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Parent Company Financial Information (Tables)
12 Months Ended
Dec. 31, 2014
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]  
Schedule Of Condensed Statements Of Condition
Following are condensed statements of the parent company:
Statements of ConditionYear Ended December 31
(Dollars in thousands)20142013
Assets:
Cash$167,562 $81,271
Interest-bearing cash-15,800
Securities available-for-sale2,634 1,643
Notes receivable3,460 3,610
Allowance for loan losses(925)(925)
Investments in subsidiaries:
Bank3,066,534 3,040,499
Non-bank17,870 18,044
Other assets195,898 207,498
Total assets$3,453,033 $3,367,440
Liabilities and equity:
Other short-term borrowings$3,000 $-
Accrued employee benefits and other liabilities138,233 158,091
Term borrowings720,832 708,598
Total liabilities862,065 866,689
Total equity2,590,968 2,500,751
Total liabilities and equity$3,453,033 $3,367,440
Schedule Of Condensed Statements of Income
Statements of IncomeYear Ended December 31
(Dollars in thousands)201420132012
Dividend income:
Bank$ 180,000 $ 180,000 $ 100,000
Non-bank 446 957 390
Total dividend income 180,446 180,957 100,390
Interest income 2 125 329
Other income 6,265 3,468 1,050
Total income 186,713 184,550 101,769
Provision/(provision credit) for loan losses - (925) (1,850)
Interest expense:
Short-term debt 9 20 50
Term borrowings 23,808 24,058 24,365
Total interest expense 23,817 24,078 24,415
Compensation, employee benefits and other expense 30,400 37,490 40,286
Total expense 54,217 60,643 62,851
Income/(loss) before income taxes 132,496 123,907 38,918
Income tax benefit (20,599) (20,897) (23,653)
Income/(loss) before equity in undistributed net income of subsidiaries 153,095 144,804 62,571
Equity in undistributed net income/(loss) of subsidiaries:
Bank 65,840 (114,902) (90,769)
Non-bank 588 (300) 439
Net income/(loss) attributable to the controlling interest$ 219,523 $ 29,602 $ (27,759)
Schedule Of Condensed Statements Of Cash Flows
Statements of Cash Flows Year Ended December 31
(Dollars in thousands)201420132012
Operating activities:
Net income/(loss)$ 219,523 $ 29,602 $ (27,759)
Less undistributed net income/(loss) of subsidiaries 66,428 (115,202) (90,330)
Income/(loss) before undistributed net income of subsidiaries 153,095 144,804 62,571
Adjustments to reconcile income to net cash provided by operating activities:
Depreciation, amortization, and other (390) (1,314) (2,335)
Loss on securities (5,736) (2,182) -
Stock-based compensation expense 11,351 16,144 16,201
Net (increase)/decrease in interest receivable and other assets (1,836) (4,959) (14,945)
Net (decrease)/increase in interest payable and other liabilities 1,505 8,626 1,599
Total adjustments 4,894 16,315 520
Net cash provided/(used) by operating activities 157,989 161,119 63,091
Investing activities:
Securities:
Sales and prepayments 4,693 599 512
Purchases (40) (120) (180)
Premises and equipment:
Purchases (20) (63) (225)
Decrease/(increase) in interest-bearing cash 15,800 64,200 85,000
Return on investment in subsidiary 150 90 -
Net cash provided/(used) by investing activities 20,583 64,706 85,107
Financing activities:
Preferred stock:
Proceeds from issuance of preferred stock - 95,624 -
Cash dividends (6,200) (4,288) -
Common stock:
Exercise of stock options 1,864 651 144
Cash dividends (47,366) (38,229) (10,066)
Repurchase of shares (43,579) (91,533) (133,757)
Term borrowings:
Repayment of term borrowings - (100,000) -
Increase/(decrease) in short-term borrowings 3,000 (27,200) (900)
Other - - (14)
Net cash (used)/provided by financing activities (92,281) (164,975) (144,593)
Net increase/(decrease) in cash and cash equivalents 86,291 60,850 3,605
Cash and cash equivalents at beginning of year 81,271 20,421 16,816
Cash and cash equivalents at end of year$ 167,562 $ 81,271 $ 20,421
Total interest paid$ 23,282 $ 24,102 $ 23,858
Total income taxes paid 17,053 31,075 10,671