Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y
Source Document12/31/201512/31/201612/31/201612/31/2016
(in thousands)    
Cash flows from operating activities 
Net income attributable to the Company 70,53568,81564,92571,628
Adjustments to arrive at net income from continuing operations 
Net income attributable to noncontrolling interests 3,9484,7504,4074,157
Net pre-tax gain from operating activities of discontinued operations (13,913)(11,258)(11,234)(9,452)
Tax expense from discontinued operations 6,1215,0984,8233,911
Net income from continuing operations 66,69167,40562,92170,244
Adjustments to reconcile net income from continuing operations to net cash provided by/ (used in) operating activities 
Depreciation and amortization 19,10719,37822,18723,441
Net income attributable to noncontrolling interests (3,948)(4,750)(4,407)(4,157)
Equity issued as compensation 6,7476,2399,8204,112
Impairment of goodwill NA009,528
Provision/ (credit) for loan losses (10,000)(6,400)(1,555)(6,935)
Loans originated for sale (231,539)(71,858)(153,445)(80,539)
Proceeds from sale of loans held for sale 254,34571,440153,67985,814
Gain on the repurchase of debt (620)NANANA
Gain on sale of Pacific Northwest offices (10,574)NANANA
Gain on sale of offices NA00(2,862)
Deferred income tax expense/ (benefit) 10,3135,058(4,575)2,777
Net decrease/ (increase) in other operating activities 5,86114,3872,852(817)
Net cash provided by/ (used in) operating activities of continuing operations 106,383100,89987,477100,606
Net cash provided by/ (used in) operating activities of discontinued operations 7,7926,1606,4115,541
Net cash provided by/ (used in) operating activities 114,175107,05993,888106,147
Cash flows from investing activities 
Investment securities available-for-sale 
Purchases (243,359)(335,404)(506,529)(422,315)
Sales 4,0626,45034,16050,049
Maturities, redemptions, and principal payments 227,973190,926208,467165,768
Investment securities held-to-maturity 
Purchases (112,391)(48,835)00
Principal payments 32519,26323,74122,522
(Investments)/ distributions in trusts, net 154(385)(165)(508)
(Purchase)/ redemption of Federal Home Loan Banks stock 3,3696,331(2,900)(8,896)
Net increase in portfolio loans (310,834)(221,256)(452,675)(403,670)
Proceeds from recoveries of loans previously charged-off 7,73111,1636,25310,461
Proceeds from sale of OREO 2,4551,1022771,337
Proceeds from sale of portfolio loans 9,44958,56800
Proceeds from sale of Pacific Northwest offices 123,693NANANA
Distributions related to sale of offices NA00(98,517)
Capital expenditures, net of sale proceeds (8,311)(9,705)(5,419)(9,011)
Cash received from dispositions, net of cash divested/ (cash paid for acquisitions, including cash paid for deferred acquisition obligations, net of cash acquired) 0(44,845)00
Cash provided by/ (used in) other investing activities of continuing operations (224)(1,601)00
Net cash provided by/ (used in) investing activities-continuing operations (295,908)(368,228)(694,790)(692,780)
Net cash provided by/ (used in) investing activities-discontinued operations 0000
Net cash provided by/ (used in) investing activities (295,908)(368,228)(694,790)(692,780)
Cash flows from financing activities 
Net increase in deposits 199,381343,509586,558148,303
Net (decrease)/ increase in securities sold under agreements to repurchase and other (13,966)(71,857)27,7191,409
Net (decrease)/ increase in short-term Federal Home Loan Bank borrowings (40,000)10,00040,000310,000
Net increase/ (decrease) in federal funds purchased NA0080,000
Advances of long-term Federal Home Loan Bank borrowings 120,00055,000123,636134,779
Repayments of long-term Federal Home Loan Bank borrowings (120,867)(62,104)(72,462)(171,898)
Repurchase of debt (35,536)NANANA
Proceeds from issuance of Series D preferred stock, net 47,753NANANA
Repurchase of Series B preferred stock, including deemed dividend at repurchase (69,827)NANANA
Repurchase of common stock NA00(9,323)
Dividends paid to common shareholders (19,129)(25,829)(29,608)(33,110)
Dividends paid to preferred shareholders (2,660)(3,475)(3,475)(3,475)
Tax savings/ (deficiency) from certain stock compensation awards (663)1,294(1,262)(620)
Proceeds from stock option exercises 2,3321,8071,2061,725
Proceeds from issuance of common stock, net 1,230(353)(515)842
Distributions paid to noncontrolling interests (3,416)(4,426)(4,611)(4,054)
Other equity adjustments 238(1,669)(199)(82)
Net cash provided by/ (used in) financing activities-continuing operations 64,870241,897666,987454,496
Net cash provided by/ (used in) financing activities-discontinued operations 0000
Net cash provided by/ (used in) financing activities 64,870241,897666,987454,496
Net increase/ (decrease) in cash and cash equivalents (116,863)(19,272)66,085(132,137)
Cash and cash equivalents at beginning of year 308,744191,881172,609238,694
Cash and cash equivalents at end of year 191,881172,609238,694106,557
Supplementary schedule of non-cash investing and financing activities 
Cash paid for interest 29,37730,04327,74927,415
Cash paid for income taxes, net of (refunds received) 32,33230,07233,31833,078
Change in unrealized gain/ (loss) on securities available-for-sale, net of tax (7,169)3,740(1,488)(11,689)
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 1,206(160)800518
Change in unrealized gain/ (loss) on other, net of tax (358)(80)(115)123
Non-cash transactions 
Loans transferred into/ (out of) held for sale from/ (to) portfolio, net (372)56,96700
Loans charged-off (5,417)(5,296)(2,036)(3,949)
Loans transferred into/ (out of) other real estate owned from/ (to) held for sale or portfolio NA29801,944
Reversal of contingent consideration into income 002,0260
Equity issued for acquisitions, including deferred acquisition obligations 021,00700

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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