)(424)28
Depreciation and amortization4,54416,85516,24517,11217,368
Net premium amortization on investment securities3,68414,69014,65511,70010,353
Net gain on investment securities transactions(6)(61)(1)(348)(1,544)
Net gain on sale of mortgage loans held for sale(4,321)(17,475)(24,482)(29,606)(14,443)
Net gain on sale of mortgage servicing rights NA NA NA NA 0
Net gain on sale of OREO(750)(1,849)(3,232)(1,041)(552)
Write-down of OREO NA NA NA NA 7,464
Loss on early extinguishment of debt NA NA NA NA 0
Write-downs of OREO and other assets pending disposal1063263,5126,724 NA
Net reversal of impairment of mortgage servicing rights(15)(136)(99)(771)1,275
Deferred income tax expense4,9145,34511,2768,7622,405
Net increase in cash surrender value of company-owned life insurance(920)(3,600)(446)(1,849)(1,824)
Stock-based compensation expense8323,0142,9362,4852,111
Tax benefits from stock-based compensation expense4802,1931,898360204
Excess tax benefits from stock-based compensation expense(292)(2,205)(2,031)(273)(124)
Originations of mortgage loans held for sale(239,527)(903,373)(1,557,288)(1,197,744)(897,773)
Proceeds from sales of mortgage loans held for sale228,259923,3501,603,7701,209,866902,239
Changes in operating assets and liabilities
Increase in interest receivable(179)4702,4193,1051,654
Increase in other assets(3,630)(6,956)3,4404,49813,039
Decrease in accrued interest payable(720)286(1,539)(1,621)(5,055)
Decrease in accounts payable and accrued expenses(15,682)13,991(602)5,9133,579
Net cash provided by (used in) operating activities(1,352)121,388150,225135,822143,101
Cash flows from investing activities
Purchases of investment securities
Held-to-maturity(11,733)(21,627)(16,370)(68,305)(18,846)
Available-for-sale(153,953)(664,821)(741,579)(1,246,068)(1,166,364)
Proceeds from maturities, pay-downs and sales of investment securities
Held-to-maturity22,82647,78419,46512,19212,682
Available-for-sale95,996613,930722,4471,252,266943,490
Purchases of company-owned life insurance0(15,000)(45,000)00
Proceeds from sales of mortgage servicing rights0266470907596
Extensions of credit to customers, net of repayments(20,050)(216,730)(178,580)(128,919)90,548
Recoveries of loans charged-off1,9019,47811,4668,1165,231
Proceeds from sales of OREO2,32112,38128,39742,81415,896
Capital contribution to equity method investment NA 00(900)0
Capital distribution from unconsolidated subsidiary NA 001,2380
Acquisition of bank and bank holding company, net of cash and cash equivalents, received NA 35,55600 NA
Capital expenditures, net of sales(382)2,941(5,653)(14,420)(9,172)
Net cash provided by (used in) investing activities(63,074)(195,842)(204,937)(141,079)(125,939)
Cash flows from financing activities
Net increase (decrease) in deposits(38,053)357,083(106,661)413,440(98,742)
Net increase (decrease) in securities sold under repurchase agreements(40,177)43,892(48,348)(10,458)(103,911)
Net increase (decrease) in short-term borrowings NA (12,720)(29)25(4,984)
Borrowings of long-term debt NA 6800 NA
Net increase (decrease) in other borrowed funds(5) NA NA NA NA
Repayments of long-term debt(15)(48)(243)(40)(302)
Redemption of preferred stock NA 0(50,000)00
Repayment of junior subordinated debentures held by subsidiary trusts NA (20,439)0(41,238)0
Advances on long-term debt4,996 NA NA NA NA
Proceeds from issuance of common stock9006,9199,8141,911385
Common stock issuance costs NA (298)00 NA
Excess tax benefits from stock-based compensation expense2922,2052,031273124
Purchase and retirement of common stock(15,264)(9,739)(448)(263)(248)
Dividends paid to common stockholders(9,115)(28,626)(17,909)(26,208)(19,233)
Dividends paid to preferred stockholders NA 00(3,300)(3,422)
Net cash provided by (used in) financing activities(96,441)338,297(211,793)334,142(230,333)
Net increase (decrease) in cash and cash equivalents(160,867)263,843(266,505)328,885(213,171)
Cash and cash equivalents at beginning of period798,670534,827801,332472,447685,618
Cash and cash equivalents at end of period637,803798,670534,827801,332472,447
Supplemental disclosures of cash flow information
Cash paid during the period for income taxes5,10026,65039,87917,54016,640
Cash paid during the period for interest expense5,18717,73622,23431,73547,086


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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