International Bancshares Corporation (Parent Company Only) Financial Information Statements of Cash Flows |
(24) International Bancshares Corporation (Parent Company Only) Financial Information
Statements of Cash Flows
(Parent Company Only)
Years ended December 31, 2013, 2012 and 2011
(Dollars in Thousands)
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2013 |
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2012 |
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2011 |
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Operating activities: |
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Net income |
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$ |
126,351 |
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$ |
107,835 |
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$ |
127,149 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Accretion of junior subordinated interest deferrable debentures |
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— |
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— |
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9 |
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Investment securities transactions, net |
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— |
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— |
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2 |
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Impairment charges on available for sale securities |
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754 |
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— |
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— |
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Stock compensation expense |
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414 |
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474 |
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387 |
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(Decrease) increase in other liabilities |
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(969 |
) |
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6,711 |
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(3,234 |
) |
Equity in (undistributed) distributed net income of subsidiaries |
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(93,089 |
) |
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119,181 |
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(78,806 |
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Net cash provided by operating activities |
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33,461 |
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234,201 |
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45,507 |
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Investing activities: |
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Principal collected on mortgage-backed securities |
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1,207 |
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1,985 |
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1,355 |
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Net decrease (increase) in notes receivable |
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96 |
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86 |
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(245 |
) |
Decrease (increase) in other assets and other investments |
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432 |
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6,418 |
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(4,193 |
) |
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Net cash provided by (used in) investing activities |
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1,735 |
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8,489 |
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(3,083 |
) |
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Financing activities: |
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Repayment of trust preferred securities |
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— |
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— |
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(10,400 |
) |
Redemption of preferred shares |
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— |
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(216,000 |
) |
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— |
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Proceeds from stock transactions |
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265 |
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51 |
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113 |
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Payments of cash dividends—common |
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(28,894 |
) |
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(26,894 |
) |
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(25,648 |
) |
Payments of cash dividends—preferred |
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— |
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(10,260 |
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(10,800 |
) |
Purchase of treasury stock |
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— |
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(1,716 |
) |
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(6,435 |
) |
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Net cash used in financing activities |
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(28,629 |
) |
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(254,819 |
) |
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(53,170 |
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Increase (decrease) in cash |
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6,567 |
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(12,129 |
) |
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(10,746 |
) |
Cash at beginning of year |
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1,539 |
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13,668 |
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24,414 |
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Cash at end of year |
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$ |
8,106 |
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$ |
1,539 |
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$ |
13,668 |
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