Cash Flow Statement

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 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
(in thousands)     
Cash flows from operating activities 
Net income attributable to the Company 70,53568,81564,92571,62858,871
Adjustments to arrive at net income from continuing operations 
Net income attributable to noncontrolling interests 3,9484,7504,4074,1573,190
Less - Net income from discontinued operations (13,913)(11,258)(11,234)(9,452)(3,881)
Tax expense from discontinued operations 6,1215,0984,8233,911NA
Net income from continuing operations 66,69167,40562,92170,24458,180
Adjustments to reconcile net income from continuing operations to net cash provided by/ (used in) operating activities 
Depreciation and amortization 19,10719,37822,18723,44115,835
Net income attributable to noncontrolling interests (3,948)(4,750)(4,407)(4,157)(3,190)
Stock compensation, net of cancellations 6,7476,2399,8204,1126,183
Impairment of goodwill NA009,528NA
Provision/ (credit) for loan losses (10,000)(6,400)(1,555)(6,935)(6,727)
Loans originated for sale (231,539)(71,858)(153,445)(80,539)(38,099)
Proceeds from sale of loans held for sale 254,34571,440153,67985,81439,972
Gain on the repurchase of debt (620)NANANANA
Gain on sale of Pacific Northwest offices (10,574)NANANANA
Gain on sale of offices NA00(2,862)NA
Deferred income tax expense/ (benefit) 10,3135,058(4,575)2,7774,141
Net decrease/ (increase) in other operating activities 5,86114,3872,852(817)(9,407)
Net cash provided by/ (used in) operating activities of continuing operations 106,383100,89987,477100,60666,888
Net cash provided by/ (used in) operating activities of discontinued operations 7,7926,1606,4115,5413,881
Net cash provided by/ (used in) operating activities 114,175107,05993,888106,14770,769
Cash flows from investing activities 
Available-for-sale investment securities 
Purchases (243,359)(335,404)(506,529)(422,315)(138,623)
Sales 4,0626,45034,16050,049119,238
Maturities, calls, redemptions, and principal payments 227,973190,926208,467165,768100,065
Held-to-maturity investment securities 
Purchases (112,391)(48,835)00(14,945)
Maturities and principal payments 32519,26323,74122,52223,541
(Investments)/ distributions in trusts, net 154(385)(165)(508)(747)
Purchase of additional Bank Owned Life Insurance (“BOLI”) NANANANA(50,000)
(Purchase)/ redemption of Federal Home Loan Bank and Federal Reserve Bank stock 3,3696,331(2,900)(8,896)(17,637)
Net (increase)/ decrease in portfolio loans (310,834)(221,256)(452,675)(403,670)(298,304)
Proceeds from recoveries of loans previously charged-off 7,73111,1636,25310,4614,082
Proceeds from sale of OREO 2,4551,1022771,3371,644
Proceeds from sale of portfolio loans 9,44958,56800NA
Proceeds from sale of Pacific Northwest offices 123,693NANANANA
Distributions related to sale of offices NA00(98,517)NA
Capital expenditures, net of sale proceeds (8,311)(9,705)(5,419)(9,011)(10,769)
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)00NA
Cash provided by/ (used in) other investing activities of continuing operations (224)(1,601)00NA
Net cash provided by/ (used in) investing activities of continuing operations (295,908)(368,228)(694,790)(692,780)(282,455)
Net cash provided by/ (used in) investing activities-discontinued operations 0000NA
Net cash provided by/ (used in) investing activities (295,908)(368,228)(694,790)(692,780)(282,455)
Cash flows from financing activities 
Net increase/ (decrease) in deposits 199,381343,509586,558148,303177,201
Net increase/ (decrease) in securities sold under agreements to repurchase (13,966)(71,857)27,7191,409279
Net increase/ (decrease) in federal funds purchased NA0080,000(10,000)
Net increase/ (decrease) in short-term Federal Home Loan Bank borrowings (40,000)10,00040,000310,000110,000
Advances of long-term Federal Home Loan Bank borrowings 120,00055,000123,636134,77950,110
Repayments of long-term Federal Home Loan Bank borrowings (120,867)(62,104)(72,462)(171,898)(81,542)
Repurchase of debt (35,536)NANANANA
Proceeds from issuance of Series D preferred stock, net 47,753NANANANA
Repurchase of Series B preferred stock, including deemed dividend at repurchase (69,827)NANANANA
Dividends paid to common shareholders (19,129)(25,829)(29,608)(33,110)(27,739)
Dividends paid to preferred shareholders (2,660)(3,475)(3,475)(3,475)(2,606)
Proceeds from warrant exercises NANANANA1,879
Repurchase of common stock NA00(9,323)0
Tax benefit/ (deficiency) from certain stock compensation awards (663)1,294(1,262)(620)0
Proceeds from stock option exercises 2,3321,8071,2061,725827
Proceeds from issuance of common stock, net 1,230(353)(515)842632
Distributions paid to noncontrolling interests (3,416)(4,426)(4,611)(4,054)(3,197)
Other equity adjustments 238(1,669)(199)(82)(275)
Net cash provided by/ (used in) financing activities of continuing operations 64,870241,897666,987454,496215,569
Net cash provided by/ (used in) financing activities-discontinued operations 0000NA
Net cash provided by/ (used in) financing activities 64,870241,897666,987454,496215,569
Net increase/ (decrease) in cash and cash equivalents (116,863)(19,272)66,085(132,137)3,883
Cash and cash equivalents at beginning of year 308,744191,881172,609238,694106,557
Cash and cash equivalents at end of period 191,881172,609238,694106,557110,440
Supplementary schedule of non-cash investing and financing activities 
Cash paid for interest 29,37730,04327,74927,41523,681
Cash paid for income taxes, (net of refunds received) 32,33230,07233,31833,07832,051
Change in unrealized gain/ (loss) on available-for-sale securities, net of tax (7,169)3,740(1,488)(11,689)7,295
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 1,206(160)800518418
Change in unrealized gain/ (loss) on other, net of tax (358)(80)(115)12312
Non-cash transactions 
Loans transferred into other real estate owned from loan portfolio (372)56,967000
Loans charged-off (5,417)(5,296)(2,036)(3,949)(559)
Loans transferred into/ (out of) other real estate owned from/ (to) held for sale or portfolio NA29801,944NA
Reversal of contingent consideration into income 002,0260NA
Equity issued for acquisitions, including deferred acquisition obligations 021,00700NA
Premises and equipment transferred into/ (out of) other assets held for sale NANANANA0
Deposits transferred into/ (out of) held for sale NANANANA0

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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