Cash Flow Statement

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 2012 Y2013 Y2014 Y2015 Y2016 Q3 YTD
Source Document12/31/201412/31/201512/31/201512/31/20159/30/2016
(in thousands)     
Cash flows from operating activities 
Net income attributable to the Company 53,27170,53568,81564,92554,075
Adjustments to arrive at net income from continuing operations 
Net income attributable to noncontrolling interests 3,1223,9484,7504,4073,010
Less - Net income from discontinued operations (9,946)(13,913)(11,258)(11,234)(4,357)
Net pre-tax gain on sale of discontinued operations (221)NANANANA
Tax expense from discontinued operations 2,5326,1215,0984,823NA
Net income from continuing operations 48,75866,69167,40562,92152,728
Adjustments to reconcile net income from continuing operations to net cash provided by/ (used in) operating activities 
Depreciation and amortization 18,88819,10719,37822,18716,997
Net income attributable to noncontrolling interests (3,122)(3,948)(4,750)(4,407)(3,010)
Stock compensation, net of cancellations 7,5316,7476,2399,8202,186
Provision/ (credit) for loan losses (3,300)(10,000)(6,400)(1,555)(5,806)
Loans originated for sale (240,296)(231,539)(71,858)(153,445)(61,768)
Proceeds from sale of loans held for sale 222,621254,34571,440153,67965,086
Gain on the repurchase of debt (3,444)(620)00NA
Gain on sale of Pacific Northwest offices 0(10,574)00NA
Deferred income tax expense/ (benefit) 3,64810,3135,058(4,575)3,721
Net decrease/ (increase) in other operating activities 6,0945,86114,3872,852(2,134)
Net cash provided by/ (used in) operating activities of continuing operations 57,378106,383100,89987,47768,000
Net cash provided by/ (used in) operating activities of discontinued operations (5,566)7,7926,1606,4114,357
Net cash provided by/ (used in) operating activities 51,812114,175107,05993,88872,357
Cash flows from investing activities 
Available-for-sale investment securities 
Purchases (364,021)(243,359)(335,404)(506,529)(323,271)
Sales 49,3364,0626,45034,16041,961
Maturities, calls, redemptions, and principal payments 451,284227,973190,926208,467131,245
Held-to-maturity investment securities 
Purchases 0(112,391)(48,835)00
Principal payments 032519,26323,74116,907
(Investments)/ distributions in trusts, net (713)154(385)(165)(539)
(Purchase)/ redemption of Federal Home Loan Banks stock 1,7333,3696,331(2,900)(903)
Net (increase)/ decrease in portfolio loans (568,995)(310,834)(221,256)(452,675)(156,688)
Proceeds from recoveries of loans previously charged-off 8,4287,73111,1636,2538,347
Proceeds from sale of OREO 5,0212,4551,1022771,337
Proceeds from sale of portfolio loans 109,9349,44958,5680NA
Proceeds from sale of Pacific Northwest offices 0123,69300NA
Capital expenditures, net of sale proceeds (6,532)(8,311)(9,705)(5,419)(7,099)
Cash received from dispositions, net of cash divested/ (cash paid for acquisitions, including cash paid for deferred acquisition obligations, net of cash acquired) 5,9640(44,845)0NA
Cash provided by/ (used in) other investing activities of continuing operations (1,561)(224)(1,601)0NA
Net cash provided by/ (used in) investing activities of continuing operations (310,122)(295,908)(368,228)(694,790)(288,703)
Net cash provided by/ (used in) investing activities-discontinued operations (21)000NA
Net cash provided by/ (used in) investing activities (310,143)(295,908)(368,228)(694,790)(288,703)
Cash flows from financing activities 
Net increase/ (decrease) in deposits, excluding transfer to Deposits held for sale 548,732199,381343,509586,558(122,406)
Net increase/ (decrease) in securities sold under agreements to repurchase (14,472)(13,966)(71,857)27,71919,251
Net increase/ (decrease) in federal funds purchased NANANANA125,000
Net increase/ (decrease) in short-term Federal Home Loan Bank borrowings 40,000(40,000)10,00040,00095,000
Advances of long-term Federal Home Loan Bank borrowings 35,000120,00055,000123,63667,179
Repayments of long-term Federal Home Loan Bank borrowings (188,706)(120,867)(62,104)(72,462)(100,822)
Repurchase of debt (33,749)(35,536)00NA
Proceeds from issuance of Series D preferred stock, net 047,75300NA
Repurchase of Series B preferred stock, including deemed dividend at repurchase 0(69,827)00NA
Dividends paid to common shareholders (3,125)(19,129)(25,829)(29,608)(24,940)
Dividends paid to preferred shareholders (290)(2,660)(3,475)(3,475)(2,606)
Repurchase of common stock NANANANA(8,020)
Tax benefit/ (deficiency) from certain stock compensation awards (1,588)(663)1,294(1,262)(728)
Repurchase of warrants (15,000)NANANANA
Proceeds from stock option exercises 7382,3321,8071,206789
Proceeds from issuance of common stock, net 1,2151,230(353)(515)841
Distributions paid to noncontrolling interests (3,851)(3,416)(4,426)(4,611)(2,905)
Other equity adjustments (1,183)238(1,669)(199)(350)
Net cash provided by/ (used in) financing activities of continuing operations 363,72164,870241,897666,98745,283
Net cash provided by/ (used in) financing activities-discontinued operations 0000NA
Net cash provided by/ (used in) financing activities 363,72164,870241,897666,98745,283
Net increase/ (decrease) in cash and cash equivalents 105,390(116,863)(19,272)66,085(171,063)
Cash and cash equivalents at beginning of year 203,354308,744191,881172,609238,694
Cash and cash equivalents at end of period 308,744191,881172,609238,69467,631
Supplementary schedule of non-cash investing and financing activities 
Cash paid for interest 41,62029,37730,04327,74920,489
Cash paid for income taxes, net of (refunds received) 15,35832,33230,07233,31827,554
Change in unrealized gain/ (loss) on available-for-sale securities, net of tax (1,471)(7,169)3,740(1,488)11,992
Change in unrealized gain/ (loss) on cash flow hedges, net of tax 1371,206(160)800(358)
Change in unrealized gain/ (loss) on other, net of tax (136)(358)(80)(115)0
Non-cash transactions 
Deposits transferred to deposits held for sale 194,084NANANANA
Reversal of contingent consideration into income NA002,026NA
Equity issued for acquisitions, including deferred acquisition obligations 0021,0070NA
Loans transferred into other real estate owned from loan portfolio 2,689(372)29801,944
Loans charged-off (17,185)(5,417)(5,296)(2,036)(3,372)
Premises and equipment transferred into/ (out of) other assets held for sale NANANANA891
Deposits transferred into/ (out of) held for sale NANANANA105,788

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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